Commerzbank Aktiengesellschaft FI Sells 61,187 Shares of Fitbit Inc (FIT)

Commerzbank Aktiengesellschaft FI cut its stake in shares of Fitbit Inc (NYSE:FIT) by 14.7% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 355,274 shares of the scientific and technical instruments company’s stock after selling 61,187 shares during the quarter. Commerzbank Aktiengesellschaft FI owned approximately 0.17% of Fitbit worth $2,473,000 at the end of the most recent reporting period.

Several other large investors also recently made changes to their positions in the stock. Principal Financial Group Inc. purchased a new position in Fitbit in the 2nd quarter worth approximately $114,000. BB&T Securities LLC purchased a new position in Fitbit in the 3rd quarter worth approximately $116,000. Amalgamated Bank lifted its holdings in Fitbit by 20.1% in the 2nd quarter. Amalgamated Bank now owns 22,075 shares of the scientific and technical instruments company’s stock worth $117,000 after purchasing an additional 3,698 shares in the last quarter. Fortaleza Asset Management Inc. purchased a new position in Fitbit in the 3rd quarter worth approximately $154,000. Finally, Capital Fund Management S.A. purchased a new position in Fitbit in the 2nd quarter worth approximately $157,000. Institutional investors own 58.36% of the company’s stock.

In related news, EVP Andy Missan sold 5,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $6.89, for a total transaction of $34,450.00. Following the sale, the executive vice president now owns 105,133 shares in the company, valued at approximately $724,366.37. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Jon Callaghan sold 15,000 shares of the stock in a transaction on Wednesday, November 1st. The shares were sold at an average price of $6.29, for a total value of $94,350.00. The disclosure for this sale can be found here. Insiders have sold a total of 1,051,841 shares of company stock worth $6,462,854 over the last ninety days. Insiders own 29.10% of the company’s stock.

A number of research firms recently commented on FIT. Vetr cut Fitbit from a “hold” rating to a “sell” rating and set a $6.67 price target on the stock. in a report on Thursday, September 28th. Deutsche Bank reissued a “hold” rating and issued a $5.50 price target on shares of Fitbit in a report on Wednesday, August 9th. Zacks Investment Research raised Fitbit from a “hold” rating to a “buy” rating and set a $7.25 price target on the stock in a report on Tuesday, September 26th. Dougherty & Co reissued a “neutral” rating on shares of Fitbit in a report on Wednesday, September 27th. Finally, Cowen set a $6.00 price target on Fitbit and gave the stock a “hold” rating in a report on Monday, October 23rd. Four analysts have rated the stock with a sell rating, eleven have assigned a hold rating and eight have assigned a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $7.11.

Shares of Fitbit Inc (FIT) traded down $0.03 on Wednesday, hitting $6.66. The stock had a trading volume of 3,763,800 shares, compared to its average volume of 7,625,067. Fitbit Inc has a twelve month low of $4.90 and a twelve month high of $8.40.

Fitbit (NYSE:FIT) last issued its quarterly earnings data on Wednesday, November 1st. The scientific and technical instruments company reported ($0.01) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.04) by $0.03. The business had revenue of $392.50 million for the quarter, compared to analysts’ expectations of $391.70 million. Fitbit had a negative return on equity of 28.33% and a negative net margin of 23.35%. The company’s revenue for the quarter was down 22.1% on a year-over-year basis. During the same period in the prior year, the firm earned $0.19 EPS. equities research analysts predict that Fitbit Inc will post -0.49 earnings per share for the current fiscal 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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