Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, September 10th. The stock was sold at an average price of $5.94, for a total value of $44,550.00. Following the transaction, the executive vice president now owns 161,881 shares of the company’s stock, valued at $961,573.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website.
Andy Missan also recently made the following trade(s):
- On Thursday, August 16th, Andy Missan sold 10,000 shares of Fitbit stock. The stock was sold at an average price of $5.43, for a total value of $54,300.00.
- On Wednesday, August 1st, Andy Missan sold 5,000 shares of Fitbit stock. The stock was sold at an average price of $5.86, for a total value of $29,300.00.
- On Monday, July 2nd, Andy Missan sold 5,000 shares of Fitbit stock. The stock was sold at an average price of $6.48, for a total value of $32,400.00.
FIT traded down $0.41 during trading on Wednesday, reaching $5.53. The stock had a trading volume of 8,891,600 shares, compared to its average volume of 5,939,603. The company has a market capitalization of $1.26 billion, a price-to-earnings ratio of -9.18 and a beta of 1.77. Fitbit Inc has a 1-year low of $4.51 and a 1-year high of $7.79.
Fitbit (NYSE:FIT) last released its earnings results on Wednesday, August 1st. The scientific and technical instruments company reported ($0.22) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.24) by $0.02. The firm had revenue of $299.34 million during the quarter, compared to the consensus estimate of $285.40 million. Fitbit had a negative return on equity of 25.74% and a negative net margin of 23.70%. The firm’s revenue for the quarter was down 15.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.08) earnings per share. research analysts predict that Fitbit Inc will post -0.7 earnings per share for the current fiscal year.
Several brokerages have recently issued reports on FIT. Stifel Nicolaus boosted their price objective on Fitbit from $5.50 to $6.00 and gave the stock a “hold” rating in a research report on Thursday, August 2nd. Zacks Investment Research downgraded Fitbit from a “hold” rating to a “sell” rating in a research report on Monday, August 6th. Cascend Securities began coverage on Fitbit in a research report on Thursday, May 17th. They set a “hold” rating for the company. ValuEngine upgraded Fitbit from a “hold” rating to a “buy” rating in a research report on Monday, August 20th. Finally, Wedbush set a $6.00 price objective on Fitbit and gave the stock a “hold” rating in a research report on Saturday, June 9th. Four research analysts have rated the stock with a sell rating, ten have given a hold rating and four have assigned a buy rating to the stock. Fitbit presently has an average rating of “Hold” and a consensus price target of $6.12.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in FIT. Alps Advisors Inc. acquired a new stake in Fitbit in the first quarter worth approximately $121,000. Swiss National Bank lifted its position in Fitbit by 7.5% in the first quarter. Swiss National Bank now owns 305,500 shares of the scientific and technical instruments company’s stock worth $1,558,000 after purchasing an additional 21,200 shares during the period. Schwab Charles Investment Management Inc. lifted its position in Fitbit by 11.9% in the first quarter. Schwab Charles Investment Management Inc. now owns 920,339 shares of the scientific and technical instruments company’s stock worth $4,694,000 after purchasing an additional 97,997 shares during the period. Alambic Investment Management L.P. acquired a new stake in Fitbit in the first quarter worth approximately $2,454,000. Finally, Northern Trust Corp lifted its position in Fitbit by 3.6% in the first quarter. Northern Trust Corp now owns 2,168,106 shares of the scientific and technical instruments company’s stock worth $11,058,000 after purchasing an additional 75,327 shares during the period. Hedge funds and other institutional investors own 61.58% of the company’s stock.
Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic smartwatches; Fitbit Aria 2 Wi-Fi smart scales; and a range of accessories, such as bands and frames for its devices, as well as Fitbit Flyer, a wireless headphone designed for fitness.
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