Investment analysts at Craig Hallum initiated coverage on shares of Fitbit (NYSE:FIT) in a report issued on Monday. The firm set a “buy” rating on the scientific and technical instruments company’s stock.
FIT has been the subject of a number of other research reports. Stifel Nicolaus downgraded Fitbit from a “hold” rating to a “sell” rating and set a $6.00 price objective for the company. in a research report on Friday, December 15th. ValuEngine downgraded Fitbit from a “hold” rating to a “sell” rating in a research report on Friday, December 15th. Cleveland Research reiterated a “hold” rating on shares of Fitbit in a research report on Thursday, December 21st. Morgan Stanley set a $6.00 price objective on Fitbit and gave the company a “hold” rating in a research report on Friday, January 5th. Finally, Roth Capital began coverage on Fitbit in a research report on Friday, January 5th. They set a “buy” rating and a $10.00 price objective for the company. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have given a buy rating to the company. Fitbit has a consensus rating of “Hold” and a consensus target price of $6.85.
Shares of Fitbit stock opened at $5.42 on Monday. The firm has a market capitalization of $1,095.17, a P/E ratio of -4.55 and a beta of 2.14. Fitbit has a 52-week low of $4.67 and a 52-week high of $7.32.
In other Fitbit news, EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $5.90, for a total transaction of $29,500.00. Following the sale, the executive vice president now directly owns 119,981 shares of the company’s stock, valued at approximately $707,887.90. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Jon Callaghan sold 15,000 shares of the business’s stock in a transaction on Tuesday, January 2nd. The shares were sold at an average price of $5.91, for a total transaction of $88,650.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 60,000 shares of company stock worth $316,750. Company insiders own 29.10% of the company’s stock.
Large investors have recently made changes to their positions in the business. BB&T Securities LLC acquired a new stake in Fitbit during the 3rd quarter valued at $116,000. Investors Research Corp acquired a new stake in Fitbit during the 4th quarter valued at $101,000. Greenwich Wealth Management LLC raised its stake in Fitbit by 84.1% during the 4th quarter. Greenwich Wealth Management LLC now owns 23,425 shares of the scientific and technical instruments company’s stock valued at $134,000 after purchasing an additional 10,700 shares during the period. Stone Ridge Asset Management LLC acquired a new stake in Fitbit during the 4th quarter valued at $139,000. Finally, Ingalls & Snyder LLC acquired a new stake in Fitbit during the 4th quarter valued at $140,000. 61.48% of the stock is currently owned by institutional investors.
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Fitbit Company Profile
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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