Fitbit Inc. (NYSE:FIT) fell 2.5% during mid-day trading on Tuesday . The stock traded as low as $15.80 and last traded at $15.90, with a volume of 4,977,397 shares trading hands. The stock had previously closed at $16.31.

A number of equities research analysts have recently weighed in on FIT shares. Longbow Research upgraded shares of Fitbit to a “buy” rating and set a $20.00 price objective for the company in a report on Monday. Vetr upgraded shares of Fitbit from a “buy” rating to a “strong-buy” rating and set a $17.63 price objective for the company in a report on Tuesday, August 9th. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $25.00 price objective on shares of Fitbit in a report on Wednesday, August 31st. Bank of America Corp. restated a “buy” rating and issued a $24.00 price objective on shares of Fitbit in a report on Thursday, September 1st. Finally, Zacks Investment Research upgraded shares of Fitbit from a “sell” rating to a “hold” rating in a report on Friday, August 5th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Buy” and an average price target of $22.66.

The stock has a 50-day moving average price of $15.06 and a 200 day moving average price of $14.53. The stock has a market cap of $3.54 billion, a P/E ratio of 33.63 and a beta of 3.30.

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Fitbit (NYSE:FIT) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. The company earned $586.50 million during the quarter, compared to the consensus estimate of $578.48 million. Fitbit had a return on equity of 14.55% and a net margin of 5.76%. Fitbit’s revenue was up 46.5% on a year-over-year basis. During the same period last year, the company earned $0.21 earnings per share. On average, equities analysts expect that Fitbit Inc. will post $1.18 earnings per share for the current year.

In other news, major shareholder Philip Douglas Black sold 50,000 shares of Fitbit stock in a transaction on Thursday, August 4th. The stock was sold at an average price of $15.62, for a total transaction of $781,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andy Missan sold 15,000 shares of Fitbit stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $15.14, for a total value of $227,100.00. Following the sale, the executive vice president now owns 50,000 shares of the company’s stock, valued at $757,000. The disclosure for this sale can be found here. Insiders own 37.29% of the company’s stock.

Several hedge funds have recently added to or reduced their stakes in FIT. Rathbone Brothers plc increased its stake in Fitbit by 6.1% in the second quarter. Rathbone Brothers plc now owns 14,850 shares of the company’s stock valued at $181,000 after buying an additional 850 shares during the period. 1832 Asset Management L.P. increased its stake in Fitbit by 7.6% in the second quarter. 1832 Asset Management L.P. now owns 17,000 shares of the company’s stock valued at $208,000 after buying an additional 1,200 shares during the period. Diligent Investors LLC increased its stake in Fitbit by 6.5% in the second quarter. Diligent Investors LLC now owns 35,718 shares of the company’s stock valued at $436,000 after buying an additional 2,190 shares during the period. IFC Holdings Incorporated FL increased its stake in Fitbit by 25.4% in the second quarter. IFC Holdings Incorporated FL now owns 13,399 shares of the company’s stock valued at $157,000 after buying an additional 2,710 shares during the period. Finally, Legal & General Group Plc increased its stake in Fitbit by 71.1% in the second quarter. Legal & General Group Plc now owns 10,967 shares of the company’s stock valued at $134,000 after buying an additional 4,558 shares during the period. Institutional investors and hedge funds own 55.41% of the company’s stock.

Fitbit Company Profile

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.

5 Day Chart for NYSE:FIT

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