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Fitbit, Inc. (FIT) Stock Rating Lowered by Vetr Inc

Fitbit, Inc. (FIT) Stock Rating Lowered by Vetr Inc

Fitbit, Inc. (FIT) is an interesting player in the Technology space, with a focus on Scientific & Technical Instruments. The fund owned 1,044,686 shares of the scientific and technical instruments company's stock after buying an additional 874,986 shares during the period. Raymond James Financial Services Advisors Inc. raised its stake in shares of Fitbit by 14.5% in the first quarter. DnB Asset Management AS now owns 10,363,503 shares of the scientific and technical instruments company's stock valued at $61,352,000 after buying an additional 4,644,977 shares in the last quarter. Stoneridge Investment Partners LLC increased its stake in shares of Fitbit by 719.4% in the first quarter. Over the last 90 days, insiders have sold 525,000 shares of company stock valued at $2,800,350. Guggenheim Capital LLC raised its stake in shares of Fitbit by 6.7% in the fourth quarter. Finally, Credit Suisse AG boosted its stake in shares of Fitbit by 150.3% in the first quarter. Fitbit has a 52-week low of $4.90 and a 52-week high of $17.18. Finally, Oppenheimer Holdings, Inc. reiterated an "outperform" rating and set a $8.00 target price on shares of Fitbit in a research report on Monday, June 26th. Over the last five days, shares have faced -1.51% losses and now is down -32% since hitting its 200-day moving average of $6.1. The company's market cap is $1.22 Billion. Fitbit, Inc. (FIT) now trades with a market capitalization of $1.22 Billion. The scientific and technical instruments company reported ($0.15) EPS for the quarter, beating analysts' consensus estimates of ($0.25) by $0.10. Net profit margin of the company was recorded at -8.9 percent, operating profit margin was -11.3 percent, whereas gross profit margin stands at 37.2 percent.

On average, analysts expect that Fitbit will report full-year earnings of ($0.59) per share for the current financial year, with EPS estimates ranging from ($0.65) to ($0.50).

ILLEGAL ACTIVITY NOTICE: This report was originally published by BBNS and is the sole property of of BBNS. Buys 874,986 Shares of Fitbit, Inc.

In the last reported quarter, Fitbit Inc reported its Actual EPS (earnings per share) of $-0.15/share where most of the analysts working on this stock were estimating the EPS to be $-0.19/share. If you are reading this news story on another site, it was stolen and reposted in violation of United States and worldwide copyright and trademark laws.

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The stock is now moving with a Negative distance from 200-Day Simple Moving Average of about -29.28% and has no so good Year to Date (YTD) Performance of -26.78% which means the stock is constantly adding to its value from previous fiscal year end price. Longbow Research restated a "hold" rating on shares of Fitbit in a report on Saturday, May 27th.

Fitbit Inc (NYSE:FIT) has average revenue estimates of $341.17 Million, compared to low analyst estimates of $331.74 Million and high estimates of $364.9 Million for the current quarter. Dougherty & Co reissued a "neutral" rating on shares of Fitbit in a research note on Monday, May 8th. The same analysts are predicting that the company shares will trade to $7.04 within the next 12-18 months. Seven analysts have rated the stock with a sell rating, fourteen have issued a hold rating and six have issued a buy rating to the company's stock. Deutsche Bank AG decreased their price target on Fitbit from $6.50 to $6.00 and set a hold rating for the company in a research report on Monday, May 15th. The shares were acquired at an average price of $5.39 per share, for a total transaction of $134,750.00. Following the completion of the transaction, the director now directly owns 11,442 shares in the company, valued at $60,985.86. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.

In other news, EVP Andy Missan sold 10,000 shares of the business's stock in a transaction that occurred on Thursday, June 1st. The short ratio in the company's stock is documented at 5.44 and the short float is around of 30.84%. Following the transaction, the executive vice president now owns 62,702 shares in the company, valued at approximately $349,250.14. The disclosure for this purchase can be found here.

On the other hand the company has Relative Strength Index (RSI 14) of 52.24 along with Average True Range (ATR 14) of 0.18, Consequently Fitbit Inc (NYSE:FIT)'s weekly and monthly volatility is 3.12%, 3.41% respectively. Corporate insiders own 29.10% of the company's stock.


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