Fitbit Inc (FIT) EVP Sells $25850.00 in Stock

Out of the analyst recommendations 1 rate Fitbit Inc (NYSE:FIT) stock a Buy, 2 rate the stock Outperform, 8 rate Hold, 1 rate Underperform and 1 recommend a Sell.

The stock decreased 1.76% or $0.095 during the last trading session, reaching $5.315. Following the sale, the executive vice president now directly owns 109,475 shares of the company's stock, valued at approximately $745,524.75.

On Tuesday, January 2nd, Andy Missan sold 5,000 shares of Fitbit stock. The shares were sold at an average price of $5.91, for a total transaction of $88,650.00. The brokerage presently has a $5.50 price target on the scientific and technical instruments company's stock, down from their previous price target of $6.00. Fitbit, Inc. (FIT) recently closed with fall of -1.40% to its 20-Day Simple Moving Average.

Fitbit, Inc. (FIT) now trades with a market capitalization of $1.27 Billion. Fitbit Inc has a one year low of $4.90 and a one year high of $7.32. Fitbit had 85 analyst reports since August 6, 2015 according to SRatingsIntel. ValuEngine lowered shares of Fitbit from a "hold" rating to a "sell" rating in a research note on Friday, December 15th. The rating was downgraded by Stifel Nicolaus on Friday, December 15 to "Sell". Cleveland Research restated a "hold" rating on shares of Fitbit in a research note on Thursday, December 21st. Finally, Morgan Stanley set a $6.00 price target on shares of Fitbit and gave the stock a "hold" rating in a research note on Friday, January 5th.

Price targets show what analysts believes a stock will be worth at the end of a certain time period. Three investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company's stock. Robert W. Baird has "Neutral" rating and $16 target.

A number of large investors have recently modified their holdings of the stock.

A stock rating usually tells investors how well a stock's market value relates to what analysts think is a fair value for the stock, based on an independent evaluation of the company. Amalgamated Bank increased its stake in Fitbit by 20.1% during the second quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company's stock worth $117,000 after purchasing an additional 3,698 shares during the period. Vanguard Group Inc. lifted its stake in shares of Fitbit by 13.9% during the 2nd quarter. Sumitomo Mitsui Asset Management Company LTD now owns 5,743,980 shares of the scientific and technical instruments company's stock valued at $32,798,000 after acquiring an additional 472,075 shares during the period. Ameriprise Financial Inc. raised its position in Fitbit by 35.9% in the 2nd quarter.

Fitbit, Inc. designs and sells connected health and fitness tracking devices. Finally, State Street Corp lifted its stake in shares of Fitbit by 68.0% during the 2nd quarter. The fund owned 471,308 shares of the scientific and technical instruments company's stock after purchasing an additional 116,034 shares during the period.

Several other hedge funds and other institutional investors have also bought and sold shares of the company.

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In the options pits, traders have been upping the bearish ante ahead of earnings, with data from International Securities Exchange (ISE), Chicago Board Options Exchange (CBOE), and NASDAQ OMX PHLX (PHLX) showing FIT with a 10-day put/call volume ratio of 0.84, ranking in the 95th percentile of its annual range.

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