Fitbit Inc. (NYSE:FIT) traded down 3.6% on Wednesday . The stock traded as low as $14.70 and last traded at $14.85, with a volume of 5,525,493 shares traded. The stock had previously closed at $15.41.

Several equities research analysts have recently weighed in on the company. Oppenheimer Holdings Inc. reissued a “buy” rating and set a $25.00 price objective on shares of Fitbit in a research note on Sunday, May 22nd. Leerink Swann restated a “market perform” rating on shares of Fitbit in a report on Friday, June 24th. Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $20.00 target price for the company in a report on Monday, May 2nd. Dougherty & Co restated a “neutral” rating on shares of Fitbit in a report on Wednesday, June 1st. Finally, Piper Jaffray Cos. restated a “hold” rating and issued a $14.00 target price (down previously from $16.00) on shares of Fitbit in a report on Tuesday, July 12th. One research analyst has rated the stock with a sell rating, thirteen have issued a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average target price of $24.45.

The company has a market cap of $3.24 billion and a P/E ratio of 30.76. The firm’s 50 day moving average price is $13.85 and its 200-day moving average price is $14.41.

Fitbit (NYSE:FIT) last issued its quarterly earnings results on Tuesday, August 2nd. The company reported $0.12 EPS for the quarter, topping the consensus estimate of $0.11 by $0.01. The business had revenue of $586.50 million for the quarter, compared to the consensus estimate of $578.48 million. The company’s quarterly revenue was up 46.5% compared to the same quarter last year. During the same period last year, the firm earned $0.21 earnings per share. On average, analysts predict that Fitbit Inc. will post $1.18 EPS for the current fiscal year.

In other news, major shareholder Philip Douglas Black sold 25,000 shares of the company’s stock in a transaction dated Wednesday, May 25th. The shares were sold at an average price of $14.01, for a total value of $350,250.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Andy Missan sold 10,000 shares of the company’s stock in a transaction dated Monday, June 6th. The shares were sold at an average price of $14.35, for a total transaction of $143,500.00. Following the completion of the sale, the executive vice president now directly owns 45,000 shares in the company, valued at $645,750. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Fitbit stock. Wells Fargo & Company MN boosted its position in shares of Fitbit Inc. (NYSE:FIT) by 176.0% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 366,210 shares of the company’s stock after buying an additional 233,531 shares during the period. Wells Fargo & Company MN owned approximately 0.18% of Fitbit worth $10,836,000 as of its most recent filing with the SEC.

Fitbit, Inc is a provider of health and fitness devices. The Company’s 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 customized fitness plans and interactive workouts.

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