The 10,000 Shares of Fitbit Inc. (FIT) Stock are sold by Andy Missan

The 10,000 Shares of Fitbit Inc. (FIT) Stock are sold by Andy Missan

Fitbit Inc. (NYSE:FIT) EVP Andy Missan sold 10,000 shares of the company’s stock in a transaction on Thursday, October 6th. The shares were sold at an average price of $14.60, for a total value of $146,000.00. Following the completion of the sale, the executive vice president now owns 45,000 shares of the company’s stock, valued at approximately $657,000. The sale 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 Tuesday, September 6th, Andy Missan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $15.14, for a total value of $227,100.00. On Monday, August 8th, Andy Missan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $15.61, for a total value of $234,150.00. On Wednesday, August 3rd, Andy Missan sold 15,000 shares of Fitbit stock. The shares were sold at an average price of $15.00, for a total value of $225,000.00.

Shares of Fitbit Inc. (NYSE:FIT) opened at 13.34 on Friday. The company’s 50-day moving average price is $15.12 and its 200 day moving average price is $14.64. Fitbit Inc. has a 52 week low of $11.65 and a 52 week high of $41.97. The company has a market cap of $2.96 billion, a P/E ratio of 28.14 and a beta of 3.29.

Fitbit (NYSE:FIT) last posted its earnings results on Tuesday, August 2nd. The company reported $0.12 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. The firm had revenue of $586.50 million for the quarter, compared to analyst estimates of $578.48 million. Fitbit had a return on equity of 14.55% and a net margin of 5.76%. The company’s revenue for the quarter was up 46.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.21 earnings per share. On average, equities analysts forecast that Fitbit Inc. will post $1.18 EPS for the current fiscal year.

Hedge funds have recently added to or reduced their stakes in the stock. Rathbone Brothers plc increased its stake in Fitbit by 6.1% in the second quarter. Rathbone Brothers plc now owns 14,850 shares of the company’s stock valued at $181,000 after buying an additional 850 shares in the last quarter. 1832 Asset Management L.P. increased its stake in Fitbit by 7.6% in the second quarter. 1832 Asset Management L.P. now owns 17,000 shares of the company’s stock valued at $208,000 after buying an additional 1,200 shares in the last quarter. Diligent Investors LLC increased its stake in Fitbit by 6.5% in the second quarter. Diligent Investors LLC now owns 35,718 shares of the company’s stock valued at $436,000 after buying an additional 2,190 shares in the last quarter. IFC Holdings Incorporated FL increased its stake in Fitbit by 25.4% in the second quarter. IFC Holdings Incorporated FL now owns 13,399 shares of the company’s stock valued at $157,000 after buying an additional 2,710 shares in the last quarter. Finally, Legal & General Group Plc increased its stake in Fitbit by 71.1% in the second quarter. Legal & General Group Plc now owns 10,967 shares of the company’s stock valued at $134,000 after buying an additional 4,558 shares in the last quarter. 55.41% of the stock is currently owned by hedge funds and other institutional investors.

A number of brokerages have recently issued reports on FIT. TheStreet raised Fitbit from a “sell” rating to a “hold” rating in a research report on Thursday, September 22nd. Vetr lowered Fitbit from a “strong-buy” rating to a “buy” rating and set a $18.46 target price on the stock. in a research report on Thursday, September 22nd. Pacific Crest lowered 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 research report on Thursday, September 29th. Mizuho set a $20.00 target price on Fitbit and gave the stock a “buy” rating in a research report on Thursday, September 29th. Finally, Longbow Research raised Fitbit to a “buy” rating and set a $20.00 target price on the stock in a research report on Monday, September 19th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Fitbit presently has an average rating of “Hold” and a consensus target price of $22.11.

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