Stitch Fix (NASDAQ:SFIX) Trading Up 4.6%

Stitch Fix, Inc. (NASDAQ:SFIX) rose 4.6% on Tuesday . The company traded as high as $4.51 and last traded at $4.51. Approximately 145,553 shares changed hands during trading, a decline of 92% from the average daily volume of 1,826,991 shares. The stock had previously closed at $4.31.

Analyst Upgrades and Downgrades

SFIX has been the topic of a number of recent analyst reports. Canaccord Genuity Group boosted their price target on Stitch Fix from $3.50 to $4.50 and gave the stock a “hold” rating in a research report on Thursday, June 27th. UBS Group boosted their price objective on Stitch Fix from $2.80 to $3.80 and gave the stock a “neutral” rating in a report on Monday, July 8th. Telsey Advisory Group restated a “market perform” rating and set a $4.00 price objective on shares of Stitch Fix in a report on Thursday, May 30th. Truist Financial boosted their price objective on Stitch Fix from $3.50 to $4.00 and gave the stock a “hold” rating in a report on Wednesday, June 5th. Finally, Mizuho boosted their price objective on Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a report on Monday, June 10th. Two equities research analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.45.

Stitch Fix Stock Up 2.8 %

The firm has a market capitalization of $541.97 million, a P/E ratio of -4.23 and a beta of 1.97. The firm has a 50 day moving average of $3.53 and a 200-day moving average of $3.06.

Stitch Fix (NASDAQ:SFIX) last released its earnings results on Tuesday, June 4th. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.25) by $0.10. Stitch Fix had a negative return on equity of 41.40% and a negative net margin of 8.68%. The firm had revenue of $322.73 million during the quarter, compared to analysts’ expectations of $305.93 million. As a group, research analysts expect that Stitch Fix, Inc. will post -0.73 EPS for the current year.

Insiders Place Their Bets

In other Stitch Fix news, CEO Matt Baer sold 44,230 shares of the company’s 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 completion of the sale, the chief executive officer now directly owns 973,769 shares in the company, valued at $4,868,845. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, CAO Sarah Barkema sold 30,000 shares of the company’s stock in a transaction on Friday, June 7th. The shares were sold at an average price of $3.74, for a total transaction of $112,200.00. Following the completion of the transaction, the chief accounting officer now directly owns 108,535 shares in the company, valued at $405,920.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Matt Baer sold 44,230 shares of the company’s 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 of the company’s stock, valued at $4,868,845. The disclosure for this sale can be found here. Insiders sold 656,663 shares of company stock worth $3,213,892 over the last three months. Insiders own 25.90% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. Pallas Capital Advisors LLC acquired a new position in shares of Stitch Fix during the second quarter worth $48,000. Baader Bank Aktiengesellschaft acquired a new position in shares of Stitch Fix during the second quarter worth $46,000. SG Americas Securities LLC increased its holdings in shares of Stitch Fix by 92.3% during the second quarter. SG Americas Securities LLC now owns 19,780 shares of the company’s stock worth $82,000 after buying an additional 9,494 shares in the last quarter. CWM LLC increased its holdings 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 buying an additional 6,762 shares in the last quarter. Finally, Plato Investment Management Ltd increased its holdings in Stitch Fix by 138.6% in the first quarter. Plato Investment Management Ltd now owns 27,807 shares of the company’s stock valued at $73,000 after purchasing an additional 16,155 shares during the period. 71.04% of the stock is currently owned by institutional investors and hedge funds.

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.