Insider Selling: Fitbit, Inc. (NYSE:FIT) EVP Sells 5,000 Shares of Stock
Fitbit, Inc. (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $5.68, for a total transaction of $28,400.00. Following the completion of the sale, the executive vice president now owns 80,332 shares of the company’s stock, valued at $456,285.76. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink.
Andy Missan also recently made the following trade(s):
- On Thursday, June 1st, Andy Missan sold 10,000 shares of Fitbit stock. The shares were sold at an average price of $5.57, for a total transaction of $55,700.00.
Shares of Fitbit, Inc. (NYSE FIT) traded up 2.79% during mid-day trading on Tuesday, reaching $5.89. The company’s stock had a trading volume of 11,080,706 shares. The firm’s market capitalization is $1.36 billion. Fitbit, Inc. has a 1-year low of $4.90 and a 1-year high of $17.18. The company’s 50-day moving average is $5.38 and its 200 day moving average is $5.74.
Fitbit (NYSE:FIT) last announced its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.07. The business had revenue of $353.30 million during the quarter, compared to the consensus estimate of $341.24 million. Fitbit had a negative return on equity of 20.15% and a negative net margin of 13.79%. The business’s revenue for the quarter was down 39.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.12 earnings per share. On average, analysts expect that Fitbit, Inc. will post ($0.31) earnings per share for the current year.
A number of large investors have recently bought and sold shares of the stock. Guggenheim Capital LLC increased its position in Fitbit by 6.7% in the fourth quarter. Guggenheim Capital LLC now owns 36,211 shares of the scientific and technical instruments company’s stock valued at $266,000 after buying an additional 2,264 shares during the last quarter. Raymond James Financial Services Advisors Inc. boosted its stake in Fitbit by 14.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 33,666 shares of the scientific and technical instruments company’s stock valued at $199,000 after buying an additional 4,271 shares during the period. UBS Asset Management Americas Inc. boosted its stake in Fitbit by 5.8% in the first quarter. UBS Asset Management Americas Inc. now owns 86,177 shares of the scientific and technical instruments company’s stock valued at $510,000 after buying an additional 4,732 shares during the period. Oppenheimer & Co. Inc. boosted its stake in Fitbit by 18.3% in the first quarter. Oppenheimer & Co. Inc. now owns 35,913 shares of the scientific and technical instruments company’s stock valued at $213,000 after buying an additional 5,550 shares during the period. Finally, Intellectus Partners LLC boosted its stake in Fitbit by 6.2% in the first quarter. Intellectus Partners LLC now owns 155,096 shares of the scientific and technical instruments company’s stock valued at $918,000 after buying an additional 9,100 shares during the period. 55.71% of the stock is owned by hedge funds and other institutional investors.
A number of research firms recently commented on FIT. Zacks Investment Research upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.50 price target for the company in a report on Tuesday. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and issued a $8.00 target price on shares of Fitbit in a research report on Friday. Benchmark Co. reaffirmed a “buy” rating on shares of Fitbit in a research report on Thursday, August 3rd. Longbow Research reaffirmed a “hold” rating on shares of Fitbit in a research report on Thursday, August 3rd. Finally, Deutsche Bank AG reduced their target price on shares of Fitbit from $6.50 to $5.50 and set a “hold” rating on the stock in a research report on Thursday, August 3rd. Six analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Fitbit has a consensus rating of “Hold” and a consensus target price of $7.93.
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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