Fitbit (FIT) Stake Decreased by Two Sigma Investments LP

Two Sigma Investments LP trimmed its position in shares of Fitbit (NYSE:FIT) by 94.6% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 65,619 shares of the scientific and technical instruments company’s stock after selling 1,140,345 shares during the quarter. Two Sigma Investments LP’s holdings in Fitbit were worth $375,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FIT. Nationwide Fund Advisors boosted its position in shares of Fitbit by 208.7% during the third quarter. Nationwide Fund Advisors now owns 307,910 shares of the scientific and technical instruments company’s stock worth $2,143,000 after purchasing an additional 208,169 shares in the last quarter. New York State Common Retirement Fund boosted its position in shares of Fitbit by 35.1% during the third quarter. New York State Common Retirement Fund now owns 227,233 shares of the scientific and technical instruments company’s stock worth $1,582,000 after purchasing an additional 59,033 shares in the last quarter. Ameriprise Financial Inc. boosted its position in shares of Fitbit by 421.2% during the third quarter. Ameriprise Financial Inc. now owns 186,793 shares of the scientific and technical instruments company’s stock worth $1,300,000 after purchasing an additional 150,956 shares in the last quarter. American International Group Inc. boosted its position in shares of Fitbit by 8.1% during the third quarter. American International Group Inc. now owns 117,140 shares of the scientific and technical instruments company’s stock worth $815,000 after purchasing an additional 8,758 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Fitbit by 34.1% during the third quarter. JPMorgan Chase & Co. now owns 1,625,664 shares of the scientific and technical instruments company’s stock worth $11,234,000 after purchasing an additional 413,157 shares in the last quarter. 61.49% of the stock is currently owned by institutional investors.

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Shares of NYSE:FIT opened at $5.32 on Tuesday. Fitbit has a 12 month low of $4.51 and a 12 month high of $7.32.

Fitbit (NYSE:FIT) last issued its quarterly earnings data on Monday, February 26th. The scientific and technical instruments company reported ($0.12) EPS for the quarter, missing analysts’ consensus estimates of ($0.06) by ($0.06). Fitbit had a negative return on equity of 17.11% and a negative net margin of 17.16%. The company had revenue of $570.76 million for the quarter, compared to analyst estimates of $587.03 million. equities analysts expect that Fitbit will post -0.55 earnings per share for the current year.

In other Fitbit news, EVP Andy Missan sold 5,000 shares of Fitbit stock in a transaction on Thursday, February 1st. The shares were sold at an average price of $5.17, for a total value of $25,850.00. Following the sale, the executive vice president now directly owns 125,127 shares in the company, valued at approximately $646,906.59. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Jon Callaghan sold 15,000 shares of Fitbit stock in a transaction on Monday, April 2nd. The shares were sold at an average price of $4.62, for a total transaction of $69,300.00. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 60,000 shares of company stock worth $291,000. 29.10% of the stock is currently owned by company insiders.

A number of equities analysts have recently weighed in on FIT shares. Craig Hallum started coverage on shares of Fitbit in a research report on Monday, March 19th. They set a “buy” rating on the stock. Roth Capital started coverage on shares of Fitbit in a research report on Friday, January 5th. They set a “buy” rating and a $10.00 price target on the stock. Robert W. Baird reissued a “hold” rating on shares of Fitbit in a research report on Tuesday, February 27th. Morgan Stanley set a $5.00 price target on shares of Fitbit and gave the stock a “hold” rating in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus raised shares of Fitbit from a “sell” rating to a “hold” rating and reduced their price target for the stock from $6.00 to $5.50 in a research report on Wednesday, January 31st. Six investment analysts have rated the stock with a sell rating, eight have issued a hold rating and six have issued a buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $6.76.

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Fitbit Company Profile

Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic smartwatches; Fitbit Aria 2 Wi-Fi smart scales; and a range of accessories, such as bands and frames for its devices, as well as Fitbit Flyer, a wireless headphone designed for fitness.

Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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