Andy Missan Sells 5,000 Shares of Fitbit, Inc. (NYSE:FIT) Stock

Fitbit, Inc. (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction on Friday, August 4th. The shares were sold at an average price of $5.68, for a total transaction of $28,400.00. Following the transaction, the executive vice president now owns 80,332 shares in the company, valued at $456,285.76. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link.

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

  • On Thursday, June 1st, Andy Missan sold 10,000 shares of Fitbit stock. The stock was sold at an average price of $5.57, for a total transaction of $55,700.00.

Fitbit, Inc. (NYSE:FIT) opened at 5.23 on Friday. The firm’s market cap is $1.22 billion. The company has a 50-day moving average of $5.49 and a 200 day moving average of $5.64. Fitbit, Inc. has a 52-week low of $4.90 and a 52-week high of $17.18.

Fitbit (NYSE:FIT) last announced its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.15) by $0.07. The business had revenue of $353.30 million for the quarter, compared to the consensus estimate of $341.24 million. Fitbit had a negative net margin of 13.79% and a negative return on equity of 20.67%. Fitbit’s quarterly revenue was down 39.8% on a year-over-year basis. During the same period last year, the firm posted $0.12 earnings per share. On average, equities research analysts anticipate that Fitbit, Inc. will post ($0.31) EPS for the current year.

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FIT has been the subject of a number of recent research reports. Benchmark Co. initiated coverage on shares of Fitbit in a report on Tuesday, April 25th. They issued a “buy” rating and a $10.00 price objective for the company. Stifel Nicolaus reiterated a “hold” rating and issued a $7.00 price objective on shares of Fitbit in a report on Thursday, May 4th. Oppenheimer Holdings, Inc. reissued an “outperform” rating and set a $8.00 target price on shares of Fitbit in a research report on Thursday, May 4th. Deutsche Bank AG cut their target price on shares of Fitbit from $6.50 to $6.00 and set a “hold” rating for the company in a research report on Friday, May 5th. Finally, Dougherty & Co reissued a “neutral” rating on shares of Fitbit in a research report on Monday, May 8th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating and eight have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $7.93.

A number of large investors have recently made changes to their positions in the stock. HighTower Advisors LLC increased 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 worth $174,000 after buying an additional 1,735 shares in the last quarter. Guggenheim Capital LLC increased its stake 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 worth $266,000 after buying an additional 2,264 shares in the last quarter. Amalgamated Bank increased 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 worth $117,000 after buying an additional 3,698 shares in the last quarter. Oppenheimer & Co. Inc. increased 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 worth $213,000 after buying an additional 4,150 shares in the last quarter. Finally, Raymond James Financial Services Advisors Inc. increased its position in 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. 55.86% of the stock is currently owned by institutional investors and hedge funds.

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.

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