Insider Selling: Fitbit Inc (FIT) EVP Sells 5,000 Shares of Stock
Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $6.81, for a total transaction of $34,050.00. Following the sale, the executive vice president now directly owns 109,475 shares of the company’s stock, valued at $745,524.75. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink.
Andy Missan also recently made the following trade(s):
- On Wednesday, November 1st, Andy Missan sold 5,000 shares of Fitbit stock. The shares were sold at an average price of $6.29, for a total transaction of $31,450.00.
- On Monday, October 2nd, Andy Missan sold 5,000 shares of Fitbit stock. The shares were sold at an average price of $6.89, for a total transaction of $34,450.00.
- On Wednesday, September 27th, Andy Missan sold 25,000 shares of Fitbit stock. The shares were sold at an average price of $7.00, for a total transaction of $175,000.00.
Shares of Fitbit Inc (NYSE FIT) traded down $0.03 during trading hours on Tuesday, hitting $6.66. 3,763,509 shares of the company traded hands, compared to its average volume of 7,625,066. Fitbit Inc has a fifty-two week low of $4.90 and a fifty-two week high of $8.40.
Several analysts recently commented on FIT shares. Zacks Investment Research raised shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.75 target price for the company in a research note on Monday, October 30th. Vetr raised shares of Fitbit from a “buy” rating to a “strong-buy” rating and set a $6.17 target price for the company in a research note on Tuesday, August 22nd. BidaskClub raised shares of Fitbit from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Morgan Stanley increased their target price on shares of Fitbit from $6.50 to $7.00 and gave the company an “equal weight” rating in a research note on Friday, October 20th. Finally, Dougherty & Co reissued a “neutral” rating on shares of Fitbit in a research note on Wednesday, October 4th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $7.11.
Large investors have recently modified their holdings of the stock. Public Employees Retirement System of Ohio acquired a new position in Fitbit in the 3rd quarter valued at approximately $396,000. Cubist Systematic Strategies LLC acquired a new position in Fitbit in the 3rd quarter valued at approximately $1,020,000. Crestline Management LP acquired a new position in Fitbit in the 3rd quarter valued at approximately $2,029,000. Lenox Wealth Management Inc. increased its stake in Fitbit by 23,560.9% in the 3rd quarter. Lenox Wealth Management Inc. now owns 139,126 shares of the scientific and technical instruments company’s stock valued at $968,000 after buying an additional 138,538 shares during the period. Finally, Allianz Asset Management GmbH increased its stake in Fitbit by 25.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 5,440,776 shares of the scientific and technical instruments company’s stock valued at $37,868,000 after buying an additional 1,096,000 shares during the period. Institutional investors and hedge funds own 58.36% of the company’s stock.
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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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