Fitbit Inc (FIT) Position Raised by Brown Advisory Inc.

Brown Advisory Inc. boosted its stake in Fitbit Inc (NYSE:FIT) by 1.8% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,698 shares of the scientific and technical instruments company’s stock after purchasing an additional 13,270 shares during the quarter. Brown Advisory Inc. owned about 0.37% of Fitbit worth $5,357,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Legal & General Group Plc grew its position in Fitbit by 140.9% during the first quarter. Legal & General Group Plc now owns 47,109 shares of the scientific and technical instruments company’s stock valued at $279,000 after acquiring an additional 27,557 shares during the last quarter. Geode Capital Management LLC grew its position in Fitbit by 3.2% during the first quarter. Geode Capital Management LLC now owns 978,462 shares of the scientific and technical instruments company’s stock valued at $5,792,000 after acquiring an additional 30,503 shares during the last quarter. Dimensional Fund Advisors LP grew its position in Fitbit by 39.5% during the first quarter. Dimensional Fund Advisors LP now owns 646,872 shares of the scientific and technical instruments company’s stock valued at $3,829,000 after acquiring an additional 183,025 shares during the last quarter. Schwab Charles Investment Management Inc. grew its position in Fitbit by 35.6% during the first quarter. Schwab Charles Investment Management Inc. now owns 382,085 shares of the scientific and technical instruments company’s stock valued at $2,262,000 after acquiring an additional 100,406 shares during the last quarter. Finally, Russell Investments Group Ltd. grew its position in Fitbit by 10.4% during the second quarter. Russell Investments Group Ltd. now owns 115,441 shares of the scientific and technical instruments company’s stock valued at $614,000 after acquiring an additional 10,840 shares during the last quarter. 58.36% of the stock is currently owned by institutional investors and hedge funds.

A number of brokerages have commented on FIT. Vetr cut shares of Fitbit from a “strong-buy” rating to a “hold” rating and set a $6.72 price target on the stock. in a research report on Thursday, September 7th. Zacks Investment Research upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.50 price target on the stock in a research report on Tuesday, August 8th. Deutsche Bank reiterated a “hold” rating and set a $5.50 price target on shares of Fitbit in a research report on Wednesday, August 9th. Finally, Dougherty & Co reiterated a “neutral” rating on shares of Fitbit in a research report on Wednesday, September 27th. Four equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have issued a buy rating to the company. The stock presently has a consensus rating of “Hold” and an average target price of $7.11.

In related news, Director Steven Joseph Murray sold 966,641 shares of Fitbit stock in a transaction on Wednesday, November 15th. The shares were sold at an average price of $6.09, for a total value of $5,886,843.69. Following the sale, the director now owns 11,442 shares in the company, valued at $69,681.78. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, EVP Andy Missan sold 25,000 shares of Fitbit stock in a transaction on Wednesday, September 27th. The shares were sold at an average price of $7.00, for a total transaction of $175,000.00. Following the completion of the sale, the executive vice president now owns 110,133 shares in the company, valued at approximately $770,931. The disclosure for this sale can be found here. Insiders sold 1,051,841 shares of company stock worth $6,462,854 in the last 90 days. Company insiders own 29.10% of the company’s stock.

Shares of Fitbit Inc (NYSE:FIT) traded down $0.03 during trading on Wednesday, hitting $6.66. 3,763,800 shares of the stock traded hands, compared to its average volume of 7,625,067. Fitbit Inc has a 1 year low of $4.90 and a 1 year high of $8.40.

Fitbit (NYSE:FIT) last issued its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.04) by $0.03. Fitbit had a negative net margin of 23.35% and a negative return on equity of 28.33%. The firm had revenue of $392.50 million for the quarter, compared to analysts’ expectations of $391.70 million. During the same quarter last year, the business earned $0.19 earnings per share. The business’s revenue was down 22.1% on a year-over-year basis. research analysts forecast that Fitbit Inc will post -0.49 EPS for the current fiscal year.

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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.

Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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