Craig Hallum started coverage on shares of Fitbit (NYSE:FIT) in a report published on Monday. The brokerage issued a buy rating on the scientific and technical instruments company’s stock.

A number of other brokerages also recently commented on FIT. ValuEngine downgraded shares of Fitbit from a hold rating to a sell rating in a report on Friday, December 15th. Stifel Nicolaus lowered shares of Fitbit from a hold rating to a sell rating and set a $6.00 price objective on the stock. in a research report on Friday, December 15th. Roth Capital initiated coverage on shares of Fitbit in a research report on Friday, January 5th. They issued a buy rating and a $10.00 price objective on the stock. Cleveland Research reissued a hold rating on shares of Fitbit in a research report on Thursday, December 21st. Finally, Bank of America reissued an underperform rating on shares of Fitbit in a research report on Tuesday, February 27th. Five research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have assigned a buy rating to the stock. The stock presently has a consensus rating of Hold and an average target price of $6.85.

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Fitbit stock opened at $5.11 on Monday. Fitbit has a 1-year low of $4.67 and a 1-year high of $7.32.

In other news, Director Jon Callaghan sold 15,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 1st. The shares were sold at an average price of $4.76, for a total transaction of $71,400.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andy Missan sold 5,000 shares of the firm’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 transaction, the executive vice president now directly owns 125,127 shares in the company, valued at $646,906.59. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,000 shares of company stock worth $316,750. Corporate insiders own 29.10% of the company’s stock.

Large investors have recently modified their holdings of the company. BB&T Securities LLC purchased a new position in shares of Fitbit during the third quarter worth approximately $116,000. Investors Research Corp purchased a new position in shares of Fitbit during the fourth quarter worth approximately $101,000. Greenwich Wealth Management LLC increased its position in shares of 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 acquiring an additional 10,700 shares during the period. Stone Ridge Asset Management LLC purchased a new position in shares of Fitbit during the fourth quarter worth approximately $139,000. Finally, Ingalls & Snyder LLC purchased a new position in shares of Fitbit during the fourth quarter worth approximately $140,000. 61.48% of the stock is currently owned by institutional investors and hedge funds.

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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.

Analyst Recommendations for Fitbit (NYSE:FIT)

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