Brokerages Set Stitch Fix, Inc. (NASDAQ:SFIX) PT at $3.45

Shares of Stitch Fix, Inc. (NASDAQ:SFIX) have been given an average recommendation of “Reduce” by the eleven brokerages that are currently covering the company, Marketbeat Ratings reports. Two research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company. The average twelve-month price target among brokers that have issued a report on the stock in the last year is $3.36.

A number of analysts have issued reports on SFIX shares. Mizuho boosted their target price on Stitch Fix from $2.00 to $3.00 and gave the company an “underperform” rating in a research report on Monday, June 10th. Wedbush reissued a “neutral” rating and set a $3.00 target price on shares of Stitch Fix in a research note on Wednesday, June 5th. UBS Group lifted 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. Canaccord Genuity Group reduced their price target on shares of Stitch Fix from $4.50 to $3.50 and set a “hold” rating on the stock in a research report on Wednesday. Finally, Telsey Advisory Group restated a “market perform” rating and issued a $4.00 price objective on shares of Stitch Fix in a report on Wednesday.

Insider Transactions at Stitch Fix

In other Stitch Fix news, Director Katrina Lake sold 537,007 shares of the firm’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $5.01, for a total value of $2,690,405.07. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, Director Katrina Lake sold 537,007 shares of the company’s stock in a transaction dated 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 legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Anthony Bacos sold 42,381 shares of the firm’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $4.13, for a total value of $175,033.53. Following the sale, the insider now directly owns 627,957 shares in the company, valued at approximately $2,593,462.41. The disclosure for this sale can be found here. In the last three months, insiders 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

A number of hedge funds have recently modified their holdings of SFIX. Cubist Systematic Strategies LLC acquired a new position in Stitch Fix in the second quarter valued at $99,000. Disciplined Growth Investors Inc. MN boosted its position in shares of Stitch Fix by 34.9% in the 2nd 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. Algert Global LLC purchased a new position in Stitch Fix during the 2nd quarter worth approximately $290,000. Susquehanna Fundamental Investments LLC increased its position in Stitch Fix by 56.4% during the second quarter. Susquehanna Fundamental Investments LLC now owns 153,360 shares of the company’s stock worth $636,000 after buying an additional 55,290 shares during the period. Finally, Sei Investments Co. acquired a new position in Stitch Fix during the second quarter worth approximately $81,000. 71.04% of the stock is owned by hedge funds and other institutional investors.

Stitch Fix Price Performance

Shares of SFIX opened at $2.27 on Friday. The firm has a 50-day simple moving average of $3.83 and a two-hundred day simple moving average of $3.23. The stock has a market cap of $277.71 million, a PE ratio of -2.23 and a beta of 1.92. Stitch Fix has a 1-year low of $2.06 and a 1-year high of $5.05.

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.