Greenwich Wealth Management LLC lifted its stake in Fitbit Inc (NYSE:FIT) by 84.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,425 shares of the scientific and technical instruments company’s stock after purchasing an additional 10,700 shares during the quarter. Greenwich Wealth Management LLC’s holdings in Fitbit were worth $134,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Swiss National Bank lifted its position in shares of Fitbit by 8.0% in the fourth quarter. Swiss National Bank now owns 284,300 shares of the scientific and technical instruments company’s stock worth $1,623,000 after purchasing an additional 21,000 shares in the last quarter. Teacher Retirement System of Texas lifted its position in shares of Fitbit by 339.4% in the fourth quarter. Teacher Retirement System of Texas now owns 56,281 shares of the scientific and technical instruments company’s stock worth $321,000 after purchasing an additional 43,472 shares in the last quarter. Engineers Gate Manager LP purchased a new stake in shares of Fitbit in the fourth quarter worth approximately $2,396,000. Chicago Equity Partners LLC purchased a new stake in shares of Fitbit in the fourth quarter worth approximately $672,000. Finally, Commerzbank Aktiengesellschaft FI lifted its position in shares of Fitbit by 32.7% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 471,308 shares of the scientific and technical instruments company’s stock worth $2,691,000 after purchasing an additional 116,034 shares in the last quarter. 60.43% of the stock is owned by institutional investors and hedge funds.

In other news, Director Steven Joseph Murray sold 966,641 shares of Fitbit stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $6.09, for a total value of $5,886,843.69. Following the transaction, the director now owns 11,442 shares of the company’s stock, valued at $69,681.78. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, Director Jon Callaghan sold 15,000 shares of Fitbit stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $6.81, for a total transaction of $102,150.00. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 1,026,641 shares of company stock worth $6,244,594. Insiders own 29.10% of the company’s stock.

FIT has been the subject of a number of research analyst reports. Zacks Investment Research raised shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research report on Monday, October 30th. Stifel Nicolaus lowered shares of Fitbit from a “hold” rating to a “sell” rating and set a $6.00 price target for the company. 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 target for the company. Vetr raised shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.67 price objective on the stock in a research report on Thursday, October 19th. Finally, Morgan Stanley raised their price objective on shares of Fitbit from $6.50 to $7.00 and gave the company an “equal weight” rating in a research report on Friday, October 20th. Three analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.06.

Fitbit Inc (NYSE FIT) opened at $5.18 on Tuesday. The firm has a market cap of $1,056.05, a P/E ratio of -3.14 and a beta of 2.28. Fitbit Inc has a 52-week low of $4.90 and a 52-week high of $7.32.

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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.

Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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