The Top Three Holders Of Fitbit, Inc. (FIT)

09 October, 2017, 00:06 | Author: Elaine Woods

Recent trading patterns in the stock of Fitbit, Inc. Pacific Crest downgraded the shares of FIT in report on Thursday, September 29 to "Underweight" rating. Finally, Robert W. Baird reiterated a "neutral" rating and set a $6.00 target price (down from $10.00) on shares of Fitbit in a research report on Tuesday, January 31st. Finally, Oppenheimer Holdings, Inc. restated an outperform rating and issued a $8.00 price target on shares of Fitbit in a research note on Tuesday, August 29th. Four analysts have rated the stock with a sell rating, fourteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company. Fitbit has a consensus rating of "Hold" and a consensus target price of $7.45. Morgan Stanley downgraded Fitbit Inc (NYSE:FIT) rating on Thursday, November 3.

A total of 4.88 Billion shares exchanged at hands and its average trading volume is standing at 6.96 Million shares. Fitbit has a 1-year low of $5.62 and a 1-year high of $14.27. Shares are now up over the past year, outperforming the broad market by -100% and underperformed a peer group of similar companies by -282%.

Fitbit (NYSE:FIT) last posted its earnings results on Wednesday, May 3rd. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.15) by $0.07. According to their predictions high & low revenue estimates are 397.66 Million and 388.9 Million respectively. Net profit margin of the company was recorded at -13.8 percent, operating profit margin was -17.1 percent, while gross profit margin stands at 36.7 percent. The firm's quarterly revenue was down 39.8% compared to the same quarter a year ago. During the same period a year ago, the company posted $0.12 EPS.

TRADEMARK VIOLATION WARNING: "JPMorgan Chase & Co". If you are reading this article on another publication, it was illegally stolen and republished in violation of United States & global copyright & trademark legislation. Currently Fitbit, Inc. (FIT) stock is moving with Upswing trend.

In other news, EVP Andy Missan sold 5,000 shares of the company's stock in a transaction on Friday, August 4th.

Fitbit Inc. (FIT)'s RSI (Relative strength index) is at 52.54, its ATR (Average True Range) value is 0.28, while its Beta factor was calculated at 0. Following the completion of the transaction, the director now owns 11,442 shares in the company, valued at $65,562.66. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink.

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Specifically, Director Steven Joseph Murray sold 500,000 shares of the firm's stock in a transaction that occurred on Monday, August 7th. Shares of FIT moved upward with change of 8.23% to its 50-day Moving average. The disclosure for this sale can be found here. The short ratio in the company's stock is documented at 6.59 and the short float is around of 32.64%.

Multiple company employees have indulged in significant insider trading.

Institutional investors have recently added to or reduced their stakes in the stock. DnB Asset Management AS increased its stake in Fitbit by 57.8% in the second quarter. Russell Investments Group Ltd. now owns 104,601 shares of the scientific and technical instruments company's stock worth $621,000 after buying an additional 103,035 shares during the period.

Investors who are keeping close eye on the stock of Fitbit, Inc. DnB Asset Management AS now owns 16,352,508 shares of the scientific and technical instruments company's stock valued at $86,832,000 after acquiring an additional 5,989,005 shares during the last quarter. BNP Paribas Arbitrage SA now owns 446,630 shares of the scientific and technical instruments company's stock worth $2,372,000 after buying an additional 60,346 shares in the last quarter.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 8.92%, and has a solid year to date (YTD) performance of -10.93% which means that the stock is constantly adding to its value from the previous fiscal year end price. Kissinger Financial Services LLC acquired a new position in shares of Fitbit in the 2nd quarter valued at about $153,000.

Want to see what other hedge funds are holding FIT?

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