Fitbit Inc (NYSE:FIT) down -12% to close at the price of $4.84. Fitbit has a twelve month low of $4.51 and a twelve month high of $7.32. The shares were sold at an average price of $5.17, for a total transaction of $77,550.00.
However looking at valuation ratios the stock has 5 year expected PEG ratio of 0 whereas its trailing twelve month P/E ratio is 0. $6.17's average target is 27.48% above currents $4.84 stock price. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The shares were sold at an average price of $5.43, for a total value of $27,150.00. Following the completion of the transaction, the executive vice president now directly owns 145,495 shares in the company, valued at $790,037.85. The disclosure for this sale can be found here.
Multiple company employees have indulged in significant insider trading.
A number of research analysts have recently issued reports on the company. Missan Andy has sold 5,000 shares of Fitbit, Inc. The rating was maintained by Roth Capital on Tuesday, May 1 with "Buy". They set a buy rating and a $10.00 target price for the company.
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Morgan Stanley set a $4.00 target price on Fitbit (NYSE:FIT) in a research report sent to investors on Tuesday morning. Citigroup maintained the stock with "Sell" rating in Tuesday, February 27 report. Five equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have assigned a buy rating to the company's stock. Bank of America's target price would indicate a possible downside of -0.83 % from the last stock price of the company.
Fitbit Inc (NYSE:FIT) has an ABR of 2.98 which is the combined stock view of 12 analysts poll results. The scientific and technical instruments company reported ($0.12) earnings per share for the quarter, missing the Zacks' consensus estimate of ($0.06) by ($0.06). The return on assets stands at -18.4%, Return on Equity now is -31.3% and the Return on Investment value is -28.9%. The company had revenue of $570.76 million for the quarter, compared to analyst estimates of $587.03 million.
Several institutional investors and hedge funds have recently bought and sold shares of FIT. For perspective, those results compare favorably to Fitbit's latest guidance, which called for a slightly wider quarterly net loss of $0.18 to $0.21 per share on revenue in the range of $240 million to $255 million. Alps Advisors Inc. purchased a new position in Fitbit in the 1st quarter worth about $121,000. The company has market cap of $1.34 billion. Wells Fargo & Company MN now owns 236,922 shares of the scientific and technical instruments company's stock worth $1,649,000 after acquiring an additional 68,149 shares during the last quarter. He told Alex the company's newest smartwatch, the "Versa", introduced in the quarter, had the best first week of sales of any device the company has ever made. Sumitomo Mitsui Asset Management Company LTD now owns 5,743,980 shares of the scientific and technical instruments company's stock worth $32,798,000 after purchasing an additional 472,075 shares during the last quarter. Finally, Public Employees Retirement System of OH bought a new stake in Fitbit during the 3rd quarter worth about $396,000. Renaissance Technologies LLC now owns 2,975,500 shares of the scientific and technical instruments company's stock worth $16,990,000 after purchasing an additional 1,456,424 shares during the last quarter. Corporate insiders own 19.84% of the company's stock.
Fitbit says sales of its fitness trackers are down, but it expects smartwatches to pick up for the rest of the year led by its new Versa smartwatch.