Stitch Fix (NASDAQ:SFIX) Price Target Cut to $2.80

Stitch Fix (NASDAQ:SFIX) had its target price lowered by UBS Group from $3.80 to $2.80 in a research report sent to investors on Friday morning, Benzinga reports. The brokerage currently has a neutral rating on the stock.

Several other analysts have also issued reports on the stock. Telsey Advisory Group restated a market perform rating and issued a $4.00 price target on shares of Stitch Fix in a research report on Wednesday, September 25th. Canaccord Genuity Group reduced their target price on shares of Stitch Fix from $4.50 to $3.50 and set a hold rating for the company in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating and nine have given a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of Hold and an average target price of $3.27.

Stitch Fix Stock Up 0.7 %

NASDAQ:SFIX opened at $2.74 on Friday. The company’s 50 day moving average is $3.40 and its 200-day moving average is $3.25. The firm has a market cap of $347.54 million, a price-to-earnings ratio of -2.54 and a beta of 1.90. Stitch Fix has a 12 month low of $2.06 and a 12 month high of $5.05.

Insider Activity at Stitch Fix

In related news, CEO Matt Baer sold 44,230 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $5.00, for a total transaction of $221,150.00. Following the completion of the sale, the chief executive officer now directly owns 973,769 shares of the company’s stock, valued at $4,868,845. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. In related news, CEO Matt Baer sold 44,230 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 973,769 shares of the company’s stock, valued at approximately $4,868,845. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 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 transaction of $2,690,405.07. The disclosure for this sale can be found here. Insiders have sold a total of 584,282 shares of company stock worth $2,926,658 over the last 90 days. Insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

A number of large investors have recently bought and sold shares of SFIX. Price T Rowe Associates Inc. MD increased its position in Stitch Fix by 6.8% during the first quarter. Price T Rowe Associates Inc. MD now owns 84,451 shares of the company’s stock worth $223,000 after buying an additional 5,404 shares during the last quarter. Creative Planning boosted its position in Stitch Fix by 32.1% during the third quarter. Creative Planning now owns 25,477 shares of the company’s stock worth $72,000 after purchasing an additional 6,194 shares during the period. Federated Hermes Inc. increased its holdings in shares of Stitch Fix by 7.7% in the second quarter. Federated Hermes Inc. now owns 94,624 shares of the company’s stock valued at $393,000 after purchasing an additional 6,739 shares during the last quarter. CWM LLC grew its position in Stitch Fix by 132.5% during the second quarter. CWM LLC now owns 11,867 shares of the company’s stock worth $49,000 after buying an additional 6,762 shares in the last quarter. Finally, SG Americas Securities LLC increased its stake in Stitch Fix by 92.3% during the 2nd quarter. SG Americas Securities LLC now owns 19,780 shares of the company’s stock worth $82,000 after acquiring an additional 9,494 shares during the period. Institutional investors and hedge funds own 71.04% of the company’s stock.

Stitch Fix Company 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.