Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 7,500 shares of Fitbit stock in a transaction on Monday, March 11th. The stock was sold at an average price of $5.84, for a total value of $43,800.00. Following the sale, the executive vice president now directly owns 91,640 shares of the company’s stock, valued at $535,177.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Monday, February 11th, Andy Missan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $6.62, for a total value of $99,300.00.
  • On Thursday, January 10th, Andy Missan sold 7,500 shares of Fitbit stock. The shares were sold at an average price of $5.66, for a total value of $42,450.00.
  • On Tuesday, December 18th, Andy Missan sold 110,000 shares of Fitbit stock. The shares were sold at an average price of $5.00, for a total value of $550,000.00.

Shares of FIT stock traded down $0.04 on Thursday, hitting $5.88. 131,210 shares of the stock were exchanged, compared to its average volume of 7,030,002. The stock has a market capitalization of $1.28 billion, a P/E ratio of -9.76 and a beta of 1.70. Fitbit Inc has a fifty-two week low of $4.23 and a fifty-two week high of $7.79.

Fitbit (NYSE:FIT) last posted its quarterly earnings data on Wednesday, February 27th. The scientific and technical instruments company reported $0.14 earnings per share for the quarter, topping the consensus estimate of $0.08 by $0.06. The company had revenue of $571.20 million during the quarter, compared to analysts’ expectations of $569.30 million. Fitbit had a negative return on equity of 19.03% and a negative net margin of 12.29%. Fitbit’s revenue for the quarter was up .1% compared to the same quarter last year. During the same period in the prior year, the firm earned ($0.02) earnings per share. As a group, sell-side analysts anticipate that Fitbit Inc will post -0.43 earnings per share for the current fiscal year.

FIT has been the subject of a number of research analyst reports. Zacks Investment Research raised Fitbit from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Friday, January 25th. ValuEngine raised Fitbit from a “buy” rating to a “strong-buy” rating in a research note on Tuesday, January 15th. Wedbush cut Fitbit from an “outperform” rating to a “neutral” rating and set a $6.50 target price for the company. in a research note on Friday, February 22nd. DA Davidson raised Fitbit from a “neutral” rating to a “buy” rating and boosted their target price for the company from $5.50 to $7.00 in a research note on Thursday, February 28th. Finally, William Blair reissued a “market perform” rating on shares of Fitbit in a research note on Monday. Two research analysts have rated the stock with a sell rating, five have given a hold rating and six have given a buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $6.28.

Several hedge funds have recently bought and sold shares of FIT. JPMorgan Chase & Co. raised its holdings in Fitbit by 736.9% during 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. Virtu Financial LLC acquired a new stake in Fitbit during the fourth quarter worth approximately $121,000. Vanguard Group Inc. grew its position in Fitbit by 12.6% during the third quarter. Vanguard Group Inc. now owns 19,805,756 shares of the scientific and technical instruments company’s stock worth $105,961,000 after buying an additional 2,211,848 shares in the last quarter. BlackRock Inc. grew its position in Fitbit by 3.8% during the third quarter. BlackRock Inc. now owns 15,724,223 shares of the scientific and technical instruments company’s stock worth $84,127,000 after buying an additional 582,169 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its position in Fitbit by 46.5% during 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 buying an additional 5,854 shares in the last quarter. 64.31% of the stock is owned by institutional investors.

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About Fitbit

Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic 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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