What the Technicals Say About Fitbit, Inc. (FIT)

Fitbit Inc (NYSE:FIT) traded down 2.71% during mid-day trading on Tuesday, hitting $5.74.

In other Fitbit news, EVP Andy Missan sold 25,000 shares of the business's stock in a transaction dated Wednesday, September 27th. The stock was sold at an average price of $5.91, for a total value of $295,500.00. According to today's trading volume Fitbit Inc.is BELOW its 20-Day Avg. volume with the stock showing BELOW Abnormal volume in the past 150 days. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jon Callaghan sold 15,000 shares of the firm's stock in a transaction that occurred on Tuesday, August 1st. The stock was bought at an average price of $5.48 per share, for a total transaction of $99,999.04. To measure price-variation, we found FIT's volatility during a week at 3.99% and during a month it has been found around 4.6%.

A number of other brokerages have also recently commented on FIT. The stock is now moving below its 20-Day Simple Moving Average of -0.02% with a 50-Day Simple Moving Average of 9.51 percent. Raymond James Financial, Inc. reiterated an "outperform" rating and set a $9.00 target price on shares of Fitbit in a research report on Monday, May 8th.

Deutsche Bank "Maintained" Fitbit Inc (NYSE:FIT) in a research note issued to investors on 8/03/17 to Hold with price target of $5.5. Vetr lowered Fitbit from a hold rating to a sell rating and set a $6.67 target price on the stock.in a report on Thursday, September 28th. Six equities research analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. Fitbit has a consensus rating of "Hold" and a consensus target price of $7.45. The third largest holder is Blackrock Inc., which now holds $71.04 million worth of this stock and that ownership represents almost 4.61% of its market capitalization. The company maintains price to book ratio of 0.00 vs.an industry average at 0.57. Fitbit Inc (NYSE:FIT) has declined 60.69% since October 7, 2016 and is downtrending. The scientific and technical instruments company reported ($0.08) earnings per share for the quarter, topping the consensus estimate of ($0.15) by $0.07. Fitbit had a negative return on equity of 20.67% and a negative net margin of 13.79%. The company had revenue of $353.30 million for the quarter, compared to analyst estimates of $341.24 million. During the same period previous year, the company posted $0.12 EPS. The firm's revenue for the quarter was down 39.8% on a year-over-year basis.

Fitbit, Inc. (FIT) reported earning per shares for the quarter ending Nov 01 AMC at -0.08, whereas, 16 number of analysts estimated the mean EPS at -0.03. Renaissance Technologies LLC raised its position in shares of Fitbit by 193.6% in the second quarter. State Street Corp now owns 3,330,776 shares of the scientific and technical instruments company's stock valued at $17,686,000 after purchasing an additional 1,348,058 shares during the period. Swiss National Bank increased its position in Fitbit by 10.3% in the first quarter. UBS Oconnor LLC now owns 1,425,389 shares of the scientific and technical instruments company's stock valued at $21,153,000 after buying an additional 115,862 shares in the last quarter. Artemis Investment Management LLP increased its holdings in Fitbit by 40.2% in the second quarter. Analysts' recommendations or reports can influence the price of a company's stock-especially when the recommendations are widely disseminated through television appearances or through other electronic and print media. Finally, Northern Trust Corp raised its position in shares of Fitbit by 191.8% in the second quarter. Oppenheimer & Co. Inc. lifted its holdings in shares of Fitbit by 11.6% in the 2nd quarter. "(FIT) Shares Gap Down on Insider Selling" was published by StockNewsTimes and is the property of of StockNewsTimes.

Currently Fitbit Inc (NYSE:FIT)'s shares owned by insiders are 0.1%, whereas shares owned by institutional owners are 62.5%.

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