US Bancorp DE Grows Position in Fitbit Inc (NYSE:FIT)

US Bancorp DE increased its position in shares of Fitbit Inc (NYSE:FIT) by 3,071.1% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 72,111 shares of the scientific and technical instruments company’s stock after purchasing an additional 69,837 shares during the period. US Bancorp DE’s holdings in Fitbit were worth $426,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Fitbit by 46.5% during the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 18,443 shares of the scientific and technical instruments company’s stock worth $92,000 after purchasing an additional 5,854 shares during the last quarter. Squarepoint Ops LLC lifted its holdings in Fitbit by 1,972.9% during the 4th quarter. Squarepoint Ops LLC now owns 824,186 shares of the scientific and technical instruments company’s stock worth $4,096,000 after purchasing an additional 784,426 shares during the last quarter. Intellectus Partners LLC lifted its holdings in Fitbit by 1,022.8% during the 4th quarter. Intellectus Partners LLC now owns 640,000 shares of the scientific and technical instruments company’s stock worth $3,181,000 after purchasing an additional 583,000 shares during the last quarter. Legal & General Group Plc lifted its holdings in Fitbit by 10.7% during the 4th quarter. Legal & General Group Plc now owns 78,236 shares of the scientific and technical instruments company’s stock worth $388,000 after purchasing an additional 7,578 shares during the last quarter. Finally, Hsbc Holdings PLC lifted its holdings in Fitbit by 8.5% during the 4th quarter. Hsbc Holdings PLC now owns 61,812 shares of the scientific and technical instruments company’s stock worth $307,000 after purchasing an additional 4,831 shares during the last quarter. 66.85% of the stock is owned by institutional investors and hedge funds.

In other Fitbit news, EVP Andy Missan sold 7,500 shares of the firm’s stock in a transaction on Friday, May 10th. The stock was sold at an average price of $4.99, for a total transaction of $37,425.00. Following the transaction, the executive vice president now owns 116,914 shares in the company, valued at approximately $583,400.86. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In the last 90 days, insiders have sold 22,594 shares of company stock worth $116,772. Corporate insiders own 18.60% of the company’s stock.

Fitbit stock traded down $0.06 during mid-day trading on Friday, reaching $4.45. 36,034 shares of the company were exchanged, compared to its average volume of 4,304,831. Fitbit Inc has a 12 month low of $4.23 and a 12 month high of $7.58. The company has a debt-to-equity ratio of 0.15, a current ratio of 1.87 and a quick ratio of 1.57. The firm has a market cap of $1.01 billion, a PE ratio of -7.40 and a beta of 1.59.

Fitbit (NYSE:FIT) last posted its quarterly earnings data on Wednesday, May 1st. The scientific and technical instruments company reported ($0.15) EPS for the quarter, topping the Zacks’ consensus estimate of ($0.22) by $0.07. Fitbit had a negative return on equity of 18.79% and a negative net margin of 12.01%. The firm had revenue of $272.00 million for the quarter, compared to analyst estimates of $259.71 million. During the same quarter last year, the company earned ($0.17) EPS. The company’s revenue was up 9.7% on a year-over-year basis. Sell-side analysts expect that Fitbit Inc will post -0.41 earnings per share for the current fiscal year.

A number of equities analysts have commented on the company. Zacks Investment Research upgraded Fitbit from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research note on Wednesday, May 8th. ValuEngine lowered Fitbit from a “buy” rating to a “hold” rating in a research note on Monday, April 15th. William Blair restated a “market perform” rating on shares of Fitbit in a research note on Monday, March 11th. Roth Capital set a $8.00 price objective on Fitbit and gave the stock a “buy” rating in a research note on Friday, March 8th. Finally, DA Davidson upgraded Fitbit from a “neutral” rating to a “buy” rating and raised their price objective for the stock from $5.50 to $7.00 in a research note on Thursday, February 28th. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and four have given a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $6.08.

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About Fitbit

Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Charge 3, Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Ace, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic and Fitbit Versa 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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