Andy Missan Sells 2,534 Shares of Fitbit Inc (FIT) Stock

Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 2,534 shares of the stock in a transaction on Friday, November 16th. The shares were sold at an average price of $5.61, for a total transaction of $14,215.74. Following the transaction, the executive vice president now directly owns 176,395 shares in the company, valued at $989,575.95. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link.

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

  • On Monday, November 12th, Andy Missan sold 7,500 shares of Fitbit stock. The shares were sold at an average price of $5.77, for a total transaction of $43,275.00.
  • On Wednesday, October 10th, Andy Missan sold 7,500 shares of Fitbit stock. The shares were sold at an average price of $4.76, for a total transaction of $35,700.00.
  • On Monday, September 10th, Andy Missan sold 7,500 shares of Fitbit stock. The shares were sold at an average price of $5.94, for a total transaction of $44,550.00.

NYSE:FIT opened at $5.31 on Tuesday. The stock has a market capitalization of $1.22 billion, a PE ratio of -8.17 and a beta of 1.65. Fitbit Inc has a twelve month low of $4.23 and a twelve month 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 for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $393.60 million for the quarter, compared to the consensus estimate of $381.25 million. Fitbit had a negative net margin of 16.32% and a negative return on equity of 24.69%. The company’s revenue for the quarter was up .3% on a year-over-year basis. During the same period last year, the firm posted ($0.01) earnings per share. As a group, research analysts anticipate that Fitbit Inc will post -0.64 EPS for the current year.

Several large investors have recently bought and sold shares of FIT. DNB Asset Management AS lifted its stake in shares of Fitbit by 24.4% in 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 buying an additional 4,183,045 shares in the last quarter. Credit Suisse AG lifted its stake in shares of Fitbit by 90.1% in the third quarter. Credit Suisse AG now owns 5,530,197 shares of the scientific and technical instruments company’s stock worth $29,586,000 after buying an additional 2,621,104 shares in the last quarter. Dimensional Fund Advisors LP increased its position 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 during the last quarter. Canada Pension Plan Investment Board increased its position 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 during the last quarter. Finally, JPMorgan Chase & Co. increased its position in Fitbit by 736.9% during the third quarter. JPMorgan Chase & Co. now owns 1,679,607 shares of the scientific and technical instruments company’s stock worth $8,986,000 after purchasing an additional 1,478,907 shares during the last quarter. 62.21% of the stock is currently owned by hedge funds and other institutional investors.

FIT has been the topic of several recent analyst reports. Morgan Stanley dropped coverage on shares of Fitbit in a report on Thursday, September 13th. ValuEngine downgraded shares of Fitbit from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. Wedbush raised shares of Fitbit from a “neutral” rating to an “outperform” rating and set a $7.00 price objective on the stock in a report on Friday, October 12th. Bank of America increased their price objective on shares of Fitbit from $4.80 to $5.00 and gave the company a “sell” rating in a report on Thursday, August 2nd. Finally, William Blair reaffirmed a “market perform” rating on shares of Fitbit in a report on Friday, September 21st. Three 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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About Fitbit

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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