Stitch Fix (NASDAQ:SFIX) Shares Gap Up to $19.25

Shares of Stitch Fix Inc (NASDAQ:SFIX) gapped up prior to trading on Tuesday . The stock had previously closed at $18.25, but opened at $19.25. Stitch Fix shares last traded at $20.06, with a volume of 8,112,809 shares traded.

SFIX has been the subject of a number of research reports. Royal Bank of Canada lowered their price objective on Stitch Fix from $52.00 to $43.00 and set an “outperform” rating for the company in a research report on Tuesday, July 2nd. SunTrust Banks lifted their price objective on Stitch Fix from $43.00 to $44.00 and gave the stock a “buy” rating in a research report on Thursday, June 6th. Zacks Investment Research lowered Stitch Fix from a “buy” rating to a “hold” rating in a research report on Saturday, August 3rd. Stifel Nicolaus lowered their price objective on Stitch Fix from $35.00 to $28.00 and set a “buy” rating for the company in a research report on Friday. Finally, Needham & Company LLC initiated coverage on Stitch Fix in a research report on Monday, July 1st. They issued a “hold” rating for the company. Eight equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $34.80.

The company has a market capitalization of $1.85 billion, a price-to-earnings ratio of 51.44, a price-to-earnings-growth ratio of 2.28 and a beta of 3.35. The company has a 50-day moving average price of $19.68 and a 200-day moving average price of $25.31.

In other Stitch Fix news, major shareholder Peter H. Fenton sold 105,731 shares of the company’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $30.95, for a total value of $3,272,374.45. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Scott Darling sold 1,000 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were sold at an average price of $26.12, for a total value of $26,120.00. Following the sale, the insider now owns 60,157 shares of the company’s stock, valued at $1,571,300.84. The disclosure for this sale can be found here. Insiders have sold a total of 474,856 shares of company stock worth $12,028,769 in the last quarter. 56.97% of the stock is currently owned by company insiders.

Several large investors have recently added to or reduced their stakes in the company. A.R.T. Advisors LLC lifted its position in shares of Stitch Fix by 16.6% during the 2nd quarter. A.R.T. Advisors LLC now owns 170,130 shares of the company’s stock worth $5,442,000 after buying an additional 24,200 shares during the last quarter. JPMorgan Chase & Co. lifted its position in shares of Stitch Fix by 76.6% during the 2nd quarter. JPMorgan Chase & Co. now owns 214,252 shares of the company’s stock worth $6,517,000 after buying an additional 92,963 shares during the last quarter. Baillie Gifford & Co. lifted its position in shares of Stitch Fix by 23.3% during the 2nd quarter. Baillie Gifford & Co. now owns 4,488,246 shares of the company’s stock worth $143,580,000 after buying an additional 849,117 shares during the last quarter. State Board of Administration of Florida Retirement System bought a new stake in shares of Stitch Fix during the 2nd quarter worth $292,000. Finally, Valeo Financial Advisors LLC lifted its position in shares of Stitch Fix by 30.3% during the 2nd quarter. Valeo Financial Advisors LLC now owns 2,159 shares of the company’s stock worth $69,000 after buying an additional 502 shares during the last quarter. Hedge funds and other institutional investors own 39.43% of the company’s stock.

About Stitch Fix (NASDAQ:SFIX)

Stitch Fix, Inc sells a range of apparel, shoes, and accessories through its Website and mobile app 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. and changed its name to Stitch Fix, Inc in October 2011.

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