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Fitbit's (FIT) Neutral Rating Reaffirmed at Dougherty & Co

Fitbit's (FIT) Neutral Rating Reaffirmed at Dougherty & Co

Shares of Fitbit, Inc. They now have an equal weight rating on the scientific and technical instruments company's stock.

A number of research firms have recently weighed in on FIT. Benchmark Co. initiated coverage on Fitbit in a research note on Tuesday, April 25th. BNP Paribas Arbitrage SA now owns 386,284 shares of the scientific and technical instruments company's stock worth $2,287,000 after buying an additional 220,700 shares during the period. SunTrust Banks, Inc. reissued a buy rating and issued a $7.00 price objective on shares of Fitbit in a report on Friday, April 14th. Six brokerage firms recommended the company shares with a sell recommendation, thirteen have issued a hold recommendation, around seven have published a buy recommendation and 1 have issued a strong buy recommendation to the share. the share has a consensus rating of Hold and an consensus price target of $7.93. Longbow analysis reiterated a neutral recommendation on stocks of Fitbit in a study report on early Tue, Apr 4th. crowd sourced stock rating company Vetr cut Fitbit from a strong-buy recommendation to a buy recommendation and fixed a $5.84 PT on the shares.in a study report on early Mon, Jun 26th. Stifel Nicolaus restated a "hold" rating and issued a $7.00 target price on shares of Fitbit in a report on Thursday, May 4th. Fitbit presently has an average rating of "Hold" and a consensus target price of $7.93.

Shares of Fitbit (FIT) traded down 2.394% during midday trading on Friday, reaching $5.505. In the last three months, insiders have sold 1,045,000 shares of company stock valued at $5,770,100. Lastly, Capital Fund Management S.A. bought a fresh position in stocks of Fitbit through out the Fiscal Q2 worth at $157,000. large institution funds own 55.71% of the firms stock. Fitbit has a 1 year low of $4.90 and a 1 year high of $17.18. the firms market valuation is $1.28 B. the firms 50 day SMA is $5.46 and its 200 day SMA is $5.70.

Fitbit (NYSE:FIT) last released its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share for the quarter, beating the Thomson Reuters' consensus estimate of ($0.15) by $0.07. Fitbit had a negative return on equity of 20.15% and a negative net margin of 13.79%. The company had revenue of $353.30 million during the quarter, compared to analysts' expectations of $341.24 million. During the same quarter in the previous year, the company posted $0.12 EPS.

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In other news, Director Steven Joseph Murray sold 500,000 shares of Fitbit stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $5.33, for a total transaction of $2,665,000.00. Following the completion of the transaction, the director now directly owns 11,442 shares in the company, valued at approximately $65,562.66. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andy Missan sold 10,000 shares of Fitbit stock in a transaction dated Thursday, June 1st. Following the completion of the sale, the executive vice president now owns 80,332 shares of the company's stock, valued at approximately $456,285.76. The disclosure for this sale can be found here. Corporate insiders own 29.10% of the company's stock. Guardian Life Insurance Co. of America raised its position in Fitbit by 9,679.3% in the first quarter. DnB Asset Management AS increased its position in shares of Fitbit by 57.8% in the second quarter. State Street Corp increased its stake in Fitbit by 14.0% in the fourth quarter. Vanguard Group Inc. now owns 12,808,192 shares of the scientific and technical instruments company's stock valued at $68,012,000 after buying an additional 1,567,672 shares during the last quarter. The fund owned 72,680 shares of the scientific and technical instruments company's stock after buying an additional 34,143 shares during the period. Quantbot Technologies LP increased its stake in Fitbit by 36.9% in the first quarter. Legal & General Group Plc now owns 47,109 shares of the scientific and technical instruments company's stock worth $279,000 after buying an additional 27,557 shares in the last quarter. BNP Paribas Arbitrage SA raised its stake in shares of Fitbit by 133.3% in the first quarter.

Shares of Fitbit, Inc. DnB Asset Management AS raised its stake in shares of Fitbit by 81.2% in the first quarter. 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.