Principal Financial Group Inc. acquired a new position in Fitbit, Inc. (NYSE:FIT) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor acquired 21,486 shares of the scientific and technical instruments company’s stock, valued at approximately $114,000.

A number of other institutional investors have also made changes to their positions in FIT. Russell Investments Group Ltd. lifted its stake in Fitbit by 6,579.5% in the 1st quarter. Russell Investments Group Ltd. now owns 104,601 shares of the scientific and technical instruments company’s stock worth $621,000 after acquiring an additional 103,035 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Fitbit by 6.0% in the 1st quarter. Bank of New York Mellon Corp now owns 632,493 shares of the scientific and technical instruments company’s stock worth $3,744,000 after acquiring an additional 35,558 shares in the last quarter. Swiss National Bank lifted its stake in Fitbit by 10.3% in the 1st quarter. Swiss National Bank now owns 238,200 shares of the scientific and technical instruments company’s stock worth $1,410,000 after acquiring an additional 22,300 shares in the last quarter. UBS Asset Management Americas Inc. lifted its stake in Fitbit by 5.8% in the 1st quarter. UBS Asset Management Americas Inc. now owns 86,177 shares of the scientific and technical instruments company’s stock worth $510,000 after acquiring an additional 4,732 shares in the last quarter. Finally, Parametric Portfolio Associates LLC lifted its stake in Fitbit by 88.6% in the 1st quarter. Parametric Portfolio Associates LLC now owns 72,680 shares of the scientific and technical instruments company’s stock worth $430,000 after acquiring an additional 34,143 shares in the last quarter. 56.04% of the stock is owned by hedge funds and other institutional investors.

In other Fitbit news, Director Steven Joseph Murray sold 500,000 shares of the company’s stock in a transaction that occurred on Monday, August 7th. The stock was sold at an average price of $5.73, for a total value of $2,865,000.00. Following the sale, the director now owns 11,442 shares in the company, valued at $65,562.66. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jon Callaghan sold 15,000 shares of the company’s stock in a transaction that occurred on Tuesday, August 1st. The shares were sold at an average price of $5.09, for a total value of $76,350.00. The disclosure for this sale can be found here. Insiders sold 585,000 shares of company stock worth $3,400,600 in the last 90 days. Corporate insiders own 29.10% of the company’s stock.

Shares of Fitbit, Inc. (NYSE FIT) opened at 6.35 on Thursday. Fitbit, Inc. has a 12-month low of $4.90 and a 12-month high of $14.27. The firm’s market cap is $1.48 billion. The firm has a 50-day moving average price of $6.55 and a 200-day moving average price of $6.55.

Fitbit (NYSE:FIT) last released its quarterly earnings data on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.15) by $0.07. The firm had revenue of $353.30 million for the quarter, compared to analyst estimates 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 for the quarter was down 39.8% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.12 earnings per share. Equities research analysts anticipate that Fitbit, Inc. will post ($0.31) EPS for the current year.

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Several equities research analysts recently issued reports on FIT shares. Longbow Research reissued a “neutral” rating on shares of Fitbit in a research note on Wednesday, June 21st. Stifel Nicolaus reaffirmed a “hold” rating and set a $6.00 price target (down from $7.00) on shares of Fitbit in a research note on Friday, June 23rd. Oppenheimer Holdings, Inc. reaffirmed an “outperform” rating and set a $8.00 price target on shares of Fitbit in a research note on Monday, June 26th. Vetr downgraded Fitbit from a “strong-buy” rating to a “buy” rating and set a $5.84 price target for the company. in a research note on Monday, June 26th. Finally, BidaskClub downgraded Fitbit from a “sell” rating to a “strong sell” rating in a research note on Wednesday, July 12th. Six investment analysts have rated the stock with a sell rating, fourteen have given a hold rating and seven have given a buy rating to the company’s stock. Fitbit has an average rating of “Hold” and an average target price of $7.45.

Fitbit Profile

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.

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Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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