Axa Has $758,000 Stake in Fitbit Inc (FIT)

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Axa grew its position in Fitbit Inc (NYSE:FIT) by 146.0% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 141,700 shares of the scientific and technical instruments company’s stock after purchasing an additional 84,100 shares during the quarter. Axa’s holdings in Fitbit were worth $758,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. DNB Asset Management AS raised its holdings in shares of Fitbit by 24.4% in the 3rd quarter. DNB Asset Management AS now owns 21,302,221 shares of the scientific and technical instruments company’s stock valued at $113,967,000 after purchasing an additional 4,183,045 shares in the last quarter. Trexquant Investment LP acquired a new stake in shares of Fitbit in the 2nd quarter valued at $1,384,000. Schwab Charles Investment Management Inc. raised its holdings in shares of Fitbit by 26.1% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,160,629 shares of the scientific and technical instruments company’s stock valued at $7,579,000 after purchasing an additional 240,290 shares in the last quarter. Swiss National Bank raised its holdings in shares of Fitbit by 11.2% in the 2nd quarter. Swiss National Bank now owns 339,800 shares of the scientific and technical instruments company’s stock valued at $2,219,000 after purchasing an additional 34,300 shares in the last quarter. Finally, MetLife Investment Advisors LLC raised its holdings in shares of Fitbit by 14.5% in the 2nd quarter. MetLife Investment Advisors LLC now owns 95,538 shares of the scientific and technical instruments company’s stock valued at $624,000 after purchasing an additional 12,109 shares in the last quarter. Institutional investors and hedge funds own 63.34% of the company’s stock.

Shares of NYSE:FIT opened at $4.98 on Friday. Fitbit Inc has a 12 month low of $4.23 and a 12 month high of $7.79. The firm has a market cap of $1.13 billion, a P/E ratio of -7.66 and a beta of 1.71.

Fitbit (NYSE:FIT) last announced its quarterly earnings results on Wednesday, October 31st. The scientific and technical instruments company reported $0.04 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.01) by $0.05. Fitbit had a negative net margin of 16.32% and a negative return on equity of 24.69%. The firm had revenue of $393.60 million for the quarter, compared to analyst estimates of $381.25 million. During the same period last year, the business earned ($0.01) EPS. Fitbit’s revenue for the quarter was up .3% compared to the same quarter last year. Analysts predict that Fitbit Inc will post -0.64 earnings per share for the current fiscal year.

FIT has been the topic of several research analyst reports. ValuEngine upgraded shares of Fitbit from a “hold” rating to a “buy” rating in a research note on Monday, August 20th. Zacks Investment Research reiterated a “buy” rating and set a $6.50 price target on shares of Fitbit in a research note on Tuesday, November 13th. William Blair reiterated a “market perform” rating on shares of Fitbit in a research note on Friday, September 21st. MED upgraded shares of Fitbit from a “neutral” rating to an “outperform” rating and set a $6.50 price target on the stock in a research note on Friday, October 12th. Finally, Wedbush upgraded shares of Fitbit from a “neutral” rating to an “outperform” rating and set a $7.00 price target on the stock in a research note on Friday, October 12th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and four have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $5.90.

In other Fitbit news, Director Steven Joseph Murray sold 1,000,000 shares of Fitbit stock in a transaction on Tuesday, November 6th. The shares were sold at an average price of $6.19, for a total value of $6,190,000.00. Following the transaction, the director now directly owns 42,332 shares in the company, valued at $262,035.08. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Andy Missan sold 7,500 shares of Fitbit stock in a transaction on Wednesday, October 10th. The shares were sold at an average price of $4.76, for a total transaction of $35,700.00. Following the completion of the transaction, the executive vice president now owns 176,739 shares in the company, valued at $841,277.64. The disclosure for this sale can be found here. Insiders have sold a total of 1,025,034 shares of company stock worth $6,327,741 over the last quarter. 19.84% of the stock is owned by company insiders.

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Fitbit Company Profile

Fitbit, Inc, a technology company, provides health solutions in the United States and internationally. The company offers a line of devices, including Fitbit Surge, Fitbit Blaze, Fitbit Charge 2, Alta HR, Alta, Fitbit Flex 2, Fitbit One, and Fitbit Zip activity trackers; Fitbit Ionic smartwatches; Fitbit Aria 2 Wi-Fi smart scales; and a range of accessories, such as bands and frames for its devices, as well as Fitbit Flyer, a wireless headphone designed for fitness.

See Also: Why investors pay attention to retained earnings

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Institutional Ownership by Quarter for Fitbit (NYSE:FIT)

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