Renaissance Technologies LLC Acquires 465,900 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Renaissance Technologies LLC lifted its holdings in shares of Stitch Fix, Inc. (NASDAQ:SFIX) by 11.7% during the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 4,432,600 shares of the company’s stock after purchasing an additional 465,900 shares during the period. Renaissance Technologies LLC owned 3.62% of Stitch Fix worth $18,395,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Hodges Capital Management Inc. bought a new stake in Stitch Fix during the 1st quarter worth about $1,716,000. Los Angeles Capital Management LLC grew its stake in shares of Stitch Fix by 673.2% during the first quarter. Los Angeles Capital Management LLC now owns 516,782 shares of the company’s stock valued at $1,364,000 after purchasing an additional 449,948 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in shares of Stitch Fix by 116.2% in the first quarter. Allspring Global Investments Holdings LLC now owns 22,378 shares of the company’s stock valued at $59,000 after purchasing an additional 12,028 shares in the last quarter. Victory Capital Management Inc. acquired a new position in Stitch Fix during the 4th quarter worth $42,000. Finally, Dynamic Technology Lab Private Ltd bought a new position in Stitch Fix in the 4th quarter valued at $199,000. 71.04% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Anthony Bacos sold 42,381 shares of the stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $4.13, for a total transaction of $175,033.53. Following the completion of the sale, the insider now owns 627,957 shares of the company’s stock, valued at $2,593,462.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Anthony Bacos sold 42,381 shares of the company’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $4.13, for a total transaction of $175,033.53. Following the completion of the transaction, the insider now directly owns 627,957 shares of the company’s stock, valued at $2,593,462.41. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matt Baer sold 44,230 shares of the stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $5.00, for a total value of $221,150.00. Following the transaction, the chief executive officer now owns 973,769 shares of the company’s stock, valued at $4,868,845. The disclosure for this sale can be found here. Insiders have sold 626,663 shares of company stock worth $3,101,692 in the last 90 days. Corporate insiders own 25.90% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. UBS Group boosted their target price on Stitch Fix from $2.80 to $3.80 and gave the stock a “neutral” rating in a research report on Monday, July 8th. Canaccord Genuity Group boosted their price objective on Stitch Fix from $3.50 to $4.50 and gave the stock a “hold” rating in a report on Thursday, June 27th. Mizuho raised their target price on shares of Stitch Fix from $2.00 to $3.00 and gave the company an “underperform” rating in a research note on Monday, June 10th. Telsey Advisory Group reissued a “market perform” rating and set a $4.00 price target on shares of Stitch Fix in a research note on Wednesday. Finally, Truist Financial raised their price objective on shares of Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a research note on Wednesday, June 5th. Two equities research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.45.

Stitch Fix Trading Down 5.7 %

SFIX stock opened at $3.94 on Friday. Stitch Fix, Inc. has a 1-year low of $2.06 and a 1-year high of $5.05. The firm has a market cap of $482.02 million, a PE ratio of -3.86 and a beta of 1.92. The business’s 50-day moving average price is $3.93 and its two-hundred day moving average price is $3.21.

Stitch Fix Profile

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.