Ameriprise Financial Inc. Has $1.30 Million Stake in Fitbit Inc (FIT)
Ameriprise Financial Inc. lifted its stake in Fitbit Inc (NYSE:FIT) by 421.2% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 186,793 shares of the scientific and technical instruments company’s stock after acquiring an additional 150,956 shares during the quarter. Ameriprise Financial Inc.’s holdings in Fitbit were worth $1,300,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. raised its stake in Fitbit by 360.5% during the second quarter. Alliancebernstein L.P. now owns 211,700 shares of the scientific and technical instruments company’s stock valued at $1,124,000 after buying an additional 165,733 shares in the last quarter. California State Teachers Retirement System raised its position in shares of Fitbit by 23.1% during the 2nd quarter. California State Teachers Retirement System now owns 309,530 shares of the scientific and technical instruments company’s stock worth $1,644,000 after purchasing an additional 57,987 shares during the period. Prudential Financial Inc. raised its position in shares of Fitbit by 253.9% during the 3rd quarter. Prudential Financial Inc. now owns 52,023 shares of the scientific and technical instruments company’s stock worth $362,000 after purchasing an additional 37,323 shares during the period. Dimensional Fund Advisors LP raised its position in shares of Fitbit by 53.1% during the 2nd quarter. Dimensional Fund Advisors LP now owns 990,273 shares of the scientific and technical instruments company’s stock worth $5,258,000 after purchasing an additional 343,401 shares during the period. Finally, Tocqueville Asset Management L.P. bought a new position in Fitbit in the 3rd quarter worth approximately $452,000. 58.25% of the stock is owned by institutional investors.
A number of equities analysts recently issued reports on FIT shares. Zacks Investment Research lowered Fitbit from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Stifel Nicolaus lowered Fitbit from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a report on Friday, December 15th. Dougherty & Co reissued a “neutral” rating on shares of Fitbit in a report on Wednesday, October 4th. Vetr raised Fitbit from a “hold” rating to a “buy” rating and set a $6.67 price objective for the company in a report on Thursday, October 19th. Finally, Morgan Stanley increased their price objective on Fitbit from $6.50 to $7.00 and gave the stock an “equal weight” rating in a report on Friday, October 20th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The company has an average rating of “Hold” and an average price target of $7.05.
Fitbit Inc (NYSE:FIT) opened at $5.59 on Thursday. The company has a market cap of $1,320.00 and a price-to-earnings ratio of -3.39. Fitbit Inc has a 1 year low of $4.90 and a 1 year high of $7.62.
Fitbit (NYSE:FIT) last posted its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The firm had revenue of $392.50 million for the quarter, compared to the consensus estimate of $391.70 million. Fitbit had a negative net margin of 23.35% and a negative return on equity of 28.33%. The business’s quarterly revenue was down 22.1% on a year-over-year basis. During the same period in the prior year, the business posted $0.19 earnings per share. equities research analysts anticipate that Fitbit Inc will post -0.49 EPS for the current fiscal year.
In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the firm’s 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, EVP Andy Missan sold 5,000 shares of the firm’s stock in a transaction dated Wednesday, November 1st. The stock was sold at an average price of $6.29, for a total transaction of $31,450.00. Following the transaction, the executive vice president now owns 109,475 shares of the company’s stock, valued at approximately $688,597.75. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,026,841 shares of company stock worth $6,268,204. 29.10% of the stock is currently owned by company insiders.
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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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