Stitch Fix (NASDAQ:SFIX – Get Free Report) had its target price upped by investment analysts at UBS Group from $5.00 to $6.00 in a research note issued to investors on Wednesday, Marketbeat reports. The brokerage presently has a “hold” rating on the stock. UBS Group’s target price indicates a potential upside of 5.08% from the company’s current price.
Other equities analysts also recently issued research reports about the stock. Telsey Advisory Group restated a “market perform” rating and issued a $6.00 price objective on shares of Stitch Fix in a research note on Wednesday, June 11th. William Blair raised Stitch Fix from a “market perform” rating to an “outperform” rating in a report on Monday, July 14th. Zacks Research upgraded Stitch Fix to a “hold” rating in a research note on Monday, August 11th. Finally, Wall Street Zen lowered Stitch Fix from a “buy” rating to a “hold” rating in a research report on Sunday, June 22nd. One analyst has rated the stock with a Buy rating and four have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Stitch Fix has an average rating of “Hold” and an average target price of $6.00.
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Stitch Fix Trading Up 4.0%
Shares of Stitch Fix stock opened at $5.71 on Wednesday. The company has a fifty day simple moving average of $5.06 and a 200-day simple moving average of $4.20. The stock has a market cap of $745.10 million, a price-to-earnings ratio of -12.41 and a beta of 2.03. Stitch Fix has a 12-month low of $2.21 and a 12-month high of $6.99.
Insider Buying and Selling
In related news, CFO David Aufderhaar sold 20,538 shares of the business’s stock in a transaction dated Tuesday, July 22nd. The stock was sold at an average price of $5.10, for a total value of $104,743.80. Following the transaction, the chief financial officer owned 937,338 shares in the company, valued at $4,780,423.80. The trade was a 2.14% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Anthony Bacos sold 90,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $5.00, for a total value of $450,000.00. Following the sale, the insider directly owned 829,966 shares of the company’s stock, valued at approximately $4,149,830. This represents a 9.78% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 957,536 shares of company stock worth $4,845,302. Corporate insiders own 16.95% of the company’s stock.
Hedge Funds Weigh In On Stitch Fix
Hedge funds and other institutional investors have recently bought and sold shares of the company. Northern Trust Corp increased its stake in Stitch Fix by 15.2% in the 4th quarter. Northern Trust Corp now owns 876,132 shares of the company’s stock valued at $3,776,000 after buying an additional 115,377 shares during the period. Ameriprise Financial Inc. increased its stake in shares of Stitch Fix by 36.3% during the fourth quarter. Ameriprise Financial Inc. now owns 424,182 shares of the company’s stock worth $1,828,000 after acquiring an additional 112,974 shares during the period. Bank of America Corp DE raised its holdings in Stitch Fix by 8.6% during the fourth quarter. Bank of America Corp DE now owns 115,072 shares of the company’s stock worth $496,000 after purchasing an additional 9,066 shares in the last quarter. Deutsche Bank AG lifted its position in Stitch Fix by 63.1% in the fourth quarter. Deutsche Bank AG now owns 77,147 shares of the company’s stock valued at $333,000 after purchasing an additional 29,836 shares during the period. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Stitch Fix by 16.4% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 57,277 shares of the company’s stock valued at $247,000 after purchasing an additional 8,066 shares during the period. 71.04% of the stock is currently owned by hedge funds and other institutional investors.
About Stitch Fix
(Get Free Report)
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.
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