BB&T Securities LLC acquired a new stake in shares of Fitbit Inc (NYSE:FIT) during the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 16,730 shares of the scientific and technical instruments company’s stock, valued at approximately $116,000.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. BNP Paribas Arbitrage SA raised its stake in shares of Fitbit by 15.6% during the second quarter. BNP Paribas Arbitrage SA now owns 446,630 shares of the scientific and technical instruments company’s stock valued at $2,372,000 after purchasing an additional 60,346 shares during the period. Alliancebernstein L.P. raised its stake in shares of Fitbit by 360.5% during the second quarter. Alliancebernstein L.P. now owns 211,700 shares of the scientific and technical instruments company’s stock valued at $1,124,000 after purchasing an additional 165,733 shares during the period. SG Americas Securities LLC purchased a new stake in shares of Fitbit during the second quarter valued at approximately $1,723,000. California State Teachers Retirement System raised its stake in shares of Fitbit by 23.1% during the second quarter. California State Teachers Retirement System now owns 309,530 shares of the scientific and technical instruments company’s stock valued at $1,644,000 after purchasing an additional 57,987 shares during the period. Finally, Dimensional Fund Advisors LP raised its stake in shares of Fitbit by 53.1% during the second quarter. Dimensional Fund Advisors LP now owns 990,273 shares of the scientific and technical instruments company’s stock valued at $5,258,000 after purchasing an additional 343,401 shares during the period. Institutional investors own 58.36% of the company’s stock.

Shares of Fitbit Inc (NYSE:FIT) opened at $7.02 on Thursday. Fitbit Inc has a 12 month low of $4.90 and a 12 month high of $8.40.

Fitbit (NYSE:FIT) last released its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) earnings per share for the quarter, beating the consensus estimate of ($0.04) by $0.03. Fitbit had a negative net margin of 23.35% and a negative return on equity of 28.33%. The firm had revenue of $392.50 million during the quarter, compared to analyst estimates of $391.70 million. During the same quarter in the previous year, the firm earned $0.19 earnings per share. The firm’s revenue for the quarter was down 22.1% compared to the same quarter last year. sell-side analysts predict that Fitbit Inc will post -0.49 earnings per share for the current fiscal year.

In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the business’s stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $6.29, for a total transaction of $94,350.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction on Friday, December 1st. The shares were sold at an average price of $6.81, for a total transaction of $34,050.00. Following the sale, the executive vice president now owns 109,475 shares of the company’s stock, valued at approximately $745,524.75. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,051,841 shares of company stock valued at $6,462,854. 29.10% of the stock is owned by insiders.

A number of analysts have recently issued reports on FIT shares. Vetr upgraded shares of Fitbit from a “hold” rating to a “buy” rating and set a $5.79 price objective on the stock in a research note on Wednesday, August 16th. BidaskClub upgraded shares of Fitbit from a “strong sell” rating to a “sell” rating in a research note on Friday, August 25th. Zacks Investment Research lowered shares of Fitbit from a “buy” rating to a “hold” rating in a research note on Monday, August 28th. Oppenheimer restated an “outperform” rating and issued a $8.00 price target on shares of Fitbit in a research note on Tuesday, August 29th. Finally, Robert W. Baird restated a “neutral” rating and issued a $6.00 price target on shares of Fitbit in a research note on Tuesday, September 5th. Four research analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. The company has a consensus rating of “Hold” and a consensus target price of $6.94.

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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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