Stitch Fix's (SFIX) "Market Perform" Rating Reiterated at Telsey Advisory Group

Key Points

• Telsey Advisory Group has reissued a "market perform" rating for Stitch Fix (NASDAQ:SFIX) with a price target of $6.00, indicating a potential upside of 9.29% from the stock's last close.
• Several analysts have recently adjusted their ratings, with Wall Street Zen downgrading the stock to "hold" while UBS Group raised its price target to $6.00.
• Insider trading activity has been significant, with Director Katrina Lake selling 453,485 shares on July 22, and insiders collectively selling 957,536 shares over the past three months.

Telsey Advisory Group reaffirmed their market perform rating on shares of Stitch Fix (NASDAQ:SFIX - Free Report) in a research report report published on Thursday morning,Benzinga reports. They currently have a $6.00 target price on the stock.

Several other research firms also recently issued reports on SFIX. Zacks Research upgraded shares of Stitch Fix to a "hold" rating in a report on Monday, August 11th. Wall Street Zen downgraded shares of Stitch Fix from a "buy" rating to a "hold" rating in a report on Sunday, June 22nd. William Blair upgraded shares of Stitch Fix from a "market perform" rating to an "outperform" rating in a report on Monday, July 14th. Finally, UBS Group boosted their price objective on shares of Stitch Fix from $5.00 to $6.00 and gave the stock a "hold" rating in a report on Wednesday. One investment analyst has rated the stock with a Buy rating and four have given a Hold rating to the company. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $6.00.

Stitch Fix Trading Down 0.7%

Stitch Fix stock traded down $0.04 on Thursday, reaching $5.67. 3,158,182 shares of the stock were exchanged, compared to its average volume of 2,108,590. The stock has a market cap of $739.88 million, a PE ratio of -12.33 and a beta of 2.03. Stitch Fix has a twelve month low of $2.21 and a twelve month high of $6.99. The firm has a fifty day moving average price of $5.09 and a two-hundred day moving average price of $4.21.

Insider Buying and Selling at Stitch Fix

In related news, insider Anthony Bacos sold 90,000 shares of the company's stock in a transaction dated 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 owned 829,966 shares of the company's stock, valued at $4,149,830. The trade was a 9.78% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO David Aufderhaar sold 20,538 shares of the company's stock in a transaction dated Tuesday, July 22nd. The shares were sold at an average price of $5.10, for a total transaction of $104,743.80. Following the completion of the sale, the chief financial officer directly owned 937,338 shares in the company, valued at approximately $4,780,423.80. The trade was a 2.14% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 957,536 shares of company stock worth $4,845,302. Insiders own 16.95% of the company's stock.

Institutional Trading of Stitch Fix

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Russell Investments Group Ltd. grew its stake in Stitch Fix by 29.2% during the first quarter. Russell Investments Group Ltd. now owns 328,342 shares of the company's stock worth $1,067,000 after buying an additional 74,142 shares during the last quarter. Caption Management LLC bought a new stake in Stitch Fix during the first quarter worth about $216,000. Point72 Asset Management L.P. bought a new stake in Stitch Fix during the fourth quarter worth about $353,000. Nuveen LLC bought a new stake in Stitch Fix during the first quarter worth about $4,159,000. Finally, Vanguard Group Inc. grew its stake in Stitch Fix by 7.9% during the first quarter. Vanguard Group Inc. now owns 6,982,536 shares of the company's stock worth $22,693,000 after buying an additional 513,422 shares during the last quarter. Institutional investors own 71.04% of the company's stock.

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.