Fitbit, Inc. (FIT) EVP Sells $31,450.00 in Stock

Fitbit, Inc. (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the stock in a transaction dated Wednesday, November 1st. The shares were sold at an average price of $6.29, for a total value of $31,450.00. Following the sale, the executive vice president now owns 109,475 shares of the company’s stock, valued at $688,597.75. The sale was disclosed in a filing with the SEC, which is available through the SEC website.

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

  • On Monday, October 2nd, Andy Missan sold 5,000 shares of Fitbit stock. The shares were sold at an average price of $6.89, for a total value of $34,450.00.
  • On Wednesday, September 27th, Andy Missan sold 25,000 shares of Fitbit stock. The shares were sold at an average price of $7.00, for a total value of $175,000.00.
  • On Friday, September 1st, Andy Missan sold 5,000 shares of Fitbit stock. The shares were sold at an average price of $5.91, for a total value of $29,550.00.

Fitbit, Inc. (FIT) traded down $0.23 during trading on Friday, hitting $6.02. The company’s stock had a trading volume of 4,344,068 shares, compared to its average volume of 5,181,834.

Fitbit (NYSE:FIT) last posted its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The business had revenue of $392.50 million during the quarter, compared to analyst estimates of $391.70 million. Fitbit had a negative return on equity of 27.36% and a negative net margin of 23.35%. The company’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same quarter last year, the company earned $0.19 EPS. equities analysts anticipate that Fitbit, Inc. will post -0.52 earnings per share for the current year.

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Several brokerages recently weighed in on FIT. Vetr cut Fitbit from a “hold” rating to a “sell” rating and set a $6.67 target price for the company. in a report on Thursday, September 28th. ValuEngine upgraded Fitbit from a “strong sell” rating to a “sell” rating in a report on Friday, September 15th. Dougherty & Co restated a “neutral” rating on shares of Fitbit in a report on Wednesday, October 4th. Oppenheimer Holdings, Inc. restated an “outperform” rating and set a $8.00 target price on shares of Fitbit in a report on Wednesday, October 4th. Finally, Stifel Nicolaus restated a “hold” rating and set a $6.00 target price on shares of Fitbit in a report on Thursday, September 14th. Five analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and eight have assigned a buy rating to the company. Fitbit presently has a consensus rating of “Hold” and a consensus price target of $7.45.

Hedge funds have recently added to or reduced their stakes in the company. BNP Paribas Arbitrage SA boosted its stake in shares of Fitbit by 15.6% in the 2nd quarter. BNP Paribas Arbitrage SA now owns 446,630 shares of the scientific and technical instruments company’s stock worth $2,372,000 after buying an additional 60,346 shares during the last quarter. Alliancebernstein L.P. boosted its stake in shares of Fitbit by 360.5% in the 2nd quarter. Alliancebernstein L.P. now owns 211,700 shares of the scientific and technical instruments company’s stock worth $1,124,000 after buying an additional 165,733 shares during the last quarter. SG Americas Securities LLC purchased a new position in shares of Fitbit in the 2nd quarter worth $1,723,000. Artemis Investment Management LLP boosted its stake in shares of Fitbit by 40.2% in the 2nd quarter. Artemis Investment Management LLP now owns 2,535,000 shares of the scientific and technical instruments company’s stock worth $13,447,000 after buying an additional 727,000 shares during the last quarter. Finally, Vanguard Group Inc. boosted its stake in shares of Fitbit by 13.9% in the 2nd quarter. Vanguard Group Inc. now owns 12,808,192 shares of the scientific and technical instruments company’s stock worth $68,012,000 after buying an additional 1,567,672 shares during the last quarter. Hedge funds and other institutional investors own 55.20% of the company’s stock.

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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