Canaccord Genuity Group Lowers Stitch Fix (NASDAQ:SFIX) Price Target to $3.50

Stitch Fix (NASDAQ:SFIX) had its price objective trimmed by Canaccord Genuity Group from $4.50 to $3.50 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has a hold rating on the stock.

Other analysts have also recently issued research reports about the stock. Mizuho upped their target price 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 raised their target price on Stitch Fix from $3.50 to $4.00 and gave the stock a hold rating in a research report on Wednesday, June 5th. UBS Group increased their price objective on Stitch Fix from $2.80 to $3.80 and gave the stock a neutral rating in a research note on Monday, July 8th. Wedbush reaffirmed a neutral rating and issued a $3.00 target price on shares of Stitch Fix in a report on Wednesday, June 5th. Finally, Telsey Advisory Group reissued a market perform rating and set a $4.00 price target on shares of Stitch Fix in a report on Wednesday. Two research analysts have rated the stock with a sell rating and nine have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of Hold and a consensus price target of $3.36.

Stitch Fix Price Performance

Shares of Stitch Fix stock opened at $2.84 on Wednesday. Stitch Fix has a 52-week low of $2.06 and a 52-week high of $5.05. The firm has a market capitalization of $347.45 million, a PE ratio of -2.78 and a beta of 1.92. The company’s fifty day moving average price is $3.76 and its two-hundred day moving average price is $3.23.

Insiders Place Their Bets

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

Several large investors have recently modified their holdings of SFIX. Lodestar Private Asset Management LLC bought a new position in shares of Stitch Fix during the 1st quarter valued at about $29,000. Victory Capital Management Inc. bought a new position in Stitch Fix in the fourth quarter valued at approximately $42,000. Baader Bank Aktiengesellschaft bought a new position in Stitch Fix in the second quarter valued at approximately $46,000. Pallas Capital Advisors LLC acquired a new position in shares of Stitch Fix in the second quarter valued at approximately $48,000. Finally, CWM LLC increased its position in shares of 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 acquiring an additional 6,762 shares in the last quarter. 71.04% of the stock is currently owned by institutional investors.

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.