Published: Thu, August 03, 2017
Business | By Max Garcia

Snapshot of Recent Traded Active Stock:: Fitbit, Inc. (FIT)

Snapshot of Recent Traded Active Stock:: Fitbit, Inc. (FIT)

The stock was unloaded at a price range of of $5.33, amounting $2,665,000.00. after the sale, the director has an ownership of 11,442 company stock worth at $60,985.86. The investment company owned 1,614,994 stocks of the scientific and technical instruments firms shares after scooping up an extra 255,394 shares through out the quarter. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. The shares were sold at an average price of $5.33, for a total value of $2,665,000.00. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 525,000 shares of company stock worth $2,800,350.

Fitbit, Inc. (NYSE:FIT)'s stock had its "neutral" rating restated by equities research analysts at Wedbush in a research report issued on Friday. As of June 30th, there was short interest totalling 45,857,545 shares, a growth of 19.1% from the June 15th total of 38,502,758 shares. The stock had a trading volume of 6,070,191 shares. Institutional investors and hedge funds own 56.25% of the company's stock. HighTower Advisors LLC acquired a new stake in Fitbit during the first quarter worth approximately $185,000. Intellectus Partners LLC now owns 155,096 shares of the scientific and technical instruments company's stock valued at $918,000 after buying an additional 9,100 shares during the last quarter. Raymond James Financial Services Advisors Inc. increased its stake in Fitbit by 14.5% in the first quarter.

Analysts await Fitbit, Inc.

In other news, EVP Andy Missan sold 10,000 shares of Fitbit stock in a transaction on Thursday, June 1st. Sumitomo Mitsui Asset Management Company LTD purchased a new stake in shares of Fitbit during the first quarter valued at approximately $24,404,000. AlpInvest Partners B.V. now owns 617,547 shares of the scientific and technical instruments company's stock worth $3,656,000 after buying an additional 424,942 shares during the period. Benchmark initiated coverage on stocks of Fitbit in a note on Tue, Apr 25th. Finally, Oppenheimer Holdings, Inc. reaffirmed an outperform rating and set a $8.00 price objective on shares of Fitbit in a research report on Monday, June 26th. Morgan Stanley dropped their price target on Fitbit from $7.00 to $6.50 and set an equal weight rating on the stock in a research note on Monday.

Shares of Fitbit - which sells wristbands that monitor heart rate, tracks sleeping patterns, steps count and calories - were up about 7 per cent in extended trading on Thursday.

Screen Shot 2017 08 02
Fitbit spiked after reporting earnings that beat analyst

After plenty of anticipation, it looks like Fitbit will finally be ready to release its unnamed smartwatch into the world by the time the holidays roll around, according to the company in its second quarter earnings report. Zacks Investment Research upgraded shares of Fitbit from a "hold" rating to a "buy" rating and set a $7.00 price target on the stock in a research report on Monday, May 8th. They now have a Dollars 10 price target on the stock.

Media stories about Fitbit (NYSE:FIT) have trended positive on Tuesday, Accern reports. The company has a 50 day moving average of $5.35 and a 200 day moving average of $5.75. 1,283,853 stocks of the company were exchanged. Fitbit, Inc. has a 52 week low of $4.90 and a 52 week high of $17.18.

Fitbit (FIT) reported quarterly results and revenue that beat analysts' expectations on Wednesday. The company provided EPS guidance of ($0.40-0.22) for the period, compared to the Thomson Reuters consensus EPS estimate of ($0.35).

For the full year, the company sees revenue of $155 billion to $1.7 billion, up from a prior range of $1.5 billion to $1.7 billion, and a net loss of 22 cents to 40 cents per share, a little better than the prior range of 22 cents to 44 cents per share. On average, analysts anticipate that Fitbit will post ($0.35) EPS for the current fiscal year.

Fitbit, Inc. (FIT) is a part of Technology sector and belongs to Scientific & Technical Instruments industry.

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