Boston Common Asset Management LLC purchased a new position in shares of Fitbit Inc. (NYSE:FIT) during the third quarter, Holdings Channel reports. The institutional investor purchased 104,715 shares of the company’s stock, valued at approximately $1,554,000.
A number of other hedge funds also recently made changes to their positions in the stock. Metropolitan Life Insurance Co. NY increased its stake in shares of Fitbit by 233.9% in the second quarter. Metropolitan Life Insurance Co. NY now owns 8,420 shares of the company’s stock worth $103,000 after buying an additional 5,898 shares in the last quarter. Commonwealth Equity Services Inc bought a new stake in shares of Fitbit during the second quarter worth about $129,000. Legal & General Group Plc increased its stake in shares of Fitbit by 71.1% in the second quarter. Legal & General Group Plc now owns 10,967 shares of the company’s stock worth $134,000 after buying an additional 4,558 shares in the last quarter. Greenwich Wealth Management LLC bought a new stake in shares of Fitbit during the second quarter worth about $135,000. Finally, Wedbush Securities Inc. bought a new stake in shares of Fitbit during the second quarter worth about $140,000. Institutional investors own 61.63% of the company’s stock.
Fitbit Inc. (NYSE:FIT) traded down 1.2661% on Friday, hitting $8.5701. 1,012,833 shares of the company traded hands. Fitbit Inc. has a 12 month low of $8.33 and a 12 month high of $34.68. The stock’s 50-day moving average is $11.70 and its 200 day moving average is $13.60. The firm has a market capitalization of $1.92 billion, a P/E ratio of 20.8012 and a beta of 3.29.
Fitbit (NYSE:FIT) last released its quarterly earnings data on Wednesday, November 2nd. The company reported $0.19 earnings per share (EPS) for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.19. Fitbit had a net margin of 4.67% and a return on equity of 11.94%. The firm earned $503.80 million during the quarter, compared to analysts’ expectations of $506.93 million. During the same period last year, the business earned $0.24 earnings per share. Fitbit’s revenue was up 23.1% compared to the same quarter last year. Equities analysts forecast that Fitbit Inc. will post $0.58 EPS for the current fiscal year.
A number of analysts have recently weighed in on the stock. Pacific Crest downgraded shares of Fitbit from a “sector weight” rating to an “underweight” rating and boosted their target price for the stock from $15.88 to $16.70 in a report on Thursday, September 29th. Vetr upgraded shares of Fitbit from a “buy” rating to a “strong-buy” rating and set a $19.15 target price on the stock in a report on Monday, October 3rd. Piper Jaffray Cos. downgraded shares of Fitbit from a “neutral” rating to an “underweight” rating and reduced their target price for the stock from $14.00 to $8.00 in a report on Thursday, November 3rd. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $25.00 target price on shares of Fitbit in a report on Wednesday, November 2nd. Finally, Wedbush downgraded shares of Fitbit from an “outperform” rating to a “neutral” rating and reduced their target price for the stock from $18.00 to $10.00 in a report on Thursday, November 3rd. Five research analysts have rated the stock with a sell rating, sixteen have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $15.75.
In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the stock in a transaction dated Thursday, September 1st. The shares were sold at an average price of $14.91, for a total transaction of $223,650.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Steven Joseph Murray sold 151,912 shares of the stock in a transaction dated Tuesday, August 30th. The stock was sold at an average price of $15.07, for a total transaction of $2,289,313.84. The disclosure for this sale can be found here. Corporate insiders own 37.29% of the company’s stock.
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.