Insider Selling: Fitbit, Inc. (FIT) Director Sells $5,886,843.69 in Stock

Fitbit, Inc. (NYSE:FIT) Director Steven Joseph Murray sold 966,641 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $6.09, for a total value of $5,886,843.69. Following the completion of the sale, the director now owns 11,442 shares of the company’s stock, valued at $69,681.78. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link.

Steven Joseph Murray also recently made the following trade(s):

  • On Wednesday, November 8th, Steven Joseph Murray sold 200 shares of Fitbit stock. The shares were sold at an average price of $6.05, for a total value of $1,210.00.

Fitbit, Inc. (FIT) opened at $6.23 on Friday. Fitbit, Inc. has a 12 month low of $4.90 and a 12 month high of $9.05.

Fitbit (NYSE:FIT) last released its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.04) by $0.03. The company had revenue of $392.50 million for the quarter, compared to analyst estimates of $391.70 million. Fitbit had a negative return on equity of 28.33% and a negative net margin of 23.35%. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.19 earnings per share. analysts predict that Fitbit, Inc. will post -0.49 EPS for the current year.

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Institutional investors have recently made changes to their positions in the company. Principal Financial Group Inc. acquired a new position in shares of Fitbit in the 2nd quarter valued at $114,000. BB&T Securities LLC acquired a new position in shares of Fitbit in the 3rd quarter valued at $116,000. Amalgamated Bank lifted its stake in shares of Fitbit by 20.1% in the 2nd 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. Fortaleza Asset Management Inc. acquired a new position in shares of Fitbit in the 3rd quarter valued at $154,000. Finally, Capital Fund Management S.A. acquired a new position in shares of Fitbit in the 2nd quarter valued at $157,000. 52.76% of the stock is currently owned by institutional investors and hedge funds.

FIT has been the subject of a number of recent analyst reports. Vetr upgraded Fitbit from a “sell” rating to a “hold” rating and set a $5.55 price objective for the company in a research report on Monday, July 24th. Morgan Stanley cut their price objective on Fitbit from $7.00 to $6.50 and set an “equal weight” rating for the company in a research report on Monday, July 31st. Dougherty & Co restated a “neutral” rating on shares of Fitbit in a research report on Monday, July 31st. ValuEngine upgraded Fitbit from a “strong sell” rating to a “sell” rating in a research report on Tuesday, August 1st. Finally, BidaskClub cut Fitbit from a “sell” rating to a “strong sell” rating in a research report on Tuesday, August 1st. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have given a buy rating to the company’s stock. The stock has a consensus rating of “Hold” and a consensus price target of $7.15.

About Fitbit

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.

Insider Buying and Selling by Quarter for Fitbit (NYSE:FIT)

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