Fitbit, Inc. (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the company’s stock in a transaction that occurred on Friday, August 4th. The shares were sold at an average price of $5.68, for a total value of $28,400.00. Following the transaction, the executive vice president now directly owns 80,332 shares of the company’s stock, valued at $456,285.76. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink.
Andy Missan also recently made the following trade(s):
- On Thursday, June 1st, Andy Missan sold 10,000 shares of Fitbit stock. The shares were sold at an average price of $5.57, for a total value of $55,700.00.
Shares of Fitbit, Inc. (FIT) opened at 5.23 on Friday. The company’s market capitalization is $1.22 billion. Fitbit, Inc. has a 12-month low of $4.90 and a 12-month high of $17.18. The firm’s 50-day moving average is $5.49 and its 200-day moving average is $5.64.
Fitbit (NYSE:FIT) last posted its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.07. The firm had revenue of $353.30 million during the quarter, compared to the consensus estimate of $341.24 million. Fitbit had a negative net margin of 13.79% and a negative return on equity of 20.67%. The business’s revenue for the quarter was down 39.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.12 EPS. On average, equities research analysts anticipate that Fitbit, Inc. will post ($0.31) EPS for the current fiscal year.
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A number of hedge funds have recently bought and sold shares of the stock. DnB Asset Management AS increased its stake in shares of Fitbit by 57.8% in the second quarter. DnB Asset Management AS now owns 16,352,508 shares of the scientific and technical instruments company’s stock worth $86,832,000 after buying an additional 5,989,005 shares during the period. Vanguard Group Inc. increased its stake in shares of Fitbit by 13.9% in the second quarter. Vanguard Group Inc. now owns 12,808,192 shares of the scientific and technical instruments company’s stock worth $68,012,000 after buying an additional 1,567,672 shares during the period. Renaissance Technologies LLC increased its stake in shares of Fitbit by 193.6% in the second quarter. Renaissance Technologies LLC now owns 4,741,700 shares of the scientific and technical instruments company’s stock worth $25,178,000 after buying an additional 3,126,706 shares during the period. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of Fitbit during the first quarter worth $24,404,000. Finally, State Street Corp increased its stake in shares of Fitbit by 68.0% in the second quarter. State Street Corp now owns 3,330,776 shares of the scientific and technical instruments company’s stock worth $17,686,000 after buying an additional 1,348,058 shares during the period. 55.86% of the stock is owned by hedge funds and other institutional investors.
Several equities analysts have recently issued reports on FIT shares. Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $7.00 price objective for the company in a research report on Monday, May 8th. Benchmark Co. started coverage on Fitbit in a research report on Tuesday, April 25th. They set a “buy” rating and a $10.00 price objective for the company. Vetr downgraded Fitbit from a “strong-buy” rating to a “buy” rating and set a $5.84 target price for the company. in a research report on Monday, June 26th. Morgan Stanley cut their target price on Fitbit from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Monday, July 31st. Finally, Stifel Nicolaus restated a “hold” rating and issued a $7.00 target price on shares of Fitbit in a research report on Thursday, May 4th. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. Fitbit has an average rating of “Hold” and an average price target of $7.93.
Fitbit, Inc is a provider of health and fitness devices. The Company’s platform combines connected health and fitness devices with software and services, including an online dashboard and mobile applications, data analytics, motivational and social tools, personalized insights and virtual coaching through customized fitness plans and interactive workouts.
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