Pioneer Investment Management Inc. Has $3.839 Million Stake in Fitbit Inc (FIT)

(NYSE:FIT) in a report published on Wednesday.

FIT has been the subject of a number of other reports.

Recent trading patterns in the stock of Fitbit, Inc. Finally, ValuEngine upgraded shares of Fitbit from a strong sell rating to a sell rating in a report on Friday, September 15th. The stock exchanged hands 5.36 Million shares versus average trading capacity of 6.92 Million shares, yielding a market cap of $1.49 Billion. 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, Inc. (NYSE:FIT) in the last month has increased +10.32%. Following the completion of the transaction, the director now owns 11,442 shares of the company's stock, valued at $65,562.66.

Fitbit Inc (NYSE:FIT) 52-week high price stands at $15.05 and low price stands at $4.90, its price distance from 52-week high is -57.08% while its distance from 52-week low price is 31.84%. The average analysts gave this company a mean recommendation of 1.80.

Fitbit (NYSE:FIT) last posted its earnings results on Wednesday, May 3rd.

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For the current quarter, 16 analysts are projecting a mean EPS of $-0.04/share. The analysts estimated sales for the higher end at 650.33 million and lower end at 503.5 million while the year ago reported sale was 1105.58 million. Net profit margin of the company was recorded at -13.8 percent, operating profit margin was -17.1 percent, while gross profit margin stands at 36.7 percent. The company's revenue for the quarter was down 39.8% compared to the same quarter past year. During the same period previous year, the company posted $0.12 EPS.

Analysts believe that the company has the potential to earn average revenue of $392.05 Million for the current quarter.

TRADEMARK VIOLATION WARNING: "JPMorgan Chase & Co". If you are accessing this story on another website, it was illegally stolen and republished in violation of United States and worldwide copyright & trademark laws. Among holders that decreased their positions, 48 sold out of the stock Fitbit, Inc. The shares were sold at an average price of $5.73, for a total value of $2,865,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The stock grabbed 33 new institutional investments totaling 9,022,115 shares while 48 institutional investors sold out their entire positions totaling 6,269,589 shares. They now have a United States dollars 5.5 price target on the stock. The jump in the company's share price can mostly be attributed to optimism surrounding the unveiling and launch of its Ionic smartwatch line. The disclosure for this sale can be found here. The stock hit its 52-week high on 10/07/16, and 52-week low on 06/22/17. Outstanding shares refer to a company's stock presently held by all its shareholders, counting share blocks held by institutional shareholders and restricted shares owned by the company's officers and insiders.

Institutional investors now hold around $819 million or 62.5% in FIT stock. Russell Investments Group Ltd. now owns 104,601 shares of the scientific and technical instruments company's stock worth $621,000 after buying an additional 103,035 shares during the period.

Fitbit Inc. (FIT) has a Return on Assets of -14.7 percent, Return on Investment of -10.6 percent and a Return on Equity of -23.8 percent. 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. Renaissance Technologies LLC increased its stake in Fitbit by 193.6% in the second quarter. A statistical measure of the dispersion of returns (volatility) for FIT producing salvation in Investors mouth, it has week volatility of 3.17% and for the month booked as 4.61%. Bank of New York Mellon Corp increased its position in Fitbit by 6.0% in the first quarter.

The company's stock is now moving with a +ve distance from the 200 day SMA of approximately 8.92%, and has a solid year to date (YTD) performance of -10.93% which means that the stock is constantly adding to its value from the previous fiscal year end price.

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