Raymond James Financial Services Advisors Inc. Has $452,000 Position in Fitbit Inc (FIT)

Raymond James Financial Services Advisors Inc. increased its position in Fitbit Inc (NYSE:FIT) by 123.7% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,968 shares of the scientific and technical instruments company’s stock after acquiring an additional 35,922 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Fitbit were worth $452,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in FIT. Principal Financial Group Inc. purchased a new stake in Fitbit in the 2nd quarter worth approximately $114,000. Amalgamated Bank grew its holdings in Fitbit by 20.1% during the 2nd quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company’s stock valued at $117,000 after buying an additional 3,698 shares in the last quarter. Capital Fund Management S.A. purchased a new stake in Fitbit during the 2nd quarter valued at approximately $157,000. HighTower Advisors LLC grew its holdings in Fitbit by 5.6% during the 2nd quarter. HighTower Advisors LLC now owns 32,831 shares of the scientific and technical instruments company’s stock valued at $174,000 after buying an additional 1,735 shares in the last quarter. Finally, Stifel Financial Corp grew its holdings in Fitbit by 41.3% during the 2nd quarter. Stifel Financial Corp now owns 33,542 shares of the scientific and technical instruments company’s stock valued at $179,000 after buying an additional 9,800 shares in the last quarter. 58.36% of the stock is owned by institutional investors.

In other Fitbit news, EVP Andy Missan sold 5,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $6.81, for a total value of $34,050.00. Following the completion of the transaction, the executive vice president now directly owns 109,475 shares of the company’s stock, valued at $745,524.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jon Callaghan sold 15,000 shares of the business’s stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $6.81, for a total value of $102,150.00. The disclosure for this sale can be found here. Insiders have sold 1,051,841 shares of company stock valued at $6,462,854 in the last ninety days. Corporate insiders own 29.10% of the company’s stock.

A number of brokerages have issued reports on FIT. Stifel Nicolaus reaffirmed a “hold” rating and set a $6.00 price objective on shares of Fitbit in a report on Friday, November 3rd. Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $6.75 price target for the company in a research report on Monday, October 30th. Cowen set a $6.00 target price on Fitbit and gave the stock a “hold” rating in a research report on Monday, October 23rd. Morgan Stanley lifted their target price on Fitbit from $6.50 to $7.00 and gave the stock an “equal weight” rating in a research report on Friday, October 20th. Finally, Vetr upgraded Fitbit from a “hold” rating to a “buy” rating and set a $6.67 target price for the company in a research report on Thursday, October 19th. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have issued a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $7.11.

Shares of Fitbit Inc (FIT) traded up $0.12 during trading on Thursday, hitting $6.78. The stock had a trading volume of 2,952,800 shares, compared to its average volume of 7,605,197. Fitbit Inc has a 1 year low of $4.90 and a 1 year high of $8.40.

Fitbit (NYSE:FIT) last posted its earnings results on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.04) by $0.03. Fitbit had a negative return on equity of 28.33% and a negative net margin of 23.35%. The company had revenue of $392.50 million for 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 quarterly revenue was down 22.1% compared to the same quarter last year. analysts forecast that Fitbit Inc will post -0.49 EPS for the current year.

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About Fitbit

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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