Morgan Stanley Trims Stitch Fix (NASDAQ:SFIX) Target Price to $4.00

Stitch Fix (NASDAQ:SFIXGet Rating) had its target price reduced by Morgan Stanley from $5.00 to $4.00 in a research report released on Wednesday morning, The Fly reports. They currently have an equal weight rating on the stock.

SFIX has been the subject of a number of other research reports. Robert W. Baird dropped their target price on Stitch Fix from $11.00 to $7.00 in a report on Monday, June 13th. MKM Partners reissued a neutral rating and set a $6.00 target price on shares of Stitch Fix in a report on Thursday, July 28th. UBS Group reissued a hold rating and set a $10.00 target price on shares of Stitch Fix in a report on Friday, June 10th. Evercore ISI dropped their target price on Stitch Fix from $13.00 to $10.00 and set an in-line rating for the company in a report on Friday, June 10th. Finally, Truist Financial dropped their price target on Stitch Fix from $12.00 to $8.00 and set a hold rating for the company in a research note on Friday, June 10th. Two equities research analysts have rated the stock with a sell rating, seventeen have assigned a hold rating and one has issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of Hold and an average target price of $12.58.

Stitch Fix Price Performance

SFIX stock opened at $4.85 on Wednesday. The company has a fifty day moving average price of $5.95 and a two-hundred day moving average price of $7.64. Stitch Fix has a one year low of $4.40 and a one year high of $44.65. The stock has a market cap of $524.63 million, a price-to-earnings ratio of -5.84 and a beta of 1.96.

Insider Transactions at Stitch Fix

In other news, Director J William Gurley purchased 1,000,000 shares of Stitch Fix stock in a transaction dated Friday, July 8th. The shares were bought at an average cost of $5.43 per share, for a total transaction of $5,430,000.00. Following the completion of the acquisition, the director now owns 2,149,762 shares in the company, valued at approximately $11,673,207.66. The acquisition was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 27.01% of the company’s stock.

Institutional Trading of Stitch Fix

Institutional investors have recently added to or reduced their stakes in the stock. Prospera Financial Services Inc bought a new stake in Stitch Fix in the first quarter valued at approximately $74,000. Gladius Capital Management LP bought a new stake in Stitch Fix in the first quarter valued at approximately $76,000. Lazard Asset Management LLC bought a new stake in Stitch Fix in the second quarter valued at approximately $49,000. Raymond James Financial Services Advisors Inc. boosted its holdings in Stitch Fix by 20.4% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 10,005 shares of the company’s stock valued at $189,000 after acquiring an additional 1,697 shares during the last quarter. Finally, Corton Capital Inc. bought a new stake in Stitch Fix in the fourth quarter valued at approximately $200,000. 73.41% of the stock is currently owned by institutional investors.

Stitch Fix Company Profile

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Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile application in the United States. It offers denim, dresses, blouses, skirts, shoes, jewelry, and handbags for men, women, and kids under the Stitch Fix brand. The company was formerly known as rack habit inc.

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