California State Teachers Retirement System lifted its position in Fitbit, Inc. (NYSE:FIT) by 23.1% during the 2nd quarter, according to the company in its most recent filing with the SEC. The fund owned 309,530 shares of the scientific and technical instruments company’s stock after purchasing an additional 57,987 shares during the quarter. California State Teachers Retirement System owned 0.13% of Fitbit worth $1,644,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA grew its holdings in shares of Fitbit by 15.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 446,630 shares of the scientific and technical instruments company’s stock worth $2,372,000 after purchasing an additional 60,346 shares during the last quarter. Alliancebernstein L.P. grew its holdings in shares of Fitbit by 360.5% in the 2nd quarter. Alliancebernstein L.P. now owns 211,700 shares of the scientific and technical instruments company’s stock worth $1,124,000 after purchasing an additional 165,733 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Fitbit in the 2nd quarter worth about $1,723,000. Vanguard Group Inc. lifted its position in Fitbit by 13.9% during the 2nd quarter. Vanguard Group Inc. now owns 12,808,192 shares of the scientific and technical instruments company’s stock worth $68,012,000 after buying an additional 1,567,672 shares in the last quarter. Finally, Artemis Investment Management LLP lifted its position in Fitbit by 40.2% during the 2nd quarter. Artemis Investment Management LLP now owns 2,535,000 shares of the scientific and technical instruments company’s stock worth $13,447,000 after buying an additional 727,000 shares in the last quarter. 52.76% of the stock is currently owned by institutional investors and hedge funds.

Shares of Fitbit, Inc. (NYSE FIT) opened at $6.23 on Friday. Fitbit, Inc. has a 52 week low of $4.90 and a 52 week high of $9.05.

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 expect that Fitbit, Inc. will post -0.49 EPS for the current fiscal year.

Several research analysts recently issued reports on FIT shares. Morgan Stanley reduced their price target on shares of Fitbit from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research report on Monday, July 31st. Zacks Investment Research upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research report on Monday, October 30th. Vetr upgraded shares of Fitbit from a “buy” rating to a “strong-buy” rating and set a $6.17 price target on the stock in a research report on Tuesday, August 22nd. Finally, BidaskClub downgraded shares of Fitbit from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the stock. Fitbit presently has a consensus rating of “Hold” and an average target price of $7.15.

In other news, Director Steven Joseph Murray sold 966,641 shares of the company’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $6.09, for a total value of $5,886,843.69. Following the completion of the sale, the director now directly owns 11,442 shares of the company’s stock, valued at approximately $69,681.78. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andy Missan sold 5,000 shares of the company’s stock in a transaction dated Friday, September 1st. The shares were sold at an average price of $5.91, for a total value of $29,550.00. Following the completion of the sale, the executive vice president now directly owns 71,419 shares of the company’s stock, valued at $422,086.29. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 1,051,841 shares of company stock valued at $6,444,704. 29.10% of the stock is currently owned by company insiders.

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Fitbit 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.

Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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