Fitbit Inc. (NYSE:FIT)’s share price fell 2.5% on Friday . The stock traded as low as $13.40 and last traded at $13.43, with a volume of 3,363,021 shares changing hands. The stock had previously closed at $13.77.

Several equities analysts have commented on FIT shares. Piper Jaffray Cos. reaffirmed a “hold” rating on shares of Fitbit in a research report on Sunday, April 17th. SunTrust Banks Inc. raised Fitbit to a “buy” rating in a research report on Saturday, April 2nd. Dougherty & Co reaffirmed a “neutral” rating on shares of Fitbit in a research report on Friday. Oppenheimer Holdings Inc. reaffirmed an “outperform” rating and issued a $25.00 price objective on shares of Fitbit in a research report on Friday. Finally, Mizuho reaffirmed a “buy” rating and issued a $20.00 price objective on shares of Fitbit in a research report on Monday, May 2nd. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $26.54.

The company has a 50 day moving average of $13.40 and a 200-day moving average of $15.60. The company has a market cap of $2.87 billion and a PE ratio of 22.83.

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

In other Fitbit news, EVP Andy Missan sold 10,000 shares of Fitbit stock in a transaction dated Friday, May 6th. The stock was sold at an average price of $13.32, for a total transaction of $133,200.00. Following the completion of the sale, the executive vice president now directly owns 35,000 shares of the company’s stock, valued at approximately $466,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder Steven Joseph Murray sold 1,000,000 shares of Fitbit stock in a transaction dated Tuesday, May 31st. The stock was sold at an average price of $14.21, for a total value of $14,210,000.00. The disclosure for this sale can be found here.

A number of hedge funds have made changes to their positions in FIT. Sapphire Ventures GPE I L.L.C. acquired a new stake in shares of Fitbit during the fourth quarter worth about $110,342,000. Morgan Stanley increased its stake in shares of Fitbit by 157.5% in the fourth quarter. Morgan Stanley now owns 2,593,748 shares of the company’s stock worth $76,750,000 after buying an additional 1,586,617 shares during the period. Eagle Asset Management acquired a new stake in shares of Fitbit during the third quarter worth about $42,894,000. Zweig DiMenna Associates LLC increased its stake in shares of Fitbit by 108.7% in the fourth quarter. Zweig DiMenna Associates LLC now owns 550,000 shares of the company’s stock worth $16,275,000 after buying an additional 286,500 shares during the period. Finally, Aberdeen Asset Management PLC UK acquired a new stake in shares of Fitbit during the fourth quarter worth about $6,788,000.

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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