Andy Missan Sells 5,000 Shares of Fitbit Inc (NYSE:FIT) Stock

Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the stock in a transaction on Monday, June 10th. The shares were sold at an average price of $4.49, for a total value of $22,450.00. Following the completion of the sale, the executive vice president now owns 114,414 shares of the company’s stock, valued at approximately $513,718.86. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Thursday, May 16th, Andy Missan sold 2,594 shares of Fitbit stock. The stock was sold at an average price of $5.02, for a total value of $13,021.88.
  • On Friday, May 10th, Andy Missan sold 7,500 shares of Fitbit stock. The stock was sold at an average price of $4.99, for a total transaction of $37,425.00.
  • On Wednesday, April 10th, Andy Missan sold 7,500 shares of Fitbit stock. The shares were sold at an average price of $5.85, for a total value of $43,875.00.

FIT stock traded down $0.02 during midday trading on Wednesday, reaching $4.52. 2,891,948 shares of the company’s stock traded hands, compared to its average volume of 4,911,620. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.87 and a quick ratio of 1.57. Fitbit Inc has a 52 week low of $4.23 and a 52 week high of $7.70. The stock has a market capitalization of $1.01 billion, a price-to-earnings ratio of -7.53 and a beta of 1.59.

Fitbit (NYSE:FIT) last issued its earnings results on Wednesday, May 1st. The scientific and technical instruments company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.22) by $0.07. Fitbit had a negative net margin of 12.01% and a negative return on equity of 18.79%. The business had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $259.71 million. During the same quarter in the previous year, the firm posted ($0.17) EPS. The business’s revenue for the quarter was up 9.7% compared to the same quarter last year. Equities research analysts anticipate that Fitbit Inc will post -0.42 EPS for the current year.

A number of research analysts have commented on the stock. Wedbush cut shares of Fitbit from an “outperform” rating to a “neutral” rating and set a $6.50 price target for the company. in a research note on Friday, February 22nd. DA Davidson raised shares of Fitbit from a “neutral” rating to a “buy” rating and boosted their price target for the company from $5.50 to $7.00 in a report on Thursday, February 28th. Zacks Investment Research raised shares of Fitbit from a “hold” rating to a “buy” rating and set a $5.75 price target on the stock in a research report on Wednesday, May 8th. William Blair restated a “market perform” rating on shares of Fitbit in a research report on Monday, March 11th. Finally, ValuEngine cut shares of Fitbit from a “strong-buy” rating to a “buy” rating in a research report on Tuesday, March 5th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus target price of $6.08.

Several institutional investors and hedge funds have recently added to or reduced their stakes in FIT. JPMorgan Chase & Co. grew its position in Fitbit by 736.9% in the third quarter. JPMorgan Chase & Co. now owns 1,679,607 shares of the scientific and technical instruments company’s stock worth $8,986,000 after acquiring an additional 1,478,907 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its stake in Fitbit by 46.5% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,443 shares of the scientific and technical instruments company’s stock worth $92,000 after purchasing an additional 5,854 shares during the last quarter. Xact Kapitalforvaltning AB lifted its stake in Fitbit by 77.7% in the fourth quarter. Xact Kapitalforvaltning AB now owns 58,078 shares of the scientific and technical instruments company’s stock worth $289,000 after purchasing an additional 25,400 shares during the last quarter. Rhumbline Advisers lifted its stake in Fitbit by 45.7% in the fourth quarter. Rhumbline Advisers now owns 304,011 shares of the scientific and technical instruments company’s stock worth $1,511,000 after purchasing an additional 95,284 shares during the last quarter. Finally, Stevens Capital Management LP bought a new stake in Fitbit in the fourth quarter worth $55,000. Hedge funds and other institutional investors own 66.85% of the company’s stock.

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Fitbit Company Profile

Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Charge 3, Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Ace, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic and Fitbit Versa smartwatches; Fitbit Aria 2 Wi-Fi smart scales; and a range of accessories, such as bands and frames for its devices, as well as Fitbit Flyer, a wireless headphone designed for fitness.

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