Andy Missan Sells 7,500 Shares of Fitbit Inc (FIT) Stock

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Fitbit Inc (NYSE:FIT) EVP Andy Missan sold 7,500 shares of the company’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $4.99, for a total transaction of $37,425.00. Following the completion of the sale, the executive vice president now directly owns 116,914 shares of the company’s stock, valued at $583,400.86. The sale was disclosed in a filing with the SEC, which is accessible through this link.

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

  • On Wednesday, April 10th, Andy Missan sold 7,500 shares of Fitbit stock. The shares were sold at an average price of $5.85, for a total transaction of $43,875.00.
  • On Monday, March 11th, Andy Missan sold 7,500 shares of Fitbit stock. The shares were sold at an average price of $5.84, for a total transaction of $43,800.00.

Shares of FIT stock traded up $0.07 during trading on Thursday, reaching $5.15. 89,315 shares of the company’s stock traded hands, compared to its average volume of 5,000,467. The stock has a market capitalization of $1.14 billion, a P/E ratio of -8.51 and a beta of 1.62. The company has a current ratio of 1.87, a quick ratio of 1.57 and a debt-to-equity ratio of 0.15. Fitbit Inc has a 1 year low of $4.23 and a 1 year high of $7.79.

Fitbit (NYSE:FIT) last announced its quarterly earnings results on Wednesday, May 1st. The scientific and technical instruments company reported ($0.15) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.22) by $0.07. The company had revenue of $272.00 million for the quarter, compared to analysts’ expectations of $259.71 million. Fitbit had a negative net margin of 12.01% and a negative return on equity of 18.79%. Fitbit’s revenue was up 9.7% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.17) EPS. On average, equities analysts predict that Fitbit Inc will post -0.41 EPS for the current year.

FIT has been the topic of a number of research analyst reports. Roth Capital set a $8.00 target price on shares of Fitbit and gave the company a “buy” rating in a research note on Friday, March 8th. DA Davidson upgraded shares of Fitbit from a “neutral” rating to a “buy” rating and boosted their target price for the company from $5.50 to $7.00 in a research note on Thursday, February 28th. Wedbush cut shares of Fitbit from an “outperform” rating to a “neutral” rating and set a $6.50 target price on the stock. in a research note on Friday, February 22nd. Zacks Investment Research upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $7.50 target price on the stock in a research note on Wednesday, February 27th. Finally, ValuEngine cut shares of Fitbit from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and four have given a buy rating to the company’s stock. Fitbit has a consensus rating of “Hold” and a consensus price target of $6.08.

Hedge funds have recently made changes to their positions in the stock. Macquarie Group Ltd. purchased a new stake in shares of Fitbit during the 4th quarter valued at approximately $33,000. Public Employees Retirement System of Ohio lifted its stake in shares of Fitbit by 49.8% during the 4th quarter. Public Employees Retirement System of Ohio now owns 8,869 shares of the scientific and technical instruments company’s stock valued at $44,000 after buying an additional 2,950 shares in the last quarter. Marshall Wace North America L.P. purchased a new stake in shares of Fitbit during the 1st quarter valued at approximately $62,000. Stevens Capital Management LP purchased a new stake in shares of Fitbit during the 4th quarter valued at approximately $55,000. Finally, Cresset Asset Management LLC purchased a new stake in shares of Fitbit during the 1st quarter valued at approximately $94,000. Institutional investors own 62.73% of the company’s stock.

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About Fitbit

Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Charge 3, Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Ace, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic and Fitbit Versa smartwatches; Fitbit Aria 2 Wi-Fi smart scales; and a range of accessories, such as bands and frames for its devices, as well as Fitbit Flyer, a wireless headphone designed for fitness.

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