Stitch Fix (NASDAQ:SFIX) Stock Price Down 5.5% - What's Next?

Key Points

• Stitch Fix's stock dropped 5.5% on Tuesday, closing at $5.27 after trading as low as $5.33, with an unusually low trading volume of 82,030 shares compared to an average of over 2 million.
• Analysts have mixed reviews on Stitch Fix, with one upgrading it to "outperform" while another downgraded it to "hold," resulting in an average recommendation of "hold" and a price target of $5.67.
• Insider trading activity has been significant, with insiders selling a total of 957,536 shares valued at over $4.8 million in the last 90 days, which reflects a declining ownership percentage in the company.

Stitch Fix, Inc. (NASDAQ:SFIX - Get Free Report)'s share price was down 5.5% during mid-day trading on Tuesday . The stock traded as low as $5.33 and last traded at $5.27. Approximately 82,030 shares traded hands during mid-day trading, a decline of 96% from the average daily volume of 2,174,129 shares. The stock had previously closed at $5.57.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on SFIX shares. UBS Group reiterated a "neutral" rating on shares of Stitch Fix in a report on Wednesday. Zacks Research upgraded shares of Stitch Fix to a "hold" rating in a report on Monday, August 11th. Telsey Advisory Group reiterated a "market perform" rating and issued a $6.00 price objective on shares of Stitch Fix in a report on Thursday. William Blair upgraded shares of Stitch Fix from a "market perform" rating to an "outperform" rating in a report on Monday, July 14th. Finally, Wall Street Zen lowered shares of Stitch Fix from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. One equities research analyst has rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat.com, Stitch Fix currently has a consensus rating of "Hold" and an average price target of $6.00.

Stitch Fix Trading Up 4.0%

The firm has a market cap of $745.10 million, a price-to-earnings ratio of -12.41 and a beta of 2.03. The business's 50-day simple moving average is $5.06 and its two-hundred day simple moving average is $4.20.

Insider Activity

In other Stitch Fix news, insider Anthony Bacos sold 90,000 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $5.00, for a total transaction of $450,000.00. Following the completion of the sale, the insider owned 829,966 shares of the company's stock, valued at approximately $4,149,830. This represents a 9.78% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO David Aufderhaar sold 20,538 shares of the stock in a transaction that occurred on Tuesday, July 22nd. The shares were sold at an average price of $5.10, for a total transaction of $104,743.80. Following the sale, the chief financial officer directly owned 937,338 shares of the company's stock, valued at $4,780,423.80. This represents a 2.14% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 957,536 shares of company stock worth $4,845,302. 16.95% of the stock is owned by company insiders.

Institutional Trading of Stitch Fix

Several hedge funds have recently modified their holdings of the stock. Ameritas Investment Partners Inc. increased its stake in Stitch Fix by 32.3% during the 2nd quarter. Ameritas Investment Partners Inc. now owns 10,839 shares of the company's stock valued at $40,000 after purchasing an additional 2,645 shares in the last quarter. Fuller & Thaler Asset Management Inc. increased its stake in Stitch Fix by 3.3% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 84,760 shares of the company's stock valued at $275,000 after purchasing an additional 2,700 shares in the last quarter. Wescott Financial Advisory Group LLC increased its stake in Stitch Fix by 30.0% during the 2nd quarter. Wescott Financial Advisory Group LLC now owns 13,000 shares of the company's stock valued at $48,000 after purchasing an additional 3,000 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Stitch Fix by 7.0% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 61,270 shares of the company's stock valued at $199,000 after purchasing an additional 3,993 shares in the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in Stitch Fix by 12.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 39,807 shares of the company's stock valued at $147,000 after purchasing an additional 4,303 shares in the last quarter. Institutional investors own 71.04% of the company's stock.

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.