Stitch Fix (NASDAQ:SFIX) Trading Up 3.8%

Stitch Fix, Inc. (NASDAQ:SFIX) shot up 3.8% during mid-day trading on Tuesday . The company traded as high as $4.14 and last traded at $4.13. 681,857 shares changed hands during mid-day trading, a decline of 62% from the average session volume of 1,783,846 shares. The stock had previously closed at $3.98.

Analysts Set New Price Targets

Several brokerages have recently commented on SFIX. Mizuho raised their target price on Stitch Fix from $2.00 to $3.00 and gave the stock an “underperform” rating in a research report on Monday, June 10th. Truist Financial lifted their price objective on Stitch Fix from $3.50 to $4.00 and gave the company a “hold” rating in a research report on Wednesday, June 5th. UBS Group assumed coverage on Stitch Fix in a research report on Monday, April 8th. They set a “neutral” rating and a $2.80 price objective for the company. Canaccord Genuity Group lifted their price objective on Stitch Fix from $3.50 to $4.50 and gave the company a “hold” rating in a research report on Thursday, June 27th. Finally, Wedbush reissued a “neutral” rating and set a $3.00 price objective on shares of Stitch Fix in a research report on Wednesday, June 5th. Two analysts have rated the stock with a sell rating and ten have assigned a hold rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $3.37.

Stitch Fix Price Performance

The business has a 50 day moving average price of $2.94 and a 200 day moving average price of $2.99.

Stitch Fix (NASDAQ:SFIX) last posted its quarterly earnings data on Tuesday, June 4th. The company reported ($0.15) EPS for the quarter, topping analysts’ consensus estimates of ($0.25) by $0.10. The business had revenue of $322.73 million for the quarter, compared to analyst estimates of $305.93 million. Stitch Fix had a negative return on equity of 41.40% and a negative net margin of 8.68%. On average, research analysts predict that Stitch Fix, Inc. will post -0.73 EPS for the current fiscal year.

Insider Activity at Stitch Fix

In related news, CAO Sarah Barkema sold 30,000 shares of the business’s stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $3.74, for a total transaction of $112,200.00. Following 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 filing with the Securities & Exchange Commission, which is available at this hyperlink. Corporate 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. Plato Investment Management Ltd boosted its holdings in shares of Stitch Fix by 138.6% in the 1st quarter. Plato Investment Management Ltd now owns 27,807 shares of the company’s stock worth $73,000 after acquiring an additional 16,155 shares in the last quarter. Maple Rock Capital Partners Inc. acquired a new position in Stitch Fix during the 1st quarter worth $8,994,000. Price T Rowe Associates Inc. MD lifted its holdings in Stitch Fix by 6.8% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 84,451 shares of the company’s stock worth $223,000 after buying an additional 5,404 shares in the last quarter. EntryPoint Capital LLC lifted its holdings in Stitch Fix by 576.6% during the 1st quarter. EntryPoint Capital LLC now owns 67,981 shares of the company’s stock worth $179,000 after buying an additional 57,933 shares in the last quarter. Finally, Russell Investments Group Ltd. lifted its holdings in Stitch Fix by 6.2% during the 1st quarter. Russell Investments Group Ltd. now owns 182,833 shares of the company’s stock worth $483,000 after buying an additional 10,698 shares in the last quarter. 71.04% of the stock is currently owned by institutional investors.

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.