Fitbit Inc (FIT) EVP Sells $29,500.00 in Stock

Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $5.90, for a total transaction of $29,500.00. Following the completion of the sale, the executive vice president now owns 119,981 shares in the company, valued at approximately $707,887.90. The sale was disclosed in a legal filing with the SEC, which is accessible through this link.

Andy Missan also recently made the following trade(s):

  • On Friday, December 1st, Andy Missan sold 5,000 shares of Fitbit stock. The stock was sold at an average price of $6.81, for a total transaction of $34,050.00.
  • On Wednesday, November 1st, Andy Missan sold 5,000 shares of Fitbit stock. The stock was sold at an average price of $6.29, for a total transaction of $31,450.00.

Shares of Fitbit Inc (NYSE FIT) traded down $0.15 during mid-day trading on Thursday, hitting $5.98. The stock had a trading volume of 5,330,000 shares, compared to its average volume of 4,810,000. The company has a market cap of $1,420.00 and a PE ratio of -3.62. Fitbit Inc has a one year low of $4.90 and a one year high of $8.40.

Fitbit (NYSE:FIT) last announced its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) EPS for the quarter, beating analysts’ consensus estimates of ($0.04) by $0.03. The company had revenue of $392.50 million during the quarter, compared to analysts’ expectations of $391.70 million. Fitbit had a negative return on equity of 28.33% and a negative net margin of 23.35%. Fitbit’s revenue was down 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 EPS. analysts forecast that Fitbit Inc will post -0.49 EPS for the current fiscal year.

Several hedge funds have recently made changes to their positions in the company. HighTower Advisors LLC increased its stake in shares of Fitbit by 5.6% in the 2nd quarter. HighTower Advisors LLC now owns 32,831 shares of the scientific and technical instruments company’s stock valued at $174,000 after acquiring an additional 1,735 shares during the last quarter. Amalgamated Bank increased its stake in 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 purchasing an additional 3,698 shares in the last quarter. Oppenheimer & Co. Inc. increased its stake in Fitbit by 11.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 40,063 shares of the scientific and technical instruments company’s stock worth $213,000 after purchasing an additional 4,150 shares in the last quarter. American International Group Inc. increased its stake in Fitbit by 8.1% during the 3rd quarter. American International Group Inc. now owns 117,140 shares of the scientific and technical instruments company’s stock worth $815,000 after purchasing an additional 8,758 shares in the last quarter. Finally, Ameriprise Financial Inc. increased its stake in Fitbit by 35.9% during the 2nd quarter. Ameriprise Financial Inc. now owns 35,837 shares of the scientific and technical instruments company’s stock worth $186,000 after purchasing an additional 9,461 shares in the last quarter. 58.25% of the stock is owned by institutional investors.

Several brokerages recently issued reports on FIT. Vetr downgraded shares of Fitbit from a “strong-buy” rating to a “hold” rating and set a $6.72 price target on the stock. in a research report on Thursday, September 7th. Zacks Investment Research downgraded shares of Fitbit from a “buy” rating to a “hold” rating in a research report on Tuesday, October 17th. Dougherty & Co reiterated a “neutral” rating on shares of Fitbit in a research report on Wednesday, September 27th. ValuEngine upgraded shares of Fitbit from a “strong sell” rating to a “sell” rating in a research report on Friday, September 15th. Finally, Stifel Nicolaus reiterated a “hold” rating and set a $6.00 price target on shares of Fitbit in a research report on Friday, November 3rd. Five equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. The stock has an average rating of “Hold” and a consensus target price of $6.94.

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About Fitbit

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.

Insider Buying and Selling by Quarter for Fitbit (NYSE:FIT)

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