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

Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $5.90, for a total transaction of $29,500.00. Following the sale, the executive vice president now owns 119,981 shares in the company, valued at approximately $707,887.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

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

  • On Friday, December 1st, Andy Missan sold 5,000 shares of Fitbit stock. The shares were sold at an average price of $6.81, for a total transaction of $34,050.00.
  • On Wednesday, November 1st, Andy Missan sold 5,000 shares of Fitbit stock. The shares were sold at an average price of $6.29, for a total transaction of $31,450.00.

Fitbit Inc (NYSE FIT) opened at $5.90 on Friday. Fitbit Inc has a 52 week low of $4.90 and a 52 week high of $8.04.

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 analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $391.70 million. During the same quarter last year, the business posted $0.19 EPS. The company’s revenue was down 22.1% on a year-over-year basis. equities research analysts anticipate that Fitbit Inc will post -0.49 earnings per share for the current fiscal year.

A number of hedge funds have recently added to or reduced their stakes in FIT. Principal Financial Group Inc. purchased a new stake in Fitbit in the 2nd quarter worth approximately $114,000. BB&T Securities LLC purchased a new stake in Fitbit in the 3rd quarter worth approximately $116,000. Amalgamated Bank lifted its position in Fitbit by 20.1% in the 2nd 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. Fortaleza Asset Management Inc. purchased a new stake in Fitbit in the 3rd quarter worth approximately $154,000. Finally, Capital Fund Management S.A. purchased a new stake in Fitbit in the 2nd quarter worth approximately $157,000. Institutional investors own 58.25% of the company’s stock.

Several equities research analysts have commented on the stock. Vetr lowered shares of Fitbit from a “hold” rating to a “sell” rating and set a $6.67 price target on the stock. in a research note on Thursday, September 28th. ValuEngine upgraded shares of Fitbit from a “strong sell” rating to a “sell” rating in a research note on Friday, September 15th. Stifel Nicolaus lowered shares of Fitbit from a “hold” rating to a “sell” rating and set a $6.00 price target on the stock. in a research note on Friday, December 15th. Oppenheimer reiterated an “outperform” rating and issued a $8.00 price objective on shares of Fitbit in a report on Wednesday, October 4th. Finally, Dougherty & Co reiterated a “neutral” rating on shares of Fitbit in a report on Wednesday, October 4th. Five investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. The company currently has an average rating of “Hold” and an average target price of $7.05.

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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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