Fitbit Inc (NYSE:FIT) has been given an average recommendation of “Hold” by the fourteen brokerages that are currently covering the stock, MarketBeat Ratings reports. Three equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating on the company. The average twelve-month price target among brokerages that have updated their coverage on the stock in the last year is $5.83.

FIT has been the subject of a number of research reports. Zacks Investment Research restated a “buy” rating and set a $6.50 target price on shares of Fitbit in a report on Tuesday, November 13th. ValuEngine cut shares of Fitbit from a “buy” rating to a “hold” rating in a report on Tuesday, October 16th. William Blair reaffirmed a “market perform” rating on shares of Fitbit in a research note on Friday, September 21st. raised shares of Fitbit from a “neutral” rating to an “outperform” rating and set a $6.50 price objective for the company in a research note on Friday, October 12th. Finally, Wedbush raised shares of Fitbit from a “neutral” rating to an “outperform” rating and set a $7.00 price objective for the company in a research note on Friday, October 12th.

Shares of Fitbit stock traded up $0.29 on Friday, hitting $6.01. The company had a trading volume of 3,594,290 shares, compared to its average volume of 4,704,069. The stock has a market capitalization of $1.23 billion, a PE ratio of -9.24 and a beta of 1.50. Fitbit has a 52 week low of $4.23 and a 52 week high of $7.79.

Fitbit (NYSE:FIT) last issued its earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $0.04 earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.01) by $0.05. The firm had revenue of $393.60 million during the quarter, compared to analysts’ expectations of $381.25 million. Fitbit had a negative net margin of 16.32% and a negative return on equity of 24.69%. The firm’s revenue for the quarter was up .3% compared to the same quarter last year. During the same period last year, the firm posted ($0.01) earnings per share. As a group, equities research analysts forecast that Fitbit will post -0.64 earnings per share for the current year.

In other news, Director Steven Joseph Murray sold 1,000,000 shares of the firm’s stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $6.19, for a total transaction of $6,190,000.00. Following the transaction, the director now owns 42,332 shares in the company, valued at approximately $262,035.08. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Andy Missan sold 110,000 shares of the firm’s stock in a transaction on Tuesday, December 18th. The shares were sold at an average price of $5.00, for a total transaction of $550,000.00. Following the transaction, the executive vice president now owns 174,999 shares in the company, valued at approximately $874,995. The disclosure for this sale can be found here. In the last quarter, insiders sold 1,127,534 shares of company stock valued at $6,834,166. Insiders own 19.84% of the company’s stock.

A number of institutional investors and hedge funds have recently made changes to their positions in FIT. Alps Advisors Inc. raised its holdings in Fitbit by 91.6% in the 2nd quarter. Alps Advisors Inc. now owns 45,524 shares of the scientific and technical instruments company’s stock worth $297,000 after acquiring an additional 21,770 shares during the period. Sei Investments Co. raised its holdings in Fitbit by 1,671,962.5% in the 2nd quarter. Sei Investments Co. now owns 133,765 shares of the scientific and technical instruments company’s stock worth $873,000 after acquiring an additional 133,757 shares during the period. Rhumbline Advisers grew its position in Fitbit by 8.6% in the 2nd quarter. Rhumbline Advisers now owns 208,891 shares of the scientific and technical instruments company’s stock worth $1,364,000 after purchasing an additional 16,600 shares during the last quarter. Bank of New York Mellon Corp grew its position in Fitbit by 18.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,003,024 shares of the scientific and technical instruments company’s stock worth $6,550,000 after purchasing an additional 156,922 shares during the last quarter. Finally, Schwab Charles Investment Management Inc. grew its position in Fitbit by 26.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,160,629 shares of the scientific and technical instruments company’s stock worth $7,579,000 after purchasing an additional 240,290 shares during the last quarter. Hedge funds and other institutional investors own 63.34% of the company’s stock.

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 Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic 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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Analyst Recommendations for Fitbit (NYSE:FIT)

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