Several other equities analysts have also issued reports on FIT. Dougherty & Co reiterated a neutral rating on shares of Fitbit in a research report on Wednesday, June 1st. Vetr downgraded Fitbit from a strong-buy rating to a buy rating and set a $16.51 price target for the company. in a research report on Wednesday, August 3rd. Royal Bank Of Canada reduced their price target on Fitbit from $45.00 to $40.00 and set an outperform rating for the company in a research report on Wednesday, June 1st. Mizuho reaffirmed a buy rating and set a $20.00 price target on shares of Fitbit in a research report on Wednesday, August 3rd. Finally, Pacific Crest reaffirmed a hold rating on shares of Fitbit in a research report on Wednesday, June 22nd. Thirteen investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. The stock has an average rating of Buy and a consensus price target of $22.70.
Shares of Fitbit (NYSE:FIT) traded up 1.31% during trading on Thursday, reaching $16.98. 8,349,806 shares of the company were exchanged. The stock has a market capitalization of $3.77 billion, a price-to-earnings ratio of 35.82 and a beta of 3.30. The company has a 50 day moving average price of $15.25 and a 200-day moving average price of $14.59. Fitbit has a one year low of $11.65 and a one year high of $41.97.
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, beating the Thomson Reuters’ consensus estimate of $0.11 by $0.01. Fitbit had a return on equity of 14.55% and a net margin of 5.76%. The business earned $586.50 million during the quarter, compared to analyst estimates of $578.48 million. During the same period in the previous year, the firm earned $0.21 EPS. Fitbit’s quarterly revenue was up 46.5% compared to the same quarter last year. Equities analysts predict that Fitbit will post $1.18 EPS for the current year.
In related news, EVP Andy Missan sold 10,000 shares of the firm’s stock in a transaction on Wednesday, July 6th. The stock was sold at an average price of $12.35, for a total value of $123,500.00. Following the transaction, the executive vice president now owns 45,000 shares in the company, valued at $555,750. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jon Callaghan sold 15,000 shares of the firm’s stock in a transaction on Thursday, September 1st. The stock was sold at an average price of $14.91, for a total value of $223,650.00. The disclosure for this sale can be found here. 37.29% of the stock is owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Fitbit by 22.8% in the second quarter. Vanguard Group Inc. now owns 8,371,908 shares of the company’s stock worth $102,305,000 after buying an additional 1,556,199 shares during the last quarter. BlackRock Advisors LLC raised its stake in Fitbit by 1.2% in the second quarter. BlackRock Advisors LLC now owns 2,780,488 shares of the company’s stock valued at $33,978,000 after buying an additional 33,971 shares during the period. BlackRock Institutional Trust Company N.A. raised its stake in Fitbit by 73.1% in the second quarter. BlackRock Institutional Trust Company N.A. now owns 2,755,321 shares of the company’s stock valued at $33,670,000 after buying an additional 1,163,567 shares during the period. Coatue Management LLC raised its stake in Fitbit by 85.2% in the second quarter. Coatue Management LLC now owns 2,501,722 shares of the company’s stock valued at $30,571,000 after buying an additional 1,151,155 shares during the period. Finally, Bloom Tree Partners LLC acquired a new stake in Fitbit during the first quarter valued at $29,552,000. Institutional investors own 55.41% of the company’s stock.
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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