Fitbit, Inc. (FIT) Director Sells $94,350.00 in Stock
Fitbit, Inc. (NYSE:FIT) Director Jon Callaghan sold 15,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $6.29, for a total transaction of $94,350.00. The transaction was disclosed in a filing with the SEC, which is accessible through this link.
Jon Callaghan also recently made the following trade(s):
- On Monday, October 2nd, Jon Callaghan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $6.89, for a total transaction of $103,350.00.
- On Friday, September 1st, Jon Callaghan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $5.90, for a total transaction of $88,500.00.
Fitbit (NYSE:FIT) last posted its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Fitbit had a negative return on equity of 20.67% and a negative net margin of 13.79%. The business had revenue of $392.50 million during the quarter, compared to the consensus estimate of $391.70 million. During the same period in the prior year, the company posted $0.19 EPS. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year.
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A number of hedge funds have recently bought and sold shares of FIT. Principal Financial Group Inc. bought a new position in Fitbit in the 2nd quarter worth approximately $114,000. Amalgamated Bank boosted its stake in Fitbit by 20.1% in the 2nd quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company’s stock worth $117,000 after purchasing an additional 3,698 shares during the period. Kissinger Financial Services LLC bought a new position in Fitbit in the 2nd quarter worth approximately $153,000. Fortaleza Asset Management Inc. bought a new position in Fitbit in the 3rd quarter worth approximately $154,000. Finally, Capital Fund Management S.A. bought a new position in Fitbit in the 2nd quarter worth approximately $157,000. Institutional investors and hedge funds own 55.20% of the company’s stock.
A number of equities analysts have weighed in on the stock. Vetr upgraded shares of Fitbit from a “buy” rating to a “strong-buy” rating and set a $5.79 target price for the company in a research report on Wednesday, August 2nd. Cowen and Company set a $6.00 target price on shares of Fitbit and gave the stock a “hold” rating in a research report on Thursday, August 3rd. Morgan Stanley cut their target price on shares of Fitbit from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.50 target price for the company in a research report on Tuesday, August 8th. Finally, Dougherty & Co reiterated a “neutral” rating on shares of Fitbit in a research report on Monday, July 31st. Five equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $7.45.
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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