Shares of Fitbit Inc. (NYSE:FIT) fell 2.5% during mid-day trading 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 brokerages have recently issued reports on FIT. Piper Jaffray Cos. restated a “hold” rating on shares of Fitbit in a research report on Sunday, April 17th. SunTrust Banks Inc. upgraded Fitbit to a “buy” rating in a research report on Saturday, April 2nd. Oppenheimer Holdings Inc. restated an “outperform” rating and issued a $25.00 price objective on shares of Fitbit in a research report on Friday. Dougherty & Co restated a “neutral” rating on shares of Fitbit in a research report on Friday. Finally, Mizuho reiterated a “buy” rating and issued a $20.00 target price on shares of Fitbit in a research note on Monday, May 2nd. One analyst has rated the stock with a sell rating, twelve have issued a hold rating, thirteen have given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock currently has an average rating of “Buy” and a consensus target price of $26.54.

The company has a 50-day moving average price of $13.37 and a 200-day moving average price of $15.48. The stock has a market cap of $2.87 billion and a P/E ratio of 22.83.

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

In other Fitbit news, COO Hansgregory C. Hartmann sold 150,000 shares of the firm’s stock in a transaction dated Monday, April 18th. The stock was sold at an average price of $17.19, for a total transaction of $2,578,500.00. Following the transaction, the chief operating officer now directly owns 150,000 shares in the company, valued at $2,578,500. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, EVP Timothy M. Roberts sold 47,470 shares of the firm’s 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 transaction, the executive vice president now owns 47,470 shares in the company, valued at $859,207. The disclosure for this sale can be found here.

A number of institutional investors recently bought and sold shares of the stock. First Washington CORP raised its position in Fitbit by 64.6% in the fourth quarter. First Washington CORP now owns 98,500 shares of the company’s stock valued at $2,915,000 after buying an additional 38,640 shares during the period. Zweig DiMenna Associates LLC raised its position in Fitbit by 108.7% in the fourth quarter. Zweig DiMenna Associates LLC now owns 550,000 shares of the company’s stock valued at $16,275,000 after buying an additional 286,500 shares during the period. UBS Oconnor LLC bought a new position in Fitbit during the fourth quarter valued at $1,941,000. J. Goldman & Co LP bought a new position in Fitbit during the fourth quarter valued at $1,888,000. Finally, Telemark Asset Management LLC bought a new position in Fitbit during the fourth quarter valued at $5,918,000.

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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