Intellectus Partners LLC raised its holdings in shares of Fitbit, Inc. (NYSE:FIT) by 15.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 179,546 shares of the scientific and technical instruments company’s stock after acquiring an additional 24,450 shares during the quarter. Intellectus Partners LLC owned approximately 0.08% of Fitbit worth $953,000 at the end of the most recent quarter.

A number of other large investors have also added to or reduced their stakes in the business. HighTower Advisors LLC grew its stake 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 acquiring an additional 1,735 shares in the last quarter. Amalgamated Bank grew its stake 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 acquiring an additional 3,698 shares in the last quarter. Oppenheimer & Co. Inc. grew its stake in Fitbit by 11.6% during the 2nd quarter. Oppenheimer & Co. Inc. now owns 40,063 shares of the scientific and technical instruments company’s stock valued at $213,000 after acquiring an additional 4,150 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its stake in Fitbit by 14.5% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 33,666 shares of the scientific and technical instruments company’s stock valued at $199,000 after acquiring an additional 4,271 shares in the last quarter. Finally, UBS Asset Management Americas Inc. grew its stake in Fitbit by 5.8% during the 1st quarter. UBS Asset Management Americas Inc. now owns 86,177 shares of the scientific and technical instruments company’s stock valued at $510,000 after acquiring an additional 4,732 shares in the last quarter. 56.04% of the stock is currently owned by institutional investors.

In other Fitbit news, EVP Andy Missan sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, August 4th. The stock was sold at an average price of $5.68, for a total value of $28,400.00. Following the completion of the transaction, the executive vice president now directly owns 80,332 shares in the company, valued at $456,285.76. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Jon Callaghan sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, October 2nd. The shares were sold at an average price of $6.89, for a total value of $103,350.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 585,000 shares of company stock valued at $3,400,600. Corporate insiders own 29.10% of the company’s stock.

FIT has been the topic of several research analyst reports. Vetr cut Fitbit from a “strong-buy” rating to a “buy” rating and set a $5.84 target price on the stock. in a research note on Monday, June 26th. Benchmark Co. reaffirmed a “buy” rating on shares of Fitbit in a research note on Thursday, August 3rd. Zacks Investment Research raised Fitbit from a “hold” rating to a “buy” rating and set a $6.50 target price on the stock in a research note on Tuesday, August 8th. Morgan Stanley lowered their target price on Fitbit from $7.00 to $6.50 and set an “equal weight” rating on the stock in a research note on Monday, July 31st. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $6.00 target price (down previously from $7.00) on shares of Fitbit in a research note on Friday, June 23rd. Six analysts have rated the stock with a sell rating, fourteen have assigned a hold rating and seven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $7.45.

Shares of Fitbit, Inc. (NYSE:FIT) traded down 0.590% during midday trading on Wednesday, reaching $6.571. The company’s stock had a trading volume of 852,445 shares. The company has a 50-day moving average price of $6.55 and a 200-day moving average price of $6.55. The firm’s market cap is $1.29 billion. Fitbit, Inc. has a 12 month low of $4.90 and a 12 month high of $14.27.

Fitbit (NYSE:FIT) last posted its quarterly earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.15) by $0.07. The firm had revenue of $353.30 million during the quarter, compared to the consensus estimate of $341.24 million. Fitbit had a negative return on equity of 20.67% and a negative net margin of 13.79%. The business’s revenue was down 39.8% compared to the same quarter last year. During the same period last year, the company earned $0.12 earnings per share. Equities analysts expect that Fitbit, Inc. will post ($0.31) earnings per share 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.

Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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