Vetr lowered shares of Fitbit, Inc. (NYSE:FIT) from a strong-buy rating to a buy rating in a research note published on Monday. Vetr currently has $5.84 target price on the scientific and technical instruments company’s stock.
Several other analysts have also commented on the company. SunTrust Banks, Inc. reaffirmed a buy rating and issued a $7.00 price target on shares of Fitbit in a research note on Friday, April 14th. Zacks Investment Research raised Fitbit from a hold rating to a buy rating and set a $7.00 price target on the stock in a research note on Monday, May 8th. Dougherty & Co reaffirmed a neutral rating on shares of Fitbit in a research note on Monday, May 8th. Raymond James Financial, Inc. reaffirmed an outperform rating and issued a $9.00 price target on shares of Fitbit in a research note on Monday, May 8th. Finally, ValuEngine raised Fitbit from a strong sell rating to a sell rating in a research note on Friday, June 2nd. Five research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the company’s stock. Fitbit currently has a consensus rating of Hold and an average price target of $8.30.
Shares of Fitbit (NYSE FIT) traded down 1.29% during trading on Monday, reaching $5.37. The company had a trading volume of 4,334,974 shares. The stock has a 50 day moving average price of $5.54 and a 200 day moving average price of $6.21. The firm’s market capitalization is $1.23 billion. Fitbit has a 12 month low of $4.99 and a 12 month high of $17.18. Fitbit also was the target of some unusual options trading on Monday. Stock traders purchased 7,820 call options on the company. This represents an increase of 256% compared to the average volume of 2,199 call options.
Fitbit (NYSE:FIT) last released its quarterly earnings data on Wednesday, May 3rd. The scientific and technical instruments company reported ($0.15) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.10. The business had revenue of $298.94 million for the quarter, compared to analysts’ expectations of $277.48 million. Fitbit had a negative return on equity of 14.57% and a negative net margin of 8.86%. On average, equities research analysts forecast that Fitbit will post ($0.35) EPS for the current year.
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In other news, EVP Andy Missan sold 10,000 shares of the company’s stock in a transaction on Thursday, June 1st. The stock was sold at an average price of $5.57, for a total transaction of $55,700.00. Following the transaction, the executive vice president now owns 62,702 shares of the company’s stock, valued at $349,250.14. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Steven Joseph Murray sold 500,000 shares of the company’s stock in a transaction on Friday, May 26th. The shares were sold at an average price of $5.33, for a total value of $2,665,000.00. Following the transaction, the director now directly owns 11,442 shares in the company, valued at approximately $60,985.86. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company’s stock.
Several institutional investors have recently modified their holdings of the stock. Guggenheim Capital LLC raised its position in shares of Fitbit by 6.7% in the fourth quarter. Guggenheim Capital LLC now owns 36,211 shares of the scientific and technical instruments company’s stock valued at $266,000 after buying an additional 2,264 shares during the period. Raymond James Financial Services Advisors Inc. raised its position in shares of Fitbit by 14.5% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 33,666 shares of the scientific and technical instruments company’s stock valued at $199,000 after buying an additional 4,271 shares during the period. UBS Asset Management Americas Inc. raised its position in shares of Fitbit by 5.8% in the first quarter. UBS Asset Management Americas Inc. now owns 86,177 shares of the scientific and technical instruments company’s stock valued at $510,000 after buying an additional 4,732 shares during the period. Oppenheimer & Co. Inc. raised its position in shares of Fitbit by 18.3% in the first quarter. Oppenheimer & Co. Inc. now owns 35,913 shares of the scientific and technical instruments company’s stock valued at $213,000 after buying an additional 5,550 shares during the period. Finally, Intellectus Partners LLC raised its position in shares of Fitbit by 6.2% in the first quarter. Intellectus Partners LLC now owns 155,096 shares of the scientific and technical instruments company’s stock valued at $918,000 after buying an additional 9,100 shares during the period. 52.65% of the stock is currently owned by institutional investors and hedge funds.
Fitbit Company 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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