Fitbit Inc. (FIT) Shares Bought by Emerald Advisers Inc. PA
Emerald Advisers Inc. PA raised its stake in shares of Fitbit Inc. (NYSE:FIT) by 10.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 193,701 shares of the company’s stock after buying an additional 17,664 shares during the period. Emerald Advisers Inc. PA’s holdings in Fitbit were worth $2,367,000 as of its most recent filing with the SEC.
A number of other hedge funds have also made changes to their positions in the stock. Emerald Mutual Fund Advisers Trust boosted its position in Fitbit by 1,264.8% in the second quarter. Emerald Mutual Fund Advisers Trust now owns 171,315 shares of the company’s stock valued at $2,093,000 after buying an additional 158,763 shares during the period. Old Mutual Global Investors UK Ltd. purchased a new position in Fitbit during the second quarter valued at approximately $8,989,000. IBM Retirement Fund purchased a new position in Fitbit during the second quarter valued at approximately $156,000. Nordea Investment Management AB purchased a new position in Fitbit during the second quarter valued at approximately $696,000. Finally, Penn Davis Mcfarland Inc. purchased a new position in Fitbit during the second quarter valued at approximately $4,395,000. Hedge funds and other institutional investors own 55.41% of the company’s stock.
Shares of Fitbit Inc. (NYSE:FIT) traded down 3.90% during mid-day trading on Friday, reaching $14.04. The company had a trading volume of 10,246,128 shares. Fitbit Inc. has a one year low of $11.65 and a one year high of $41.97. The stock has a 50 day moving average of $15.25 and a 200-day moving average of $14.67. The firm has a market capitalization of $3.12 billion, a price-to-earnings ratio of 29.62 and a beta of 3.29.
Fitbit (NYSE:FIT) last announced its quarterly earnings data on Tuesday, August 2nd. The company reported $0.12 EPS for the quarter, beating the consensus estimate of $0.11 by $0.01. Fitbit had a net margin of 5.76% and a return on equity of 14.55%. The business earned $586.50 million during the quarter, compared to the consensus estimate of $578.48 million. During the same period in the previous year, the business earned $0.21 earnings per share. The company’s revenue was up 46.5% on a year-over-year basis. Equities analysts predict that Fitbit Inc. will post $1.18 EPS for the current year.
Several equities analysts have commented on the company. Pacific Crest cut Fitbit to a “sell” rating in a report on Wednesday. Zacks Investment Research cut Fitbit from a “hold” rating to a “sell” rating in a report on Tuesday, October 4th. Dougherty & Co reaffirmed a “hold” rating on shares of Fitbit in a report on Monday, October 3rd. Vetr raised Fitbit from a “buy” rating to a “strong-buy” rating and set a $19.15 price target for the company in a report on Monday, October 3rd. Finally, Mizuho set a $20.00 price target on Fitbit and gave the company a “buy” rating in a report on Thursday, September 29th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Fitbit has a consensus rating of “Hold” and a consensus target price of $22.11.
In other news, Director Jon Callaghan sold 15,000 shares of the company’s stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $15.44, for a total transaction of $231,600.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Steven Joseph Murray sold 151,912 shares of the company’s stock in a transaction on Tuesday, August 30th. The stock was sold at an average price of $15.07, for a total transaction of $2,289,313.84. The disclosure for this sale can be found here. Company insiders own 37.29% of the company’s stock.
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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