Fitbit Inc (NYSE:FIT) has been given an average recommendation of “Hold” by the twenty-one analysts that are covering the stock, Marketbeat.com reports. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company. The average 1-year target price among brokers that have covered the stock in the last year is $6.85.
FIT has been the subject of several recent research reports. Roth Capital initiated coverage on Fitbit in a report on Friday, January 5th. They set a “buy” rating and a $10.00 price objective for the company. Stifel Nicolaus lowered Fitbit from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a report on Friday, December 15th. Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $6.75 price objective for the company in a report on Monday, October 30th. Morgan Stanley set a $6.00 price objective on Fitbit and gave the stock a “hold” rating in a report on Friday, January 5th. Finally, ValuEngine lowered Fitbit from a “hold” rating to a “sell” rating in a report on Friday, December 15th.
Shares of Fitbit (NYSE FIT) traded up $0.06 during trading hours on Wednesday, hitting $5.47. The company had a trading volume of 3,732,213 shares, compared to its average volume of 5,840,000. Fitbit has a twelve month low of $4.90 and a twelve month high of $7.32. The stock has a market capitalization of $1,310.00 and a price-to-earnings ratio of -3.32.
In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the firm’s stock in a transaction dated Tuesday, January 2nd. The stock was sold at an average price of $5.91, for a total transaction of $88,650.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, EVP Andy Missan sold 5,000 shares of the firm’s stock in a transaction dated Friday, December 1st. The shares were sold at an average price of $6.81, for a total value of $34,050.00. Following the transaction, the executive vice president now owns 109,475 shares in the company, valued at $745,524.75. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,000 shares of company stock worth $357,750. Corporate insiders own 29.10% of the company’s stock.
Large investors have recently modified their holdings of the company. BB&T Securities LLC acquired a new stake in shares of Fitbit in the third quarter valued at about $116,000. Investors Research Corp acquired a new stake in shares of Fitbit in the fourth quarter valued at about $101,000. Principal Financial Group Inc. acquired a new stake in shares of Fitbit in the second quarter valued at about $114,000. Amalgamated Bank grew its position in shares of Fitbit by 20.1% in the second quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company’s stock valued at $117,000 after purchasing an additional 3,698 shares during the last quarter. Finally, Fortaleza Asset Management Inc. acquired a new stake in shares of Fitbit in the third quarter valued at about $154,000. 60.43% of the stock is currently owned by institutional investors.
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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.
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