Credit Agricole S A increased its position in shares of Fitbit Inc (NYSE:FIT) by 142.2% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,409 shares of the company’s stock after buying an additional 36,059 shares during the period. Credit Agricole S A’s holdings in Fitbit were worth $449,000 at the end of the most recent quarter.
Other large investors also recently bought and sold shares of the company. Aperio Group LLC bought a new stake in Fitbit during the third quarter worth $199,000. Daiwa Securities Group Inc. bought a new stake in Fitbit during the third quarter worth $207,000. Blue Clay Capital Management LLC bought a new stake in Fitbit during the third quarter worth $220,000. IFC Holdings Incorporated FL increased its stake in Fitbit by 14.2% in the third quarter. IFC Holdings Incorporated FL now owns 15,295 shares of the company’s stock worth $216,000 after buying an additional 1,896 shares during the last quarter. Finally, PNC Financial Services Group Inc. increased its stake in Fitbit by 408.8% in the third quarter. PNC Financial Services Group Inc. now owns 15,468 shares of the company’s stock worth $230,000 after buying an additional 12,428 shares during the last quarter. Institutional investors own 65.31% of the company’s stock.
Fitbit Inc (NYSE:FIT) opened at 5.74 on Tuesday. Fitbit Inc has a 12-month low of $5.45 and a 12-month high of $18.85. The firm’s 50-day moving average is $5.98 and its 200 day moving average is $9.71. The company’s market cap is $1.30 billion.
Fitbit (NYSE:FIT) last issued its quarterly earnings data on Wednesday, February 22nd. The company reported ($0.56) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.50) by $0.06. Fitbit had a return on equity of 11.94% and a net margin of 4.67%. The business had revenue of $574 million for the quarter, compared to analysts’ expectations of $576.04 million. During the same period in the previous year, the firm posted $0.35 EPS. The firm’s revenue for the quarter was down 19.3% compared to the same quarter last year. On average, equities analysts expect that Fitbit Inc will post ($0.35) earnings per share for the current fiscal year.
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A number of research firms have recently weighed in on FIT. Dougherty & Co restated a “neutral” rating on shares of Fitbit in a research note on Wednesday, December 7th. Citigroup Inc restated a “neutral” rating and issued a $8.00 price target (down from $10.00) on shares of Fitbit in a research note on Friday, December 23rd. Mizuho set a $9.00 price target on shares of Fitbit and gave the company a “hold” rating in a research note on Wednesday, December 7th. Robert W. Baird restated a “neutral” rating and issued a $6.00 price target (down from $10.00) on shares of Fitbit in a research note on Tuesday, January 31st. Finally, Barclays PLC restated an “equal weight” rating and issued a $10.00 price target on shares of Fitbit in a research note on Friday, December 9th. Six research analysts have rated the stock with a sell rating, thirteen have given a hold rating, five have issued a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $10.92.
In other news, Director Steven Joseph Murray sold 173,152 shares of the business’s stock in a transaction dated Tuesday, March 7th. The stock was sold at an average price of $6.00, for a total transaction of $1,038,912.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Timothy M. Roberts sold 369,385 shares of the business’s stock in a transaction dated Friday, February 24th. The stock was sold at an average price of $6.01, for a total value of $2,220,003.85. Following the transaction, the executive vice president now directly owns 369,385 shares of the company’s stock, valued at approximately $2,220,003.85. The disclosure for this sale can be found here. Insiders have sold 592,537 shares of company stock valued at $3,554,416 in the last three months. 37.29% of the stock is 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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