Fitbit, Inc. (NYSE:FIT) was the recipient of some unusual options trading on Monday. Stock traders acquired 7,820 call options on the company. This is an increase of approximately 256% compared to the average daily volume of 2,199 call options.

In related news, Director Christopher B. Paisley acquired 25,000 shares of the company’s stock in a transaction dated Monday, June 5th. The stock was purchased at an average price of $5.39 per share, with a total value of $134,750.00. Following the completion of the purchase, the director now owns 36,442 shares in the company, valued at approximately $196,422.38. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Steven Joseph Murray sold 500,000 shares of the stock in a transaction that occurred on Friday, May 26th. The shares were sold at an average price of $5.33, for a total value of $2,665,000.00. Following the sale, the director now directly owns 11,442 shares of the company’s stock, valued at approximately $60,985.86. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. UBS Oconnor LLC bought a new position in Fitbit during the first quarter valued at approximately $1,480,000. HighTower Advisors LLC bought a new position in Fitbit during the first quarter valued at approximately $185,000. Credit Suisse AG raised its position in Fitbit by 150.3% in the first quarter. Credit Suisse AG now owns 473,673 shares of the scientific and technical instruments company’s stock valued at $2,804,000 after buying an additional 284,410 shares during the last quarter. Investment Centers of America Inc. bought a new position in Fitbit during the first quarter valued at approximately $237,000. Finally, Two Sigma Securities LLC bought a new position in Fitbit during the first quarter valued at approximately $232,000. 52.65% of the stock is owned by hedge funds and other institutional investors.

Fitbit (NYSE:FIT) opened at 5.30 on Thursday. The stock’s 50 day moving average price is $5.54 and its 200 day moving average price is $6.21. Fitbit has a one year low of $4.99 and a one year high of $17.18. The company’s market capitalization is $1.21 billion.

Fitbit (NYSE:FIT) last released its quarterly earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported ($0.15) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.25) by $0.10. The firm had revenue of $298.94 million during the quarter, compared to analyst estimates of $277.48 million. Fitbit had a negative return on equity of 14.57% and a negative net margin of 8.86%. Equities analysts anticipate that Fitbit will post ($0.35) EPS for the current fiscal year.

A number of equities analysts recently commented on FIT shares. Vetr downgraded Fitbit from a “strong-buy” rating to a “buy” rating and set a $5.84 target price for the company. in a report on Monday. Oppenheimer Holdings Inc. restated an “outperform” rating and set a $8.00 target price on shares of Fitbit in a report on Monday. Stifel Nicolaus restated a “hold” rating and set a $6.00 target price (down previously from $7.00) on shares of Fitbit in a report on Friday, June 23rd. Longbow Research restated a “neutral” rating on shares of Fitbit in a report on Wednesday, June 21st. Finally, Citigroup Inc. restated a “sell” rating and set a $5.00 target price on shares of Fitbit in a report on Tuesday, June 6th. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have issued a buy rating to the company. Fitbit presently has an average rating of “Hold” and an average price target of $8.30.

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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.

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