The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The company reported second-quarter 2017 adjusted loss of 18 cents per share, which was narrower than the Zacks Consensus Estimate. Finally, UBS Asset Management Americas Inc. lifted its stake in Fitbit by 5.8% in the first quarter. DnB Asset Management AS now owns 16,352,508 shares of the scientific and technical instruments company's stock worth $86,832,000 after acquiring an additional 5,989,005 shares during the last quarter. Oppenheimer & Co. Inc. lifted its stake in Fitbit by 11.6% in the second quarter. HighTower Advisors LLC lifted its stake in Fitbit by 5.6% in the second quarter. JPMorgan Chase & Co. now owns 1,044,686 shares of the scientific and technical instruments company's stock worth $6,184,000 after acquiring an additional 874,986 shares during the last quarter. Institutional investors own 56.04% of the company's stock. Zacks Investment Research now has $7.00 price objective on the scientific and technical instruments company's stock. Also, Director Steven Joseph Murray sold 500,000 shares of the firm's stock in a transaction on Monday, August 7th. The shares were sold at an average price of $5.91, for a total value of $29,550.00. 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 during the last quarter. The disclosure for this sale can be found here. The stock exchanged hands 7.98 Million shares versus average trading capacity of 7.07 Million shares, yielding a market cap of $1.52 Billion. (FIT) now has a value of $6.24 while the company's 52 week low is at $4.90, the shares dropped to the 52 week low on 06/22/17. FIT's latest closing price was 3.02% away from the average-price of 200 days while it maintained a distance of 8.86% from the 50 Day Moving Average and 3.33% away compared to its SMA 20.
Market Capitalization can be thought of as the overall price to buy the company.
Fitbit (NYSE:FIT) last announced its earnings results on Wednesday, August 2nd. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.15) by $0.07. Fitbit had a negative return on equity of 20.67% and a negative net margin of 13.79%. The firm had revenue of $353.30 million for the quarter, compared to the consensus estimate of $341.24 million. During the same period previous year, the business earned $0.12 EPS. The firm's quarterly revenue was down 39.8% on a year-over-year basis. ValuEngine lifted shares of Fitbit from a "strong sell" recommendation to a "sell" recommendation in a study on Fri, Sep 15th. crowd sourced stock rating company Vetr lowered the stock of Fitbit from a "buy" recommendation to a "hold" recommendation and fixed a $6.72 price objective on the company shares.in a note on Wed, Sep 13th.
Several research analysts recently weighed in on FIT shares. Analysts giving shares a rating of 1 or 2 would be indicating a Buy.
In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the business's stock in a transaction on Monday, July 3rd. The legal version of this story can be viewed at https://weekherald.com/2017/09/20/quinn-opportunity-partners-llc-acquires-75100-shares-of-fitbit-inc-fit.html. Stifel Nicolaus set a $6.00 target price on shares of Fitbit and gave the company a hold rating in a research note on Wednesday, August 2nd. (NYSE:FIT) from a sell rating to a hold rating in a research note issued to investors on Tuesday morning. Six investment analysts have rated the stock with a sell rating, fifteen have assigned a hold rating and six have assigned a buy rating to the stock. Deutsche Bank AG reduced their price objective on Fitbit from $6.50 to $5.50 and set a hold rating for the company in a research note on Thursday, August 3rd.
ILLEGAL ACTIVITY NOTICE: "Commerzbank Aktiengesellschaft FI Sells 362,562 Shares of Fitbit, Inc. (FIT) Upgraded to Buy at Zacks Investment Research" was originally published by TrueBlueTribune and is owned by of TrueBlueTribune.