Oppenheimer & Co. Inc. Has $214,000 Position in Fitbit Inc (FIT)

Oppenheimer & Co. Inc. decreased its holdings in Fitbit Inc (NYSE:FIT) by 23.4% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,698 shares of the scientific and technical instruments company’s stock after selling 9,365 shares during the quarter. Oppenheimer & Co. Inc.’s holdings in Fitbit were worth $214,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. BNP Paribas Arbitrage SA grew its stake in shares of Fitbit by 15.6% in the second quarter. BNP Paribas Arbitrage SA now owns 446,630 shares of the scientific and technical instruments company’s stock worth $2,372,000 after purchasing an additional 60,346 shares during the last quarter. Alliancebernstein L.P. grew its stake in shares of Fitbit by 360.5% in the second quarter. Alliancebernstein L.P. now owns 211,700 shares of the scientific and technical instruments company’s stock worth $1,124,000 after purchasing an additional 165,733 shares during the last quarter. SG Americas Securities LLC bought a new stake in shares of Fitbit in the second quarter worth $1,723,000. California State Teachers Retirement System grew its stake in shares of Fitbit by 23.1% in the second quarter. California State Teachers Retirement System now owns 309,530 shares of the scientific and technical instruments company’s stock worth $1,644,000 after purchasing an additional 57,987 shares during the last quarter. Finally, Tocqueville Asset Management L.P. bought a new stake in shares of Fitbit in the third quarter worth $452,000. 58.36% of the stock is currently owned by institutional investors.

Several analysts recently weighed in on the stock. Vetr cut shares of Fitbit from a “hold” rating to a “sell” rating and set a $6.67 price objective on the stock. in a research note on Thursday, September 28th. Zacks Investment Research cut shares of Fitbit from a “buy” rating to a “hold” rating in a research note on Wednesday, September 13th. Stifel Nicolaus reissued a “hold” rating and issued a $6.00 price objective on shares of Fitbit in a research note on Thursday, September 14th. Dougherty & Co reissued a “neutral” rating on shares of Fitbit in a research note on Wednesday, September 27th. Finally, Deutsche Bank reissued a “hold” rating and issued a $5.50 price objective on shares of Fitbit in a research note on Wednesday, August 9th. Four research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus price target of $7.11.

Shares of Fitbit Inc (FIT) opened at $6.69 on Tuesday. Fitbit Inc has a 1 year low of $4.90 and a 1 year high of $8.40.

Fitbit (NYSE:FIT) last issued its quarterly earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.04) by $0.03. The business 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 business’s quarterly revenue was down 22.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.19 earnings per share. equities analysts forecast that Fitbit Inc will post -0.49 earnings per share for the current year.

In other news, EVP Andy Missan sold 25,000 shares of the stock in a transaction dated Wednesday, September 27th. The shares were sold at an average price of $7.00, for a total transaction of $175,000.00. Following the transaction, the executive vice president now owns 110,133 shares of the company’s stock, valued at approximately $770,931. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Steven Joseph Murray sold 966,641 shares of the stock in a transaction dated 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 transaction, the director now directly owns 11,442 shares in the company, valued at approximately $69,681.78. The disclosure for this sale can be found here. Insiders have sold a total of 1,046,841 shares of company stock worth $6,428,804 in the last three months. Insiders own 29.10% of the company’s stock.

COPYRIGHT VIOLATION NOTICE: “Oppenheimer & Co. Inc. Has $214,000 Position in Fitbit Inc (FIT)” was originally published by Community Financial News and is the sole property of of Community Financial News. If you are reading this news story on another publication, it was copied illegally and republished in violation of international trademark & copyright legislation. The legal version of this news story can be viewed at https://www.com-unik.info/2017/12/05/oppenheimer-co-inc-has-214000-position-in-fitbit-inc-fit.html.

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.

Want to see what other hedge funds are holding FIT? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fitbit Inc (NYSE:FIT).

Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

What are top analysts saying about Fitbit Inc? - Enter your email address in the form below to receive our free daily email newsletter that contains the latest headlines and analysts' recommendations for for Fitbit Inc and related companies.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit