GSA Capital Partners LLP lowered its position in shares of Fitbit Inc. (NYSE:FIT) by 61.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 26,078 shares of the company’s stock after selling 42,045 shares during the period. GSA Capital Partners LLP’s holdings in Fitbit were worth $319,000 at the end of the most recent reporting period.
Several other large investors also recently made changes to their positions in the stock. Lombardia Capital Partners LLC raised its stake in shares of Fitbit by 1,756.4% in the second quarter. Lombardia Capital Partners LLC now owns 460,508 shares of the company’s stock worth $5,627,000 after buying an additional 435,702 shares during the period. Commonwealth Equity Services Inc bought a new stake in shares of Fitbit during the second quarter worth $129,000. State Board of Administration of Florida Retirement System raised its stake in shares of Fitbit by 464.9% in the second quarter. State Board of Administration of Florida Retirement System now owns 105,466 shares of the company’s stock worth $1,289,000 after buying an additional 86,796 shares during the period. Utah Retirement Systems bought a new stake in shares of Fitbit during the second quarter worth $280,000. Finally, Emerald Acquisition Ltd. bought a new stake in shares of Fitbit during the second quarter worth $397,000. 55.41% of the stock is currently owned by hedge funds and other institutional investors.
Shares of Fitbit Inc. (NYSE:FIT) traded down 2.974% during mid-day trading on Monday, reaching $16.475. 5,787,876 shares of the company traded hands. Fitbit Inc. has a 52 week low of $11.65 and a 52 week high of $41.97. The company has a market capitalization of $3.66 billion, a P/E ratio of 34.757 and a beta of 3.30. The stock’s 50-day moving average is $15.25 and its 200-day moving average is $14.59.
Fitbit (NYSE:FIT) last issued its quarterly earnings data on Tuesday, August 2nd. The company reported $0.12 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Fitbit had a net margin of 5.76% and a return on equity of 14.55%. The company had revenue of $586.50 million for the quarter, compared to the consensus estimate of $578.48 million. During the same period last year, the firm posted $0.21 EPS. Fitbit’s revenue for the quarter was up 46.5% on a year-over-year basis. On average, equities analysts predict that Fitbit Inc. will post $1.18 EPS for the current fiscal year.
A number of brokerages have recently weighed in on FIT. TheStreet raised shares of Fitbit from a “sell” rating to a “hold” rating in a report on Thursday. Vetr lowered shares of Fitbit from a “strong-buy” rating to a “buy” rating and set a $18.46 price objective on the stock. in a report on Thursday. Longbow Research raised shares of Fitbit to a “buy” rating and set a $20.00 price objective on the stock in a report on Monday, September 19th. Mizuho set a $20.00 target price on shares of Fitbit and gave the company a “buy” rating in a research report on Thursday, September 15th. Finally, Bank of America Corp. restated a “buy” rating and set a $24.00 target price on shares of Fitbit in a research report on Thursday, September 1st. Thirteen analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $22.70.
In other news, EVP Andy Missan sold 10,000 shares of Fitbit stock in a transaction dated Wednesday, July 6th. The shares were sold at an average price of $12.35, for a total value of $123,500.00. Following the sale, the executive vice president now owns 45,000 shares of the company’s stock, valued at $555,750. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, Director Jon Callaghan sold 15,000 shares of Fitbit stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $15.44, for a total transaction of $231,600.00. The disclosure for this sale can be found here. 37.29% of the stock is currently owned by insiders.
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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