Swiss National Bank grew its holdings in Fitbit Inc (NYSE:FIT) by 8.0% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 284,300 shares of the scientific and technical instruments company’s stock after acquiring an additional 21,000 shares during the period. Swiss National Bank owned about 0.14% of Fitbit worth $1,623,000 as of its most recent filing with the Securities & Exchange Commission.
Other institutional investors have also made changes to their positions in the company. BB&T Securities LLC purchased a new position in shares of Fitbit in the third quarter valued at about $116,000. Ingalls & Snyder LLC purchased a new position in shares of Fitbit in the fourth quarter valued at about $140,000. Ameriprise Financial Inc. lifted its position in shares of Fitbit by 35.9% in the second quarter. Ameriprise Financial Inc. now owns 35,837 shares of the scientific and technical instruments company’s stock valued at $186,000 after acquiring an additional 9,461 shares in the last quarter. Private Advisor Group LLC purchased a new position in shares of Fitbit in the third quarter valued at about $187,000. Finally, Fox Run Management L.L.C. purchased a new position in shares of Fitbit in the fourth quarter valued at about $296,000. Institutional investors and hedge funds own 61.48% of the company’s stock.
Shares of Fitbit Inc (NYSE:FIT) opened at $5.31 on Tuesday. Fitbit Inc has a twelve month low of $4.67 and a twelve month high of $7.32.
In other Fitbit news, EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction that occurred on Thursday, February 1st. The stock was sold at an average price of $5.17, for a total transaction of $25,850.00. Following the sale, the executive vice president now directly owns 125,127 shares of the company’s stock, valued at $646,906.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon Callaghan sold 15,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 2nd. The stock was sold at an average price of $5.91, for a total value of $88,650.00. The disclosure for this sale can be found here. Insiders sold 60,000 shares of company stock worth $316,750 over the last ninety days. Insiders own 29.10% of the company’s stock.
Several equities analysts have recently commented on the company. Morgan Stanley set a $5.00 price objective on Fitbit and gave the company a “hold” rating in a research report on Tuesday, February 27th. ValuEngine downgraded Fitbit from a “sell” rating to a “strong sell” rating in a research report on Wednesday, March 7th. Zacks Investment Research downgraded Fitbit from a “hold” rating to a “sell” rating in a research report on Tuesday, February 27th. Bank of America restated an “underperform” rating on shares of Fitbit in a research report on Tuesday, February 27th. Finally, Wedbush reaffirmed a “neutral” rating and issued a $6.00 target price (down from $6.50) on shares of Fitbit in a report on Tuesday, February 27th. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $6.85.
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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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