Insider Selling: Fitbit, Inc. (NYSE:FIT) Director Sells 500,000 Shares of Stock

Fitbit, Inc. (NYSE:FIT) Director Steven Joseph Murray sold 500,000 shares of the firm’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $5.73, for a total value of $2,865,000.00. Following the sale, the director now directly owns 11,442 shares in the company, valued at approximately $65,562.66. The sale was disclosed in a document filed with the SEC, which is accessible through this link.

Steven Joseph Murray also recently made the following trade(s):

  • On Friday, May 26th, Steven Joseph Murray sold 500,000 shares of Fitbit stock. The stock was sold at an average price of $5.33, for a total value of $2,665,000.00.

Fitbit, Inc. (NYSE FIT) traded down 0.57% during mid-day trading on Friday, hitting $5.23. The company had a trading volume of 4,346,719 shares. The firm’s market cap is $1.22 billion. Fitbit, Inc. has a 52-week low of $4.90 and a 52-week high of $17.18. The stock’s 50 day moving average price is $5.49 and its 200 day moving average price is $5.64.

Fitbit (NYSE:FIT) last posted its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) EPS for the quarter, beating the consensus estimate of ($0.15) by $0.07. Fitbit had a negative return on equity of 20.67% and a negative net margin of 13.79%. The firm had revenue of $353.30 million for the quarter, compared to analysts’ expectations of $341.24 million. During the same period last year, the firm earned $0.12 EPS. The firm’s revenue was down 39.8% compared to the same quarter last year. On average, equities research analysts predict 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 FIT. DnB Asset Management AS boosted its stake in Fitbit by 81.2% in the first quarter. DnB Asset Management AS now owns 10,363,503 shares of the scientific and technical instruments company’s stock valued at $61,352,000 after buying an additional 4,644,977 shares in the last quarter. State Street Corp boosted its position in shares of Fitbit by 14.0% in the fourth quarter. State Street Corp now owns 1,631,848 shares of the scientific and technical instruments company’s stock valued at $11,946,000 after buying an additional 199,927 shares during the period. AlpInvest Partners B.V. boosted its position in shares of Fitbit by 220.6% in the first quarter. AlpInvest Partners B.V. now owns 617,547 shares of the scientific and technical instruments company’s stock valued at $3,656,000 after buying an additional 424,942 shares during the period. Quantbot Technologies LP boosted its position in shares of Fitbit by 36.9% in the first quarter. Quantbot Technologies LP now owns 93,661 shares of the scientific and technical instruments company’s stock valued at $554,000 after buying an additional 25,256 shares during the period. Finally, Swiss National Bank boosted its position in shares of Fitbit by 10.3% in the first quarter. Swiss National Bank now owns 238,200 shares of the scientific and technical instruments company’s stock valued at $1,410,000 after buying an additional 22,300 shares during the period. Hedge funds and other institutional investors own 55.86% of the company’s stock.

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus reissued a “hold” rating and set a $7.00 target price on shares of Fitbit in a research report on Thursday, May 4th. Dougherty & Co reissued a “neutral” rating on shares of Fitbit in a research report on Saturday, June 3rd. Deutsche Bank AG cut their price target on Fitbit from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. Benchmark Co. reaffirmed a “buy” rating on shares of Fitbit in a research report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $8.00 price target on shares of Fitbit in a research report on Friday, August 4th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and an average price target of $7.93.

About Fitbit

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.

Insider Buying and Selling by Quarter for Fitbit (NYSE:FIT)

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