Fitbit Inc. (NYSE:FIT) shares rose 3.9% during mid-day trading on Thursday . The stock traded as high as $13.30 and last traded at $13.00, with a volume of 6,178,971 shares traded. The stock had previously closed at $12.51.

A number of research analysts recently weighed in on the company. Mizuho reaffirmed a “buy” rating and set a $20.00 price objective on shares of Fitbit in a research report on Thursday, March 31st. Longbow Research reaffirmed a “buy” rating and set a $20.00 price objective on shares of Fitbit in a research report on Saturday, April 16th. Pacific Crest reaffirmed a “hold” rating on shares of Fitbit in a research report on Wednesday, April 13th. Citigroup Inc. reaffirmed a “buy” rating and set a $30.00 price objective on shares of Fitbit in a research report on Friday, May 6th. Finally, Cowen and Company raised their price objective on Fitbit from $19.00 to $20.00 and gave the company a “market perform” rating in a research report on Thursday, April 21st. Twelve equities research analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Buy” and a consensus target price of $27.14.

The company has a 50-day moving average of $13.48 and a 200-day moving average of $15.94. The company has a market capitalization of $2.93 billion and a P/E ratio of 23.32.

Fitbit (NYSE:FIT) last released its quarterly earnings results on Wednesday, May 4th. The company reported $0.10 earnings per share for the quarter, topping the consensus estimate of $0.03 by $0.07. The company had revenue of $505.40 million for the quarter, compared to analyst estimates of $442.28 million. During the same quarter last year, the company earned $0.27 EPS. The firm’s revenue for the quarter was up 50.1% on a year-over-year basis. Equities research analysts expect that Fitbit Inc. will post $1.17 EPS for the current year.

In other Fitbit news, EVP Timothy M. Roberts sold 47,470 shares of the stock in a transaction dated Monday, May 2nd. The shares were sold at an average price of $18.10, for a total value of $859,207.00. Following the completion of the sale, the executive vice president now owns 47,470 shares in the company, valued at approximately $859,207. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Steven Joseph Murray sold 1,000,000 shares of the stock in a transaction dated Tuesday, May 31st. The shares were sold at an average price of $14.21, for a total transaction of $14,210,000.00. The disclosure for this sale can be found here.

A number of hedge funds have added to or reduced their stakes in FIT. California State Teachers Retirement System increased its stake in Fitbit by 1.7% in the fourth quarter. California State Teachers Retirement System now owns 78,804 shares of the company’s stock worth $2,332,000 after buying an additional 1,302 shares during the last quarter. Family Management Corp acquired a new stake in Fitbit during the fourth quarter worth approximately $1,495,000. J. Goldman & Co LP acquired a new stake in Fitbit during the fourth quarter worth approximately $1,888,000. UBS Oconnor LLC acquired a new stake in Fitbit during the fourth quarter worth approximately $1,941,000. Finally, New York State Common Retirement Fund increased its stake in Fitbit by 2,453.5% in the fourth quarter. New York State Common Retirement Fund now owns 112,225 shares of the company’s stock worth $3,321,000 after buying an additional 107,830 shares during the last quarter.

Fitbit, Inc (Fitbit) is a provider of health and fitness products. The Company’s Fitbit platform combines connected health and fitness devices with software and services, including an online dashboard and mobile applications, data analytics, motivational and social tools, personalized insights, and virtual coaching through fitness plans and interactive workouts.

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