Teachers Advisors LLC Acquires 32,882 Shares of Fitbit (FIT)

Teachers Advisors LLC lifted its holdings in shares of Fitbit (NYSE:FIT) by 10.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 347,125 shares of the scientific and technical instruments company’s stock after buying an additional 32,882 shares during the period. Teachers Advisors LLC owned approximately 0.17% of Fitbit worth $1,982,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Investors Research Corp acquired a new stake in shares of Fitbit during the fourth quarter worth about $101,000. Greenwich Wealth Management LLC raised its holdings in Fitbit by 84.1% during the fourth quarter. Greenwich Wealth Management LLC now owns 23,425 shares of the scientific and technical instruments company’s stock worth $134,000 after purchasing an additional 10,700 shares in the last quarter. Stone Ridge Asset Management LLC purchased a new position in Fitbit during the fourth quarter worth about $139,000. Ingalls & Snyder LLC purchased a new position in Fitbit during the fourth quarter worth about $140,000. Finally, Fox Run Management L.L.C. purchased a new position in Fitbit during the fourth quarter worth about $296,000. Institutional investors and hedge funds own 61.49% of the company’s stock.

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Shares of Fitbit stock opened at $5.32 on Tuesday. Fitbit has a 12-month low of $4.51 and a 12-month high of $7.32. The stock has a market capitalization of $1,111.83, a price-to-earnings ratio of -8.18 and a beta of 1.90.

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

In other news, EVP Andy Missan sold 5,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 1st. The shares were sold at an average price of $5.17, for a total transaction of $25,850.00. Following the completion of the transaction, the executive vice president now directly owns 125,127 shares of the company’s stock, valued at approximately $646,906.59. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Jon Callaghan sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, April 2nd. The stock was 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 ninety days, insiders sold 60,000 shares of company stock valued at $291,000. 29.10% of the stock is currently owned by corporate insiders.

Several research analysts recently issued reports on FIT shares. Craig Hallum started coverage on shares of Fitbit in a report on Monday, March 19th. They set a “buy” rating for the company. Roth Capital started coverage on shares of Fitbit in a report on Friday, January 5th. They set a “buy” rating and a $10.00 price target for the company. Robert W. Baird reissued a “hold” rating on shares of Fitbit in a 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 report on Tuesday, February 27th. Finally, Stifel Nicolaus raised shares of Fitbit from a “sell” rating to a “hold” rating and cut their price target for the stock from $6.00 to $5.50 in a report on Wednesday, January 31st. Six research 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 has a consensus rating of “Hold” and an average target price of $6.76.

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Fitbit 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.

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Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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