Fitbit (FIT) Stake Lessened by Metropolitan Life Insurance Co. NY

Alicia Farmer
May 4, 2018

Fitbit has $10 highest and $4 lowest target.

In related news, EVP Andy Missan sold 5,000 shares of the company's stock in a transaction dated Tuesday, May 1st. On Thursday, March 15 the stock rating was downgraded by Roth Capital to "Hold".

On average, analysts expect that Fitbit will report full-year sales of $1.47 billion for the current fiscal year, with estimates ranging from $1.43 billion to $1.50 billion. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Fitbit, Inc. (NYSE:FIT) has declined 14.24% since May 4, 2017 and is downtrending. The stock was sold at an average price of $4.62, for a total value of $69,300.00. The stock was sold at an average price of $5.43, for a total transaction of $27,150.00. They set a buy rating for the company. Citigroup reaffirmed a "sell" rating and issued a $4.50 price target (down previously from $5.00) on shares of Fitbit in a report on Tuesday, February 27th.

Bank of America now has a $4.8 target price on the $1.17B market cap company or -0.83 % downside potential.

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Fitbit's stock declined by 5.1% to 5.22 Dollars after the company failed to meet quarterly sales expectations. The disclosure for this sale can be found here. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the stock. Craig Hallum started coverage on shares of Fitbit in a report on Monday, March 19th. Following the transaction, the executive vice president now directly owns 145,495 shares in the company, valued at $790,037.85. Raymond James & Associates now owns 147,556 shares of the scientific and technical instruments company's stock worth $843,000 after purchasing an additional 16,050 shares in the last quarter. NY lessened its position in shares of Fitbit (NYSE:FIT) by 51.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. As per Zacks simplified descending rating scale the ABR rank is displayed in the range of 1 to 5 where 1 represents Strong Buy and 5 a Strong Sell. Over the last quarter, insiders sold 45,000 shares of company stock worth $214,750. American International Group Inc. now owns 130,565 shares of the scientific and technical instruments company's stock worth $746,000 after buying an additional 13,425 shares in the last quarter. The stock has an average rating of "Hold" and an average price target of $6.16. As per Monday, April 30, the company rating was initiated by DA Davidson. Finally, Renaissance Technologies LLC increased its stake in shares of Fitbit by 95.9% in the 4th quarter.

The stock decreased 12.00% or $0.66 during the last trading session, reaching $4.84. Robert W. Baird reiterated a "hold" rating on shares of Fitbit in a report on Tuesday, February 27th. Allianz Asset Management GmbH boosted its holdings in Fitbit by 11.7% during the fourth quarter.

For the current quarter, the company sees revenue of $275 million to $295 million, below the consensus $310 million estimate.

The company's core wearable fitness trackers business has fallen sharply as it faces bigger names with deeper pockets, such as Apple and Samsung, that are relatively new entries in the wearable market but control a large and loyal customer base in electronics. Finally, Stone Ridge Asset Management LLC purchased a new position in Fitbit during the 4th quarter worth $139,000. The institutional investor owned 990,612 shares of the scientific and technical instruments company's stock after acquiring an additional 34,093 shares during the period. Institutional investors and hedge funds own 61.62% of the company's stock.

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