Legal & General Group Plc raised its stake in Fitbit, Inc. (NYSE:FIT) by 140.9% during the first quarter, Holdings Channel reports. The fund owned 47,109 shares of the scientific and technical instruments company’s stock after buying an additional 27,557 shares during the period. Legal & General Group Plc’s holdings in Fitbit were worth $279,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. DnB Asset Management AS raised its stake in shares of Fitbit by 81.2% in the first quarter. DnB Asset Management AS now owns 10,363,503 shares of the scientific and technical instruments company’s stock valued at $61,352,000 after buying an additional 4,644,977 shares during the period. State Street Corp raised its stake in shares of Fitbit by 14.0% in the fourth quarter. State Street Corp now owns 1,631,848 shares of the scientific and technical instruments company’s stock valued at $11,946,000 after buying an additional 199,927 shares during the period. AlpInvest Partners B.V. raised its stake in shares of Fitbit by 220.6% in the first quarter. AlpInvest Partners B.V. now owns 617,547 shares of the scientific and technical instruments company’s stock valued at $3,656,000 after buying an additional 424,942 shares during the period. Quantbot Technologies LP raised its stake in shares of Fitbit by 36.9% in the first quarter. Quantbot Technologies LP now owns 93,661 shares of the scientific and technical instruments company’s stock valued at $554,000 after buying an additional 25,256 shares during the period. Finally, Swiss National Bank raised its stake in shares of Fitbit by 10.3% in the first quarter. Swiss National Bank now owns 238,200 shares of the scientific and technical instruments company’s stock valued at $1,410,000 after buying an additional 22,300 shares during the period. 55.71% of the stock is currently owned by institutional investors.

Shares of Fitbit, Inc. (FIT) opened at 5.93 on Thursday. The stock’s 50 day moving average is $5.44 and its 200-day moving average is $5.71. The company’s market cap is $1.37 billion. Fitbit, Inc. has a 12 month low of $4.90 and a 12 month high of $17.18.

Fitbit (NYSE:FIT) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($0.15) by $0.07. The business had revenue of $353.30 million during the quarter, compared to analysts’ expectations of $341.24 million. Fitbit had a negative net margin of 13.79% and a negative return on equity of 20.15%. The business’s quarterly revenue was down 39.8% on a year-over-year basis. During the same quarter last year, the company posted $0.12 earnings per share. On average, equities analysts forecast that Fitbit, Inc. will post ($0.31) EPS for the current year.

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Several brokerages have commented on FIT. Benchmark Co. began coverage on shares of Fitbit in a report on Tuesday, April 25th. They issued a “buy” rating and a $10.00 price objective for the company. Vetr upgraded shares of Fitbit from a “buy” rating to a “strong-buy” rating and set a $5.79 price objective for the company in a report on Wednesday, August 2nd. SunTrust Banks, Inc. restated a “buy” rating and issued a $7.00 price objective on shares of Fitbit in a report on Friday, April 14th. Cowen and Company set a $6.00 price objective on shares of Fitbit and gave the stock a “hold” rating in a report on Thursday, August 3rd. Finally, Oppenheimer Holdings, Inc. restated an “outperform” rating and issued a $8.00 price objective on shares of Fitbit in a report on Monday, June 26th. Six analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have assigned a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus target price of $7.93.

In other news, Director Jon Callaghan sold 15,000 shares of the stock in a transaction on Monday, July 3rd. The shares were sold at an average price of $5.31, for a total value of $79,650.00. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Steven Joseph Murray sold 500,000 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $5.73, for a total transaction of $2,865,000.00. Following the completion of the sale, the director now owns 11,442 shares in the company, valued at approximately $65,562.66. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,045,000 shares of company stock valued at $5,770,100. Corporate insiders own 29.10% of the company’s stock.

Fitbit Company Profile

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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Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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