Stitch Fix (NASDAQ:SFIX) PT Lowered to $3.50 at Canaccord Genuity Group

Stitch Fix (NASDAQ:SFIX) had its price objective reduced by Canaccord Genuity Group from $4.50 to $3.50 in a report published on Wednesday, Benzinga reports. They currently have a hold rating on the stock.

SFIX has been the subject of a number of other reports. Wedbush restated a neutral rating and set a $3.00 price target on shares of Stitch Fix in a report on Wednesday, June 5th. Mizuho raised their price objective on Stitch Fix from $2.00 to $3.00 and gave the stock an underperform rating in a research report on Monday, June 10th. UBS Group increased their price objective on shares of Stitch Fix from $2.80 to $3.80 and gave the company a neutral rating in a research note on Monday, July 8th. Telsey Advisory Group reiterated a market perform rating and issued a $4.00 price target on shares of Stitch Fix in a research report on Wednesday. Finally, Truist Financial lifted their price objective on Stitch Fix from $3.50 to $4.00 and gave the company a hold rating in a research report on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating and nine have issued a hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of Hold and an average price target of $3.36.

Stitch Fix Stock Up 12.3 %

NASDAQ SFIX opened at $2.84 on Wednesday. The stock has a market capitalization of $347.45 million, a PE ratio of -2.78 and a beta of 1.92. Stitch Fix has a 12-month low of $2.06 and a 12-month high of $5.05. The company has a 50 day moving average price of $3.76 and a two-hundred day moving average price of $3.23.

Insider Buying and Selling at Stitch Fix

In other news, Director Katrina Lake sold 537,007 shares of the business’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $5.01, for a total value of $2,690,405.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Katrina Lake sold 537,007 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $5.01, for a total transaction of $2,690,405.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Matt Baer sold 44,230 shares of the stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.00, for a total value of $221,150.00. Following the transaction, the chief executive officer now directly owns 973,769 shares of the company’s stock, valued at $4,868,845. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 626,663 shares of company stock valued at $3,101,692. 25.90% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN raised its holdings in Stitch Fix by 34.9% in the 2nd quarter. Disciplined Growth Investors Inc. MN now owns 9,273,817 shares of the company’s stock valued at $38,486,000 after acquiring an additional 2,396,920 shares during the period. Renaissance Technologies LLC raised its position in shares of Stitch Fix by 11.7% in the 2nd quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after buying an additional 465,900 shares in the last quarter. Maple Rock Capital Partners Inc. bought a new stake in Stitch Fix during the first quarter worth $8,994,000. Hodges Capital Management Inc. grew its position in Stitch Fix by 286.2% in the second quarter. Hodges Capital Management Inc. now owns 2,511,100 shares of the company’s stock valued at $10,421,000 after acquiring an additional 1,860,950 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Stitch Fix by 5.2% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,021,885 shares of the company’s stock worth $7,218,000 after buying an additional 99,914 shares in the last quarter. 71.04% of the stock is owned by institutional investors and hedge funds.

About Stitch Fix

Stitch Fix, Inc sells a range of apparel, shoes, and accessories for men, women, and kids through its website and mobile application in the United States and the United Kingdom. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags under the Stitch Fix brand. The company was formerly known as rack habit inc.