Private Advisor Group LLC Has $136,000 Stake in Fitbit Inc (FIT)

Private Advisor Group LLC lifted its holdings in shares of Fitbit Inc (NYSE:FIT) by 60.4% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 25,392 shares of the scientific and technical instruments company’s stock after buying an additional 9,562 shares during the period. Private Advisor Group LLC’s holdings in Fitbit were worth $136,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. DNB Asset Management AS raised its holdings in Fitbit by 24.4% during the third quarter. DNB Asset Management AS now owns 21,302,221 shares of the scientific and technical instruments company’s stock worth $113,967,000 after purchasing an additional 4,183,045 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in Fitbit by 166.5% during the second quarter. Dimensional Fund Advisors LP now owns 2,661,187 shares of the scientific and technical instruments company’s stock worth $17,378,000 after purchasing an additional 1,662,496 shares in the last quarter. Canada Pension Plan Investment Board raised its holdings in Fitbit by 378.4% during the second quarter. Canada Pension Plan Investment Board now owns 2,098,810 shares of the scientific and technical instruments company’s stock worth $13,705,000 after purchasing an additional 1,660,100 shares in the last quarter. Renaissance Technologies LLC raised its holdings in Fitbit by 12.6% during the second quarter. Renaissance Technologies LLC now owns 8,156,285 shares of the scientific and technical instruments company’s stock worth $53,261,000 after purchasing an additional 909,585 shares in the last quarter. Finally, SG Americas Securities LLC raised its holdings in Fitbit by 3,789.8% during the second quarter. SG Americas Securities LLC now owns 505,906 shares of the scientific and technical instruments company’s stock worth $3,304,000 after purchasing an additional 492,900 shares in the last quarter. Institutional investors and hedge funds own 63.34% of the company’s stock.

In other Fitbit news, Director Steven Joseph Murray sold 1,000,000 shares of Fitbit stock in a transaction that occurred on Tuesday, November 6th. The shares were sold at an average price of $6.19, for a total transaction of $6,190,000.00. Following the transaction, the director now directly owns 42,332 shares in the company, valued at approximately $262,035.08. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, EVP Andy Missan sold 7,500 shares of Fitbit stock in a transaction that occurred on Wednesday, October 10th. The stock was sold at an average price of $4.76, for a total transaction of $35,700.00. Following the transaction, the executive vice president now owns 176,739 shares in the company, valued at $841,277.64. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 1,025,034 shares of company stock worth $6,327,741. Corporate insiders own 19.84% of the company’s stock.

NYSE FIT opened at $5.54 on Tuesday. The firm has a market capitalization of $1.20 billion, a price-to-earnings ratio of -8.52 and a beta of 1.70. Fitbit Inc has a 1 year low of $4.23 and a 1 year high of $7.79.

Fitbit (NYSE:FIT) last posted its quarterly earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Fitbit had a negative return on equity of 24.69% and a negative net margin of 16.32%. The company had revenue of $393.60 million for the quarter, compared to analysts’ expectations of $381.25 million. During the same quarter in the prior year, the company earned ($0.01) earnings per share. The firm’s revenue was up .3% on a year-over-year basis. On average, equities research analysts forecast that Fitbit Inc will post -0.64 EPS for the current fiscal year.

Several equities research analysts recently commented on the company. William Blair reissued a “market perform” rating on shares of Fitbit in a report on Friday, September 21st. ValuEngine cut Fitbit from a “buy” rating to a “hold” rating in a report on Saturday, September 1st. Morgan Stanley set a $4.00 target price on Fitbit and gave the stock a “sell” rating in a report on Thursday, November 1st. Zacks Investment Research reissued a “buy” rating and set a $6.50 target price on shares of Fitbit in a report on Tuesday, November 13th. Finally, MED raised Fitbit from a “neutral” rating to an “outperform” rating and set a $6.50 target price on the stock in a report on Friday, October 12th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and four have issued a buy rating to the company. The company presently has a consensus rating of “Hold” and a consensus target price of $5.90.

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Fitbit Profile

Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic smartwatches; Fitbit Aria 2 Wi-Fi smart scales; and a range of accessories, such as bands and frames for its devices, as well as Fitbit Flyer, a wireless headphone designed for fitness.

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Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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