Federated Hermes Inc. Buys 6,739 Shares of Stitch Fix, Inc. (NASDAQ:SFIX)

Federated Hermes Inc. boosted its stake in Stitch Fix, Inc. (NASDAQ:SFIX) by 7.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,624 shares of the company’s stock after acquiring an additional 6,739 shares during the period. Federated Hermes Inc. owned 0.08% of Stitch Fix worth $393,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the company. Pallas Capital Advisors LLC bought a new stake in shares of Stitch Fix in the 2nd quarter valued at $48,000. Lodestar Private Asset Management LLC acquired a new stake in Stitch Fix during the 1st quarter worth about $29,000. Baader Bank Aktiengesellschaft bought a new position in shares of Stitch Fix in the 2nd quarter worth about $46,000. Victory Capital Management Inc. acquired a new position in shares of Stitch Fix in the 4th quarter valued at about $42,000. Finally, CWM LLC boosted its position in shares of Stitch Fix by 132.5% during the 2nd quarter. CWM LLC now owns 11,867 shares of the company’s stock valued at $49,000 after purchasing an additional 6,762 shares in the last quarter. Institutional investors and hedge funds own 71.04% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Wedbush reissued a “neutral” rating and issued a $3.00 price target on shares of Stitch Fix in a research note on Wednesday, June 5th. Truist Financial boosted their target price on shares of Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a research report on Wednesday, June 5th. Canaccord Genuity Group raised their price target on shares of Stitch Fix from $3.50 to $4.50 and gave the stock a “hold” rating in a report on Thursday, June 27th. Telsey Advisory Group reissued a “market perform” rating and set a $4.00 price objective on shares of Stitch Fix in a research report on Wednesday, September 18th. Finally, UBS Group boosted their target price on Stitch Fix from $2.80 to $3.80 and gave the company a “neutral” rating in a research report on Monday, July 8th. Two analysts have rated the stock with a sell rating and nine have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $3.45.

Stitch Fix Stock Performance

Shares of SFIX opened at $3.79 on Tuesday. The firm has a market capitalization of $463.67 million, a P/E ratio of -3.72 and a beta of 1.92. Stitch Fix, Inc. has a 52 week low of $2.06 and a 52 week high of $5.05. The stock has a 50 day moving average price of $3.90 and a two-hundred day moving average price of $3.23.

Insider Buying and Selling

In other Stitch Fix news, insider Anthony Bacos sold 42,381 shares of the firm’s stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $4.13, for a total transaction of $175,033.53. Following the transaction, the insider now directly owns 627,957 shares in the company, valued at approximately $2,593,462.41. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other Stitch Fix news, CEO Matt Baer sold 44,230 shares of the business’s stock in a transaction on 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Anthony Bacos sold 42,381 shares of the company’s stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $4.13, for a total value of $175,033.53. Following the completion of the transaction, the insider now owns 627,957 shares of the company’s stock, valued at approximately $2,593,462.41. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 626,663 shares of company stock worth $3,101,692. 25.90% of the stock is owned by corporate insiders.

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.