Lenox Wealth Management Inc. Raises Position in Fitbit Inc (FIT)

Modesto Morganelli
Dicembre 8, 2017

The shares were sold at an average price of $6.89, for a total value of $34,450.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jon Callaghan sold 15,000 shares of the business's stock in a transaction that occurred on Friday, December 1st. While talking about Performance of the Stock, Fitbit Inc. now has a Weekly performance of 0.59%, monthly performance percentage is 11.88 percent, Quarterly performance is 4.47 percent, 6 months performance shows a percent value of 27.44% and Yearly Performance is -15.04 percent.

On Monday, October 2nd, Andy Missan sold 5,000 shares of Fitbit stock. Insiders have sold 1,051,841 shares of company stock valued at $6,462,854 over the last 90 days.

Shares of Fitbit Inc (FIT) traded up $0.12 during trading on Thursday, hitting $6.78. 3,191,002 shares of the stock were exchanged, compared to its average volume of 7,586,349.

Fitbit Inc (NYSE:FIT) 52-week high price stands at $8.40 and low price stands at $4.90, its price distance from 52-week high is -19.29% while its distance from 52-week low price is 38.37%. The firm presently has a "hold" rating on the scientific and technical instruments company's stock. Fitbit had a negative return on equity of 28.33% and a negative net margin of 23.35%. During the same period previous year, the company earned $0.19 earnings per share. Fitbit's quarterly revenue was down 22.1% on a year-over-year basis. sell-side analysts expect that Fitbit Inc will post -0.49 earnings per share for the current fiscal year. For the current year the company's revenue estimates are $1.63 Billion compared to low analyst estimates of $1.63 Billion and high estimates of $1.65 Billion according to 14 number of analysts. Legal & General Group Plc grew its holdings in Fitbit by 140.9% during the first quarter. Following the completion of the sale, the executive vice president now directly owns 109,475 shares in the company, valued at $745,524.75. Vanguard Group Inc. grew its holdings in Fitbit by 6.1% during the first quarter. Finally, Stifel Financial Corp grew its holdings in Fitbit by 41.3% during the 2nd quarter. Geode Capital Management LLC now owns 978,462 shares of the scientific and technical instruments company's stock worth $5,792,000 after purchasing an additional 30,503 shares during the period. Dimensional Fund Advisors LP now owns 646,872 shares of the scientific and technical instruments company's stock worth $3,829,000 after purchasing an additional 183,025 shares during the period. HighTower Advisors LLC bought a new stake in shares of Fitbit during the 1st quarter worth $185,000. The institutional investor owned 64,968 shares of the scientific and technical instruments company's stock after acquiring an additional 35,922 shares during the quarter.

A number of research firms have issued reports on FIT. Piper Jaffray Companies reaffirmed an "underweight" rating and issued a $5.00 price objective (down from $8.00) on shares of Fitbit in a report on Tuesday, January 31st. Finally, Deutsche Bank reaffirmed a "hold" rating and set a $5.50 target price on shares of Fitbit in a report on Wednesday, August 9th. Vetr lowered Fitbit from a "hold" rating to a "sell" rating and set a $6.67 price objective for the company.in a report on Thursday, September 28th. Four investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and eight have assigned a buy rating to the company. "Raises Position in Fitbit Inc (FIT)" was originally published by Week Herald and is the sole property of of Week Herald. If you are accessing this piece on another website, it was copied illegally and republished in violation of global trademark and copyright legislation.

In terms of Buy, Sell or Hold recommendations, Fitbit Inc (NYSE:FIT) has analysts' mean recommendation of 2.9. 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.

Several other hedge funds have also made changes to their positions in FIT.

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