Fitbit Inc (FIT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of Fitbit Inc (NYSE:FIT) have been given a consensus recommendation of “Hold” by the twenty-one analysts that are covering the stock, MarketBeat Ratings reports. Three research analysts have rated the stock with a sell recommendation, ten have issued a hold recommendation and eight have assigned a buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $6.85.

A number of equities analysts have commented on FIT shares. Zacks Investment Research upgraded 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. Stifel Nicolaus cut Fitbit from a “hold” rating to a “sell” rating and set a $6.00 price target on the stock. in a report on Friday, December 15th. Roth Capital assumed coverage on Fitbit in a report on Friday, January 5th. They set a “buy” rating and a $10.00 price target on the stock. Vetr raised Fitbit from a “hold” rating to a “buy” rating and set a $6.67 price target on the stock in a report on Thursday, October 19th. Finally, Morgan Stanley lifted their price target on Fitbit from $6.50 to $7.00 and gave the company an “equal weight” rating in a report on Friday, October 20th.

Shares of Fitbit (FIT) traded up $0.53 during mid-day trading on Wednesday, reaching $5.64. The company’s stock had a trading volume of 7,060,000 shares, compared to its average volume of 5,640,000. Fitbit has a 12 month low of $4.90 and a 12 month high of $7.32. The firm has a market capitalization of $1,330.00 and a P/E ratio of -3.42.

In related news, EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $5.17, for a total transaction of $25,850.00. Following the sale, the executive vice president now owns 125,127 shares of the company’s stock, valued at $646,906.59. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Jon Callaghan sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $6.81, for a total value of $102,150.00. The disclosure for this sale can be found here. In the last three months, insiders have sold 60,000 shares of company stock worth $357,750. 29.10% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in FIT. Investors Research Corp bought a new stake in Fitbit during the fourth quarter worth approximately $101,000. Principal Financial Group Inc. bought a new stake in Fitbit during the second quarter worth approximately $114,000. BB&T Securities LLC bought a new stake in Fitbit during the third quarter worth approximately $116,000. Amalgamated Bank raised its holdings in Fitbit by 20.1% during the second 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. Finally, Greenwich Wealth Management LLC raised its holdings in Fitbit by 84.1% during the fourth quarter. Greenwich Wealth Management LLC now owns 23,425 shares of the scientific and technical instruments company’s stock worth $134,000 after purchasing an additional 10,700 shares in the last quarter. 60.43% of the stock is currently owned by hedge funds and other institutional investors.

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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.

Analyst Recommendations for Fitbit (NYSE:FIT)

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