Andy Missan Sells 5,000 Shares of Fitbit Inc (FIT) Stock

Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 5,000 shares of the stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $4.62, for a total value of $23,100.00. Following the completion of the transaction, the executive vice president now directly owns 139,498 shares of the company’s stock, valued at $644,480.76. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Andy Missan also recently made the following trade(s):

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  • On Thursday, March 1st, Andy Missan sold 5,000 shares of Fitbit stock. The shares were sold at an average price of $4.76, for a total value of $23,800.00.
  • On Thursday, February 1st, Andy Missan sold 5,000 shares of Fitbit stock. The shares were sold at an average price of $5.17, for a total value of $25,850.00.

NYSE FIT opened at $4.91 on Friday. The firm has a market cap of $995.23, a PE ratio of -7.55 and a beta of 1.92. Fitbit Inc has a twelve month low of $4.51 and a twelve month high of $7.32.

Fitbit (NYSE:FIT) last released its quarterly earnings results on Monday, February 26th. The scientific and technical instruments company reported ($0.12) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). The business had revenue of $570.76 million for the quarter, compared to analysts’ expectations of $587.03 million. Fitbit had a negative return on equity of 17.11% and a negative net margin of 17.16%. research analysts predict that Fitbit Inc will post -0.55 earnings per share for the current year.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Penbrook Management LLC purchased a new position in shares of Fitbit during the 4th quarter worth $653,000. MetLife Investment Advisors LLC purchased a new position in shares of Fitbit during the 4th quarter worth $476,000. Millennium Management LLC grew its holdings in shares of Fitbit by 3.6% during the 4th quarter. Millennium Management LLC now owns 990,612 shares of the scientific and technical instruments company’s stock worth $5,656,000 after purchasing an additional 34,093 shares during the period. Teachers Advisors LLC grew its holdings in shares of Fitbit by 10.5% during the 4th quarter. Teachers Advisors LLC now owns 347,125 shares of the scientific and technical instruments company’s stock worth $1,982,000 after purchasing an additional 32,882 shares during the period. Finally, Raymond James & Associates grew its holdings in shares of Fitbit by 12.2% during the 4th quarter. Raymond James & Associates now owns 147,556 shares of the scientific and technical instruments company’s stock worth $843,000 after purchasing an additional 16,050 shares during the period. Institutional investors and hedge funds own 61.49% of the company’s stock.

FIT has been the subject of several analyst reports. ValuEngine cut Fitbit from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Stifel Nicolaus cut Fitbit from a “hold” rating to a “sell” rating and set a $6.00 target price for the company. in a report on Friday, December 15th. Morgan Stanley cut Fitbit from an “equal weight” rating to an “underweight” rating and dropped their target price for the company from $5.00 to $4.00 in a report on Monday. Roth Capital initiated coverage on Fitbit in a report on Friday, January 5th. They issued a “buy” rating and a $10.00 target price for the company. Finally, Cleveland Research restated a “hold” rating on shares of Fitbit in a report on Thursday, December 21st. Six equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $6.78.

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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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