Published: Fri, July 14, 2017
Sci-tech | By Carrie Guzman

Fitbit, Inc. (NYSE:FIT)


TRADEMARK VIOLATION WARNING: "Fitbit, Inc".

The Target Price for Fitbit Inc (NYSE:FIT) is $7.04/share according to the consensus analysis of analysts working on the stock. The fund owned 115,858 shares of the scientific and technical instruments company's stock at the end of the first quarter. JPMorgan Chase & Co. owned approximately 0.46% of Fitbit worth $6,184,000 as of its most recent SEC filing. Institutional investors own 52.65% of the company's stock. DnB Asset Management AS increased its stake in shares of Fitbit by 81.2% in the first quarter. DnB Asset Management AS now owns 16,352,508 shares of the scientific and technical instruments company's stock valued at $86,832,000 after buying an additional 5,989,005 shares during the last quarter. Guggenheim Capital LLC raised its stake in shares of Fitbit by 6.7% in the fourth quarter. Finally, Norges Bank purchased a new stake in shares of Fitbit during the fourth quarter valued at $8,678,000. Finally, AlpInvest Partners B.V. boosted its stake in Fitbit by 220.6% in the first quarter. Quantbot Technologies LP now owns 93,661 shares of the scientific and technical instruments company's stock worth $554,000 after buying an additional 25,256 shares during the period.

Fitbit Inc (NYSE:FIT) 52-week high price stands at $17.18 and low price stands at $4.90, its price distance from 52-week high is -68.8% while its distance from 52-week low price is 9.39%.

Fitbit, Inc. (FIT) knifed -0.19 percent lower and now trades for $5.23. The stock has a 50 day moving average price of $5.37 and a 200 day moving average price of $6.10. It has a market cap of $1.22 Billion.

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Fitbit (NYSE:FIT) traded down 1.23% during mid-day trading on Wednesday, hitting $5.62. The scientific and technical instruments company reported ($0.15) EPS for the quarter, topping analysts' consensus estimates of ($0.25) by $0.10. Net profit margin of the company was recorded at -8.9 percent, operating profit margin was -11.3 percent, whereas gross profit margin stands at 37.2 percent.

ILLEGAL ACTIVITY NOTICE: This piece was reported by Transcript Daily and is the sole property of of Transcript Daily. Buys 874,986 Shares of Fitbit, Inc. Fitbit, Inc. (NYSE:FIT) earnings have declined with a quarterly rate of 0% over the last 5 years. If you are reading this news story on another site, it was stolen and reposted in violation of USA and global copyright and trademark laws. The legal version of this news story can be accessed at https://sportsperspectives.com/2017/07/13/state-board-of-administration-of-florida-retirement-system-holds-position-in-fitbit-inc-fit-updated-updated.html. Benchmark Co. started coverage on shares of Fitbit in a research note on Tuesday, April 25th. Vetr's price objective would suggest a potential downside of 15.11% from the company's current price. Longbow Research reiterated a hold rating on shares of Fitbit in a research report on Saturday, May 27th. Zacks Investment Research upgraded shares of Fitbit from a "hold" rating to a "buy" rating and set a $7.00 price objective for the company in a research report on Monday, May 8th. A 9 analysts rate it as either a buy or a strong buy, while0 believe that investors should either steer clear of Monday or, if they already own its stock, sell it. Fitbit presently has an average rating of "Hold" and an average price target of $8.30.

Also, Director Steven Joseph Murray sold 500,000 shares of the business's stock in a transaction that occurred on Friday, May 26th. The stock was bought at an average price of $5.39 per share, for a total transaction of $134,750.00. Also, EVP Andy Missan sold 10,000 shares of the firm's stock in a transaction on Thursday, June 1st. Its book value per share for the most recent quarter is $4.26 while its price to book ratio for the same period is 1.26, as for as the company's cash per share for the most recent quarter is $3.12, however its price to cash per share ratio for the same period is 1.72. Following the transaction, the executive vice president now owns 62,702 shares in the company, valued at approximately $349,250.14. The disclosure for this sale can be found here. AlpInvest Partners B.V. now owns 617,547 shares of the scientific and technical instruments company's stock valued at $3,656,000 after buying an additional 424,942 shares in the last quarter.

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