Insider Selling: Fitbit, Inc. (FIT) Director Sells $103,350.00 in Stock

Fitbit, Inc. (NYSE:FIT) Director Jon Callaghan sold 15,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $6.89, for a total transaction of $103,350.00. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

Jon Callaghan also recently made the following trade(s):

  • On Friday, September 1st, Jon Callaghan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $5.90, for a total transaction of $88,500.00.
  • On Tuesday, August 1st, Jon Callaghan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $5.09, for a total transaction of $76,350.00.

Shares of Fitbit, Inc. (NYSE FIT) opened at 6.46 on Friday. The stock’s market cap is $1.50 billion. Fitbit, Inc. has a one year low of $5.62 and a one year high of $14.61. The company has a 50-day moving average of $6.55 and a 200 day moving average of $6.55.

Fitbit (NYSE:FIT) last issued its quarterly earnings results 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. Fitbit had a negative net margin of 13.79% and a negative return on equity of 20.67%. The business had revenue of $353.30 million for the quarter, compared to analyst estimates of $341.24 million. During the same quarter in the prior year, the business posted $0.12 EPS. Fitbit’s revenue for the quarter was down 39.8% compared to the same quarter last year. On average, analysts predict that Fitbit, Inc. will post ($0.31) earnings per share for the current year.

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FIT has been the topic of a number of recent analyst reports. BidaskClub upgraded shares of Fitbit from a “strong sell” rating to a “sell” rating in a report on Wednesday, July 19th. Stifel Nicolaus reiterated a “hold” rating and set a $6.00 price target (down previously from $7.00) on shares of Fitbit in a report on Friday, June 23rd. Vetr upgraded shares of Fitbit from a “sell” rating to a “hold” rating and set a $6.47 price target on the stock in a report on Tuesday, September 19th. ValuEngine upgraded shares of Fitbit from a “strong sell” rating to a “sell” rating in a report on Tuesday, August 1st. Finally, Oppenheimer Holdings, Inc. reiterated an “outperform” rating and set a $8.00 price target on shares of Fitbit in a report on Wednesday. Six research analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus price target of $7.45.

Several hedge funds have recently added to or reduced their stakes in the company. Intellectus Partners LLC boosted its holdings in shares of Fitbit by 15.8% in the 2nd quarter. Intellectus Partners LLC now owns 179,546 shares of the scientific and technical instruments company’s stock valued at $953,000 after acquiring an additional 24,450 shares during the last quarter. California State Teachers Retirement System boosted its holdings in shares of Fitbit by 23.1% in the 2nd quarter. California State Teachers Retirement System now owns 309,530 shares of the scientific and technical instruments company’s stock valued at $1,644,000 after acquiring an additional 57,987 shares during the last quarter. The Manufacturers Life Insurance Company boosted its holdings in shares of Fitbit by 2,045.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 139,450 shares of the scientific and technical instruments company’s stock valued at $741,000 after acquiring an additional 132,949 shares during the last quarter. State Street Corp boosted its holdings in shares of Fitbit by 68.0% in the 2nd quarter. State Street Corp now owns 3,330,776 shares of the scientific and technical instruments company’s stock valued at $17,686,000 after acquiring an additional 1,348,058 shares during the last quarter. Finally, Royal Bank of Canada boosted its holdings in shares of Fitbit by 138.9% in the 2nd quarter. Royal Bank of Canada now owns 303,155 shares of the scientific and technical instruments company’s stock valued at $1,610,000 after acquiring an additional 176,267 shares during the last quarter. 56.04% of the stock is currently owned by institutional investors and hedge funds.

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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