Stitch Fix, Inc. (NASDAQ:SFIX – Get Rating) traded some unusual options on Monday. Stock investors bought 15,908 put options on the stock. This is a 46% increase from the typical daily volume of 10,925 put options.
In other Stitch Fix news, director J. William Gurley bought 1,000,000 shares of the stock in a transaction on Friday, July 8th. The shares were purchased at an average price of $5.43 per share for a total value of $5,430,000.00. Upon completion of the transaction, the Director now owns 2,149,762 shares of the Company, valued at approximately $11,673,207.66. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC’s website. 27.01% of the shares are currently owned by company insiders.
Institutional inflows and outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Corton Capital Inc. acquired a new position in Stitch Fix valued at approximately $200,000 during the fourth quarter. Gotham Asset Management LLC acquired a new interest in Stitch Fix valued at approximately $581,000 during the fourth quarter. Engineers Gate Manager LP increased its position in Stitch Fix by 1,153.6% during the first quarter. Engineers Gate Manager LP now owns 448,505 shares of the Company’s stock valued at $4,516,000, having purchased an additional 412,727 shares during the period. The State of Michigan Retirement System increased its position in Stitch Fix by 175.7% during the first quarter. The State of Michigan Retirement System now owns 1,176,983 shares of the company, valued at $11,852,000, having purchased an additional 750,000 shares during the period. Finally, the Teacher Retirement System of Texas increased its position in Stitch Fix by 26.0% in the fourth quarter. Teacher Retirement System of Texas now owns 13,186 shares of the company, valued at $249,000, having purchased an additional 2,725 shares during the period. 73.41% of the shares are currently owned by hedge funds and other institutional investors.
Stitch Fix stock increased by 3.8%
NASDAQ SFIX shares rose $0.18 midday Monday to hit $4.96. 225,182 shares of the company were traded compared to an average volume of 3,683,985. Stitch Fix has a 1-year low of $4.61 and a 1-year high of $44.65. The company has a 50-day simple moving average of $5.98 and a 200-day simple moving average of $7.72.
Analyst upgrades and downgrades
A number of research companies have recently published reports on SFIX. JPMorgan Chase & Co. lowered its target price on Stitch Fix shares from $10.00 to $8.00, rating the company “neutral” in a research note on Friday, June 10. BMO Capital Markets lowered its price target on Stitch Fix shares to $8.00 from $11.00 in a research note on Friday, June 10. Truist Financial lowered its price target on Stitch Fix shares to $8.00 from $12.00 and issued a research note on Friday, June 10, stating a “hold” rating on the company. KeyCorp began reporting shares of Stitch Fix in a research note on Thursday, July 21. They gave the company a “sector weight” rating. Finally, on Monday, June 13, Robert W. Baird lowered the target price on Stitch Fix shares from $11.00 to $7.00 in a research note. Two analysts have rated the stock with a sell rating, sixteen have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $13.95.
About Stitch Fix
Stitch Fix, Inc sells a line of apparel, footwear 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 children under the Stitch Fix brand. The company was formerly known as Rack Habit Inc.
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