Stitch Fix (NASDAQ:SFIX) Receives “Market Perform” Rating from Telsey Advisory Group

Telsey Advisory Group reissued their market perform rating on shares of Stitch Fix (NASDAQ:SFIX) in a report published on Wednesday, Benzinga reports. The firm currently has a $4.00 target price on the stock.

SFIX has been the subject of a number of other reports. Truist Financial increased their price objective on Stitch Fix from $3.50 to $4.00 and gave the stock a hold rating in a research report on Wednesday, June 5th. Canaccord Genuity Group lifted their price objective on shares of Stitch Fix from $3.50 to $4.50 and gave the company a hold rating in a research report on Thursday, June 27th. Wedbush restated a neutral rating and set a $3.00 price objective on shares of Stitch Fix in a research report on Wednesday, June 5th. UBS Group lifted their target price on shares of Stitch Fix from $2.80 to $3.80 and gave the company a neutral rating in a report on Monday, July 8th. Finally, Mizuho increased their price target on shares of Stitch Fix from $2.00 to $3.00 and gave the stock an underperform rating in a report on Monday, June 10th. Two investment analysts have rated the stock with a sell rating and ten have given a hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of Hold and a consensus price target of $3.45.

Stitch Fix Stock Performance

Shares of NASDAQ:SFIX opened at $4.14 on Wednesday. The company has a 50-day simple moving average of $3.95 and a 200-day simple moving average of $3.19. Stitch Fix has a one year low of $2.06 and a one year high of $5.05. The stock has a market capitalization of $506.49 million, a price-to-earnings ratio of -4.06 and a beta of 1.92.

Insider Buying and Selling at Stitch Fix

In other news, CEO Matt Baer sold 44,230 shares of Stitch Fix stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $5.00, for a total transaction of $221,150.00. Following the completion of the transaction, the chief executive officer now owns 973,769 shares of the company’s stock, valued at approximately $4,868,845. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. In other news, 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 sale, the chief executive officer now directly owns 973,769 shares in the company, valued at $4,868,845. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Katrina Lake sold 537,007 shares of the company’s stock in a transaction that occurred 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 disclosure for this sale can be found here. Over the last 90 days, insiders have sold 626,663 shares of company stock valued at $3,101,692. Insiders own 25.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Hodges Capital Management Inc. purchased a new stake in shares of Stitch Fix during the first quarter worth about $1,716,000. Los Angeles Capital Management LLC raised its holdings in Stitch Fix by 673.2% in the 1st quarter. Los Angeles Capital Management LLC now owns 516,782 shares of the company’s stock valued at $1,364,000 after acquiring an additional 449,948 shares during the last quarter. Allspring Global Investments Holdings LLC raised its holdings in Stitch Fix by 116.2% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 22,378 shares of the company’s stock valued at $59,000 after acquiring an additional 12,028 shares during the last quarter. Victory Capital Management Inc. purchased a new position in shares of Stitch Fix during the 4th quarter worth $42,000. Finally, Dynamic Technology Lab Private Ltd acquired a new stake in shares of Stitch Fix during the fourth quarter worth $199,000. Institutional investors and hedge funds own 71.04% of the company’s stock.

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.