Schwab Charles Investment Management Inc. grew its holdings in shares of Fitbit Inc (NYSE:FIT) by 11.8% in the 3rd quarter, HoldingsChannel.com reports. The institutional investor owned 771,624 shares of the scientific and technical instruments company’s stock after purchasing an additional 81,345 shares during the period. Schwab Charles Investment Management Inc.’s holdings in Fitbit were worth $5,371,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in FIT. HighTower Advisors LLC boosted its stake in shares of Fitbit by 5.6% in the second quarter. HighTower Advisors LLC now owns 32,831 shares of the scientific and technical instruments company’s stock valued at $174,000 after purchasing an additional 1,735 shares during the period. Amalgamated Bank boosted its stake in shares of Fitbit by 20.1% in the second quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company’s stock valued at $117,000 after purchasing an additional 3,698 shares during the period. Oppenheimer & Co. Inc. boosted its stake in shares of Fitbit by 11.6% in the second quarter. Oppenheimer & Co. Inc. now owns 40,063 shares of the scientific and technical instruments company’s stock valued at $213,000 after purchasing an additional 4,150 shares during the period. American International Group Inc. boosted its stake in shares of Fitbit by 8.1% in the third quarter. American International Group Inc. now owns 117,140 shares of the scientific and technical instruments company’s stock valued at $815,000 after purchasing an additional 8,758 shares during the period. Finally, Ameriprise Financial Inc. boosted its stake in shares of Fitbit by 35.9% in the second quarter. Ameriprise Financial Inc. now owns 35,837 shares of the scientific and technical instruments company’s stock valued at $186,000 after purchasing an additional 9,461 shares during the period. Institutional investors own 58.25% of the company’s stock.

FIT has been the subject of several analyst reports. Zacks Investment Research upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $7.00 target price for the company in a research note on Tuesday, September 12th. Vetr downgraded shares of Fitbit from a “buy” rating to a “hold” rating and set a $6.72 target price for the company. in a research note on Wednesday, September 13th. Stifel Nicolaus restated a “hold” rating and issued a $6.00 target price on shares of Fitbit in a research note on Thursday, September 14th. ValuEngine upgraded shares of Fitbit from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. Finally, Dougherty & Co restated a “neutral” rating on shares of Fitbit in a research note on Wednesday, September 27th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus target price of $7.05.

In other Fitbit news, EVP Andy Missan sold 5,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $6.29, for a total transaction of $31,450.00. Following the sale, the executive vice president now directly owns 109,475 shares of the company’s stock, valued at $688,597.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Joseph Murray sold 966,641 shares of the stock in a transaction on Wednesday, November 15th. The stock was sold at an average price of $6.09, for a total transaction of $5,886,843.69. Following the sale, the director now directly owns 11,442 shares in the company, valued at $69,681.78. The disclosure for this sale can be found here. Insiders sold 1,026,841 shares of company stock worth $6,268,204 over the last ninety days. 29.10% of the stock is currently owned by corporate insiders.

Shares of Fitbit Inc (FIT) opened at $5.65 on Tuesday. The stock has a market cap of $1,340.00 and a price-to-earnings ratio of -3.42. Fitbit Inc has a twelve month low of $4.90 and a twelve month high of $8.04.

Fitbit (NYSE:FIT) last posted its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. The firm had revenue of $392.50 million for the quarter, compared to analysts’ expectations of $391.70 million. Fitbit had a negative net margin of 23.35% and a negative return on equity of 28.33%. The firm’s quarterly revenue was down 22.1% on a year-over-year basis. During the same period in the prior year, the company posted $0.19 earnings per share. research analysts predict that Fitbit Inc will post -0.49 EPS for the current fiscal year.

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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.

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Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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