Andy Missan Sells 10,000 Shares of Fitbit Inc. (FIT) Stock
Fitbit Inc. (NYSE:FIT) EVP Andy Missan sold 10,000 shares of the business’s stock in a transaction that occurred on Thursday, October 6th. The shares were sold at an average price of $14.60, for a total transaction of $146,000.00. Following the completion of the sale, the executive vice president now owns 45,000 shares of the company’s stock, valued at $657,000. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website.
Andy Missan also recently made the following trade(s):
- On Tuesday, September 6th, Andy Missan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $15.14, for a total transaction of $227,100.00.
- On Monday, August 8th, Andy Missan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $15.61, for a total transaction of $234,150.00.
- On Wednesday, August 3rd, Andy Missan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $15.00, for a total transaction of $225,000.00.
Shares of Fitbit Inc. (NYSE:FIT) opened at 13.49 on Wednesday. The firm has a market capitalization of $3.00 billion, a PE ratio of 28.46 and a beta of 3.29. Fitbit Inc. has a one year low of $11.65 and a one year high of $41.97. The firm’s 50 day moving average is $15.21 and its 200-day moving average is $14.65.
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Fitbit (NYSE:FIT) last released its quarterly earnings data on Tuesday, August 2nd. The company reported $0.12 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.01. Fitbit had a return on equity of 14.55% and a net margin of 5.76%. The firm had revenue of $586.50 million for the quarter, compared to the consensus estimate of $578.48 million. During the same quarter in the prior year, the company posted $0.21 earnings per share. The firm’s revenue was up 46.5% on a year-over-year basis. On average, equities research analysts predict that Fitbit Inc. will post $1.18 earnings per share for the current fiscal year.
A number of institutional investors have recently added to or reduced their stakes in FIT. Bloom Tree Partners LLC purchased a new position in Fitbit during the first quarter worth approximately $29,552,000. Vanguard Group Inc. increased its position in Fitbit by 22.8% in the second quarter. Vanguard Group Inc. now owns 8,371,908 shares of the company’s stock worth $102,305,000 after buying an additional 1,556,199 shares in the last quarter. Glenmede Trust Co. NA purchased a new position in Fitbit during the second quarter worth approximately $16,733,000. FIL Ltd purchased a new position in Fitbit during the second quarter worth approximately $14,647,000. Finally, BlackRock Institutional Trust Company N.A. increased its position in Fitbit by 73.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,755,321 shares of the company’s stock worth $33,670,000 after buying an additional 1,163,567 shares in the last quarter. Hedge funds and other institutional investors own 55.41% of the company’s stock.
A number of research firms recently issued reports on FIT. Vetr downgraded shares of Fitbit from a “strong-buy” rating to a “buy” rating and set a $16.51 target price for the company. in a report on Wednesday, August 3rd. Mizuho restated a “buy” rating and issued a $20.00 target price on shares of Fitbit in a report on Wednesday, August 3rd. Pacific Crest restated a “hold” rating on shares of Fitbit in a report on Wednesday, June 22nd. Morgan Stanley restated an “overweight” rating and issued a $31.00 target price on shares of Fitbit in a report on Wednesday, August 31st. Finally, Zacks Investment Research downgraded shares of Fitbit from a “hold” rating to a “sell” rating in a report on Tuesday, July 12th. Two research analysts have rated the stock with a sell rating, eleven have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the stock. The company has an average rating of “Hold” and an average target price of $22.11.
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.
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