Financial Watchlist of Fitbit, Inc. (NYSE:FIT)

Posted October 09, 2017

The correct version of this piece can be read at https://www.equitiesfocus.com/2017/10/04/jpmorgan-chase-co-has-6-44-million-stake-in-fitbit-inc-fit.html.

In other Fitbit news, EVP Andy Missan sold 5,000 shares of the firm's stock in a transaction dated Friday, August 4th.

Fitbit Inc. (FIT)'s RSI (Relative strength index) is at 52.54, its ATR (Average True Range) value is 0.28, while its Beta factor was calculated at 0. Following the transaction, the executive vice president now owns 105,000 shares in the company, valued at $620,550. The sale 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 firm's stock in a transaction that occurred on Tuesday, August 1st. BNP Paribas Arbitrage SA now owns 446,630 shares of the scientific and technical instruments company's stock valued at $2,372,000 after purchasing an additional 60,346 shares during the period. The disclosure for this sale can be found here.

By taking a look at the stock's current statistics it can gauged that the stock candle is BEARISH with LOW volatility.

Other equities research analysts also recently issued research reports about the company. The stock is now moving below its 20-Day Simple Moving Average of -0.02% with a 50-Day Simple Moving Average of 9.51 percent. Oppenheimer Holdings, Inc. reissued an "outperform" rating and issued a $8.00 price objective on shares of Fitbit in a research note on Wednesday. Vetr upgraded Fitbit from a sell rating to a hold rating and set a $6.47 target price for the company in a report on Tuesday, September 19th. Fitbit had 78 analyst reports since August 6, 2015 according to SRatingsIntel. The stock was trading at a distance of -55.84% from its 52-week highs and stands 35.92% away from its 52-week lows. A low number in the 1-2 range typically indicates a Buy, 3 represents a Hold and 4-5 represents a consensus Sell rating. Fitbit has a consensus rating of "Hold" and a consensus target price of $7.45.

Large Internet-Beaming Balloons Might Be Headed To Puerto Rico
The company had previously conducted connectivity tests in Australia, New Zealand and several South American countries. It partners with local telecommunications companies to transmit high-speed internet from high-altitude balloons.

The market capitalization (Stock Price Multiply by Total Number of Outstanding Shares) for the company is reported at $1.54B. As of today, the company has a SMA200 (200-day simple moving average) of 8.92 Percent.

Fitbit, Inc. (FIT) has earnings decline of -162.30% yoy. The scientific and technical instruments company reported ($0.08) earnings per share (EPS) for the quarter, topping the Zacks' consensus estimate of ($0.15) by $0.07. Fitbit had a return on equity of 11.94% and a net margin of 4.67%. The business had revenue of $353.30 million during the quarter, compared to analyst estimates of $341.24 million. The company's quarterly revenue was down 39.8% on a year-over-year basis. Equities analysts predict that Fitbit, Inc. will post ($0.31) earnings per share for the current fiscal year.

Institutional investors have recently added to or reduced their stakes in the stock. Finally, BNP Paribas Arbitrage SA grew its holdings in Fitbit by 15.6% during the second quarter. The institutional investor owned 648,542 shares of the scientific and technical instruments company's stock after selling 5,328 shares during the period. 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 during the last quarter. UBS Asset Management Americas Inc. increased its position in Fitbit by 5.8% in the first quarter. Analysts' recommendations or reports can influence the price of a company's stock-especially when the recommendations are widely disseminated through television appearances or through other electronic and print media. Principal Financial Group Inc. acquired a new position in Fitbit during the second quarter worth $114,000. Parametric Portfolio Associates LLC now owns 72,680 shares of the scientific and technical instruments company's stock worth $430,000 after buying an additional 34,143 shares during the period.

Fitbit Inc. (FIT) has an Analysts' Mean Recommendation of 2.9.

Fitbit unveiled the Ionic smartwatch on August 28, highlighting features including a four-day battery life, new health-tracking technologies, and contactless payments.