Telsey Advisory Group Reiterates Market Perform Rating for Stitch Fix (NASDAQ:SFIX)

Telsey Advisory Group restated their market perform rating on shares of Stitch Fix (NASDAQ:SFIX) in a report issued on Wednesday morning, Benzinga reports. They currently have a $4.00 price objective on the stock.

A number of other equities research analysts also recently commented on SFIX. Wedbush reaffirmed a neutral rating and set a $3.00 target price on shares of Stitch Fix in a report on Wednesday, June 5th. Mizuho lifted their target price on Stitch Fix from $2.00 to $3.00 and gave the stock an underperform rating in a report on Monday, June 10th. Truist Financial boosted their price target on Stitch Fix from $3.50 to $4.00 and gave the company a hold rating in a report on Wednesday, June 5th. UBS Group boosted their price target on Stitch Fix from $2.80 to $3.80 and gave the company a neutral rating in a report on Monday, July 8th. Finally, Canaccord Genuity Group boosted their price target on Stitch Fix from $3.50 to $4.50 and gave the company a hold rating in a report on Thursday, June 27th. Two analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and an average price target of $3.45.

Stitch Fix Stock Performance

Shares of SFIX stock opened at $3.94 on Wednesday. Stitch Fix has a fifty-two week low of $2.06 and a fifty-two week high of $5.05. The firm has a market capitalization of $482.02 million, a price-to-earnings ratio of -3.86 and a beta of 1.92. The stock’s 50-day simple moving average is $3.93 and its 200-day simple moving average is $3.21.

Insider Buying and Selling

In related news, Director Katrina Lake sold 537,007 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $5.01, for a total transaction of $2,690,405.07. The transaction was disclosed in a filing with the SEC, which is available at this link. 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 value of $221,150.00. Following the completion of the sale, the chief executive officer now owns 973,769 shares of the company’s stock, valued at $4,868,845. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Katrina Lake sold 537,007 shares of Stitch Fix 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 disclosure for this sale can be found here. Insiders have sold 626,663 shares of company stock worth $3,101,692 in the last quarter. 25.90% of the stock is owned by insiders.

Institutional Investors Weigh In On Stitch Fix

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Disciplined Growth Investors Inc. MN grew its position in shares of Stitch Fix by 34.9% in the second quarter. Disciplined Growth Investors Inc. MN now owns 9,273,817 shares of the company’s stock valued at $38,486,000 after purchasing an additional 2,396,920 shares during the period. Renaissance Technologies LLC grew its position in shares of Stitch Fix by 11.7% in the second quarter. Renaissance Technologies LLC now owns 4,432,600 shares of the company’s stock valued at $18,395,000 after purchasing an additional 465,900 shares during the period. Maple Rock Capital Partners Inc. purchased a new stake in shares of Stitch Fix in the first quarter valued at $8,994,000. Hodges Capital Management Inc. grew its position in shares of 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 purchasing an additional 1,860,950 shares during the period. Finally, Charles Schwab Investment Management Inc. grew its position in 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 valued at $7,218,000 after acquiring an additional 99,914 shares during the period. Hedge funds and other institutional investors 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.