Fitbit, Inc. (FIT) Director Jon Callaghan Sells 15,000 Shares
Fitbit, Inc. (NYSE:FIT) Director Jon Callaghan sold 15,000 shares of the company’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $6.89, for a total transaction of $103,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.
Jon Callaghan also recently made the following trade(s):
- On Friday, September 1st, Jon Callaghan sold 15,000 shares of Fitbit stock. The stock was sold at an average price of $5.90, for a total transaction of $88,500.00.
- On Tuesday, August 1st, Jon Callaghan sold 15,000 shares of Fitbit stock. The stock was sold at an average price of $5.09, for a total transaction of $76,350.00.
Fitbit, Inc. (FIT) traded down 3.48% during mid-day trading on Tuesday, hitting $6.66. The stock had a trading volume of 9,016,379 shares. The firm’s 50-day moving average price is $6.56 and its 200-day moving average price is $6.56. The stock’s market cap is $1.55 billion. Fitbit, Inc. has a 1-year low of $5.62 and a 1-year high of $15.05.
Fitbit (NYSE:FIT) last posted its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.07. Fitbit had a negative net margin of 13.79% and a negative return on equity of 20.67%. The firm had revenue of $353.30 million for the quarter, compared to the consensus estimate of $341.24 million. During the same period in the previous year, the firm earned $0.12 EPS. The business’s revenue for the quarter was down 39.8% compared to the same quarter last year. On average, equities analysts expect that Fitbit, Inc. will post ($0.31) earnings per share for the current year.
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A number of institutional investors have recently added to or reduced their stakes in the stock. Principal Financial Group Inc. bought a new stake in Fitbit in the 2nd quarter worth about $114,000. Amalgamated Bank lifted its position in shares of Fitbit by 20.1% during the 2nd quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company’s stock worth $117,000 after buying an additional 3,698 shares in the last quarter. Kissinger Financial Services LLC bought a new position in shares of Fitbit during the 2nd quarter worth approximately $153,000. Capital Fund Management S.A. bought a new position in shares of Fitbit during the 2nd quarter worth approximately $157,000. Finally, Croft Leominster Inc. bought a new position in shares of Fitbit during the 1st quarter worth approximately $166,000. Institutional investors and hedge funds own 56.04% of the company’s stock.
FIT has been the subject of a number of research reports. Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a report on Tuesday, September 12th. Oppenheimer Holdings Inc. reissued an “outperform” rating and issued a $8.00 price target on shares of Fitbit in a research note on Tuesday, August 29th. Vetr upgraded Fitbit from a “buy” rating to a “strong-buy” rating and set a $6.56 price target on the stock in a report on Monday, August 28th. Finally, ValuEngine upgraded Fitbit from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Seven equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and seven have assigned a buy rating to the stock. Fitbit currently has an average rating of “Hold” and a consensus target price of $7.45.
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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