Campbell & CO Investment Adviser LLC acquired a new stake in shares of Fitbit Inc (NYSE:FIT) in the 1st quarter, Holdings Channel reports. The institutional investor acquired 15,879 shares of the scientific and technical instruments company’s stock, valued at approximately $94,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in Fitbit by 46.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,443 shares of the scientific and technical instruments company’s stock valued at $92,000 after purchasing an additional 5,854 shares in the last quarter. Squarepoint Ops LLC raised its stake in Fitbit by 1,972.9% during the fourth quarter. Squarepoint Ops LLC now owns 824,186 shares of the scientific and technical instruments company’s stock valued at $4,096,000 after purchasing an additional 784,426 shares in the last quarter. Intellectus Partners LLC raised its stake in shares of Fitbit by 1,022.8% in the fourth quarter. Intellectus Partners LLC now owns 640,000 shares of the scientific and technical instruments company’s stock valued at $3,181,000 after acquiring an additional 583,000 shares during the period. Legal & General Group Plc raised its stake in shares of Fitbit by 10.7% in the fourth quarter. Legal & General Group Plc now owns 78,236 shares of the scientific and technical instruments company’s stock valued at $388,000 after acquiring an additional 7,578 shares during the period. Finally, Hsbc Holdings PLC raised its stake in shares of Fitbit by 8.5% in the fourth quarter. Hsbc Holdings PLC now owns 61,812 shares of the scientific and technical instruments company’s stock valued at $307,000 after acquiring an additional 4,831 shares during the period. 66.85% of the stock is owned by hedge funds and other institutional investors.
NYSE FIT opened at $4.52 on Thursday. The company has a current ratio of 1.87, a quick ratio of 1.57 and a debt-to-equity ratio of 0.15. The stock has a market capitalization of $1.02 billion, a PE ratio of -7.53 and a beta of 1.59. Fitbit Inc has a 12 month low of $4.23 and a 12 month high of $7.70.
Fitbit (NYSE:FIT) last posted its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.07. The firm had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $259.71 million. Fitbit had a negative net margin of 12.01% and a negative return on equity of 18.79%. The business’s revenue for the quarter was up 9.7% on a year-over-year basis. During the same period in the prior year, the business posted ($0.17) earnings per share. As a group, equities research analysts anticipate that Fitbit Inc will post -0.41 earnings per share for the current year.
In other news, EVP Andy Missan sold 7,500 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $4.99, for a total value of $37,425.00. Following the transaction, the executive vice president now directly owns 116,914 shares in the company, valued at $583,400.86. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Over the last 90 days, insiders sold 22,594 shares of company stock worth $116,772. Company insiders own 18.60% of the company’s stock.
FIT has been the topic of several recent analyst reports. Roth Capital set a $8.00 target price on shares of Fitbit and gave the company a “buy” rating in a research note on Friday, March 8th. ValuEngine downgraded shares of Fitbit from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. William Blair reissued a “market perform” rating on shares of Fitbit in a research note on Monday, March 11th. DA Davidson raised shares of Fitbit from a “neutral” rating to a “buy” rating and increased their target price for the company from $5.50 to $7.00 in a research note on Thursday, February 28th. Finally, Wedbush downgraded shares of Fitbit from an “outperform” rating to a “neutral” rating and set a $6.50 target price on the stock. in a research note on Friday, February 22nd. Two research analysts have rated the stock with a sell rating, five have given a hold rating and four have given a buy rating to the stock. Fitbit currently has a consensus rating of “Hold” and an average price target of $6.08.
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Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Charge 3, Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Ace, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic and Fitbit Versa 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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