Steven Joseph Murray Sells 500,000 Shares of Fitbit, Inc. (NYSE:FIT) Stock
Fitbit, Inc. (NYSE:FIT) Director Steven Joseph Murray sold 500,000 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $5.73, for a total transaction of $2,865,000.00. Following the completion of the sale, the director now directly owns 11,442 shares of the company’s stock, valued at approximately $65,562.66. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.
Steven Joseph Murray also recently made the following trade(s):
- On Friday, May 26th, Steven Joseph Murray sold 500,000 shares of Fitbit stock. The stock was sold at an average price of $5.33, for a total transaction of $2,665,000.00.
Fitbit, Inc. (NYSE:FIT) traded up 0.68% on Wednesday, reaching $5.93. 5,807,646 shares of the company’s stock were exchanged. The company’s market capitalization is $1.37 billion. The company has a 50 day moving average price of $5.35 and a 200-day moving average price of $5.75. Fitbit, Inc. has a 1-year low of $4.90 and a 1-year high of $17.18.
Fitbit (NYSE:FIT) last issued its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.15) by $0.07. Fitbit had a negative return on equity of 20.15% and a negative net margin of 13.79%. The firm had revenue of $353.30 million for the quarter, compared to analyst estimates of $341.24 million. During the same period last year, the company earned $0.12 EPS. The firm’s quarterly revenue was down 39.8% on a year-over-year basis. On average, equities research analysts anticipate that Fitbit, Inc. will post ($0.31) earnings per share for the current year.
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A number of hedge funds have recently modified their holdings of FIT. Principal Financial Group Inc. acquired a new stake in shares of Fitbit during the second quarter worth about $114,000. Croft Leominster Inc. acquired a new stake in shares of Fitbit during the first quarter worth about $166,000. Kissinger Financial Services LLC acquired a new stake in shares of Fitbit during the second quarter worth about $153,000. HighTower Advisors LLC acquired a new stake in shares of Fitbit during the first quarter worth about $185,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of 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 worth $199,000 after buying an additional 4,271 shares during the last quarter. 55.71% of the stock is currently owned by hedge funds and other institutional investors.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Fitbit from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Monday, May 8th. Benchmark Co. assumed coverage on shares of Fitbit in a report on Tuesday, April 25th. They set a “buy” rating and a $10.00 target price for the company. SunTrust Banks, Inc. reaffirmed a “buy” rating and set a $7.00 target price on shares of Fitbit in a report on Friday, April 14th. Vetr lowered shares of 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, June 26th. Finally, Morgan Stanley dropped their target price on shares of Fitbit from $7.00 to $6.50 and set an “equal weight” rating for the company in a report on Monday, July 31st. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company has a consensus rating of “Hold” and an average price target 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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