Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating)’s share price gapped down prior to trading on Wednesday after Truist Financial lowered their price target on the stock from $8.00 to $6.00. The stock had previously closed at $4.72, but opened at $4.41. Stitch Fix shares last traded at $4.89, with a volume of 144,374 shares traded.
SFIX has been the topic of a number of other reports. Evercore ISI decreased their price objective on Stitch Fix from $10.00 to $7.00 and set an “in-line” rating on the stock in a report on Wednesday. Telsey Advisory Group dropped their price objective on shares of Stitch Fix from $8.00 to $6.00 and set a “market perform” rating for the company in a research report on Wednesday. UBS Group restated a “hold” rating and issued a $10.00 price objective on shares of Stitch Fix in a research report on Friday, June 10th. Piper Sandler restated an “underweight” rating on shares of Stitch Fix in a research report on Friday, July 22nd. Finally, Canaccord Genuity Group cut shares of Stitch Fix from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $12.00 to $7.00 in a research report on Wednesday. Two research analysts have rated the stock with a sell rating, seventeen have given a hold rating and one has assigned a buy rating to the company. Based on data from MarketBeat.com, Stitch Fix presently has a consensus rating of “Hold” and a consensus price target of $12.58.
Insider Activity
In other news, Director J William Gurley bought 1,000,000 shares of the company’s stock in a transaction dated Friday, July 8th. The shares were bought at an average cost of $5.43 per share, with a total value of $5,430,000.00. Following the acquisition, the director now owns 2,149,762 shares in the company, valued at $11,673,207.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 27.01% of the stock is owned by insiders.
Institutional Inflows and Outflows
Several large investors have recently bought and sold shares of the stock. Working Capital Advisors UK Ltd. grew its position in shares of Stitch Fix by 8.0% during the 1st quarter. Working Capital Advisors UK Ltd. now owns 11,979,753 shares of the company’s stock worth $120,636,000 after purchasing an additional 891,379 shares in the last quarter. Vanguard Group Inc. boosted its position in shares of Stitch Fix by 6.5% during the 1st quarter. Vanguard Group Inc. now owns 7,964,510 shares of the company’s stock worth $80,203,000 after acquiring an additional 483,213 shares in the last quarter. Slate Path Capital LP boosted its position in shares of Stitch Fix by 43.6% during the 4th quarter. Slate Path Capital LP now owns 4,282,056 shares of the company’s stock worth $81,016,000 after acquiring an additional 1,300,000 shares in the last quarter. Disciplined Growth Investors Inc. MN boosted its position in shares of Stitch Fix by 3.2% during the 1st quarter. Disciplined Growth Investors Inc. MN now owns 3,011,295 shares of the company’s stock worth $30,324,000 after acquiring an additional 93,276 shares in the last quarter. Finally, Federated Hermes Inc. boosted its position in shares of Stitch Fix by 56.6% during the 2nd quarter. Federated Hermes Inc. now owns 2,858,763 shares of the company’s stock worth $14,122,000 after acquiring an additional 1,033,699 shares in the last quarter. 73.41% of the stock is owned by institutional investors.
Stitch Fix Trading Up 6.6 %
The firm has a market cap of $544.10 million, a price-to-earnings ratio of -6.06 and a beta of 1.96. The company’s 50-day moving average is $5.97 and its 200-day moving average is $7.66.
Stitch Fix Company Profile
Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc.