Fitbit Inc (FIT) EVP Andy Missan Sells 5,000 Shares

Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $6.81, for a total value of $34,050.00. Following the transaction, the executive vice president now owns 109,475 shares in the company, valued at $745,524.75. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink.

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

  • On Wednesday, November 1st, Andy Missan sold 5,000 shares of Fitbit stock. The stock was sold at an average price of $6.29, for a total value of $31,450.00.
  • On Monday, October 2nd, Andy Missan sold 5,000 shares of Fitbit stock. The stock was 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 stock was sold at an average price of $7.00, for a total value of $175,000.00.

Fitbit Inc (FIT) traded down $0.03 during trading hours on Wednesday, reaching $6.66. The company’s stock had a trading volume of 3,763,800 shares, compared to its average volume of 7,625,067. Fitbit Inc has a 52 week low of $4.90 and a 52 week high of $8.40.

Fitbit (NYSE:FIT) last posted its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. Fitbit had a negative return on equity of 28.33% and a negative net margin of 23.35%. The company had revenue of $392.50 million during the quarter, compared to analyst estimates of $391.70 million. During the same period in the previous year, the business earned $0.19 EPS. Fitbit’s quarterly revenue was down 22.1% on a year-over-year basis. equities analysts anticipate that Fitbit Inc will post -0.49 earnings per share for the current year.

Several analysts have weighed in on the company. Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research note on Tuesday, August 8th. Vetr downgraded Fitbit from a “strong-buy” rating to a “buy” rating and set a $6.19 price target on the stock. in a research note on Thursday, August 24th. Morgan Stanley boosted their price target on Fitbit from $6.50 to $7.00 and gave the company an “equal weight” rating in a research note on Friday, October 20th. Finally, Deutsche Bank reiterated a “hold” rating and set a $5.50 price target on shares of Fitbit in a research note on Wednesday, August 9th. Four investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Fitbit currently has a consensus rating of “Hold” and an average target price of $7.11.

Large investors have recently bought and sold shares of the business. Principal Financial Group Inc. purchased a new stake in shares of Fitbit in the second quarter valued at approximately $114,000. BB&T Securities LLC purchased a new stake in shares of Fitbit in the third quarter valued at approximately $116,000. Amalgamated Bank grew its position 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 in the last quarter. Fortaleza Asset Management Inc. purchased a new stake in shares of Fitbit in the third quarter valued at approximately $154,000. Finally, Capital Fund Management S.A. purchased a new stake in shares of Fitbit in the second quarter valued at approximately $157,000. Institutional investors own 58.36% of the company’s stock.

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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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