Global X Management Co. LLC boosted its stake in Fitbit Inc (NYSE:FIT) by 55.6% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 135,921 shares of the scientific and technical instruments company’s stock after buying an additional 48,564 shares during the quarter. Global X Management Co. LLC owned approximately 0.07% of Fitbit worth $776,000 at the end of the most recent reporting period.
Other institutional investors also recently modified their holdings of the company. Alliancebernstein L.P. lifted its stake in Fitbit by 360.5% in the 2nd quarter. Alliancebernstein L.P. now owns 211,700 shares of the scientific and technical instruments company’s stock valued at $1,124,000 after buying an additional 165,733 shares in the last quarter. Acadian Asset Management LLC purchased a new position in Fitbit in the 4th quarter valued at about $3,902,000. Ameriprise Financial Inc. lifted its stake in Fitbit by 421.2% in the 3rd quarter. Ameriprise Financial Inc. now owns 186,793 shares of the scientific and technical instruments company’s stock valued at $1,300,000 after buying an additional 150,956 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in Fitbit by 25.2% in the 3rd quarter. Allianz Asset Management GmbH now owns 5,440,776 shares of the scientific and technical instruments company’s stock valued at $37,868,000 after buying an additional 1,096,000 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its stake in Fitbit by 34.1% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,625,664 shares of the scientific and technical instruments company’s stock valued at $11,234,000 after buying an additional 413,157 shares in the last quarter. 62.53% of the stock is currently owned by hedge funds and other institutional investors.
A number of brokerages recently weighed in on FIT. Stifel Nicolaus raised shares of Fitbit from a “sell” rating to a “hold” rating and decreased their price target for the company from $6.00 to $5.50 in a research note on Wednesday, January 31st. Cleveland Research reaffirmed a “hold” rating on shares of Fitbit in a research note on Thursday, December 21st. ValuEngine lowered shares of Fitbit from a “hold” rating to a “sell” rating in a research note on Friday, December 15th. Morgan Stanley set a $6.00 price target on shares of Fitbit and gave the company a “hold” rating in a research note on Friday, January 5th. Finally, Zacks Investment Research raised shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.75 price target on the stock in a research note on Monday, October 30th. Three research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average target price of $7.06.
In other Fitbit news, Director Jon Callaghan sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 2nd. The shares were sold at an average price of $5.91, for a total value of $88,650.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Andy Missan sold 5,000 shares of Fitbit stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $6.81, for a total transaction of $34,050.00. Following the sale, the executive vice president now directly owns 109,475 shares in the company, valued at approximately $745,524.75. The disclosure for this sale can be found here. Insiders sold a total of 60,000 shares of company stock worth $357,750 over the last three months. Corporate insiders own 29.10% of the company’s stock.
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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