Stitch Fix (NASDAQ:SFIX) Given Market Perform Rating at Telsey Advisory Group

Stitch Fix (NASDAQ:SFIX)‘s stock had its “market perform” rating restated by Telsey Advisory Group in a research note issued to investors on Wednesday, Benzinga reports. They currently have a $4.00 price objective on the stock. Telsey Advisory Group’s price objective would indicate a potential downside of 4.31% from the company’s current price.

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

Stitch Fix Price Performance

Shares of NASDAQ:SFIX opened at $4.18 on Wednesday. The company’s 50 day simple moving average is $3.94 and its 200 day simple moving average is $3.20. The stock has a market capitalization of $511.38 million, a price-to-earnings ratio of -4.10 and a beta of 1.92. Stitch Fix has a 1 year low of $2.06 and a 1 year high of $5.05.

Insider Transactions at Stitch Fix

In other news, insider Anthony Bacos sold 42,381 shares of Stitch Fix stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $4.13, for a total transaction of $175,033.53. Following the transaction, the insider now owns 627,957 shares in the company, valued at $2,593,462.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Anthony Bacos sold 42,381 shares of Stitch Fix stock in a transaction on Tuesday, July 9th. The shares were sold at an average price of $4.13, for a total transaction of $175,033.53. Following the transaction, the insider now owns 627,957 shares in the company, valued at $2,593,462.41. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 transaction of $221,150.00. Following the transaction, the chief executive officer now owns 973,769 shares in the company, valued at approximately $4,868,845. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 626,663 shares of company stock worth $3,101,692. Company insiders own 25.90% of the company’s stock.

Hedge Funds Weigh In On Stitch Fix

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Price T Rowe Associates Inc. MD lifted its holdings in Stitch Fix by 6.8% in the first quarter. Price T Rowe Associates Inc. MD now owns 84,451 shares of the company’s stock valued at $223,000 after buying an additional 5,404 shares during the period. Federated Hermes Inc. increased its stake in 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 in the last quarter. CWM LLC increased its stake in Stitch Fix by 132.5% in the second 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. SG Americas Securities LLC increased its stake in Stitch Fix by 92.3% in the second quarter. SG Americas Securities LLC now owns 19,780 shares of the company’s stock valued at $82,000 after purchasing an additional 9,494 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its stake in Stitch Fix by 6.2% in the first quarter. Russell Investments Group Ltd. now owns 182,833 shares of the company’s stock valued at $483,000 after purchasing an additional 10,698 shares in the last quarter. Institutional investors and hedge funds 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.