Q4 2018 EPS Estimates for Fitbit Inc (FIT) Decreased by William Blair

FIT is hitting $6.01 during the last trading session, after increased 0.92%.Fitbit, Inc.is downtrending after having declined 11.66% since November 2, 2017. Institutional investors and hedge funds own 62.18% of the company's stock. Northern Trust Corp owned 1.10% of Fitbit worth $15,343,000 as of its most recent SEC filing. GWM Advisors LLC purchased a new stake in shares of Fitbit during the 3rd quarter valued at about $144,000. Commerzbank Aktiengesellschaft FI now owns 358,767 shares of the scientific and technical instruments company's stock worth $2,343,000 after buying an additional 9,778 shares in the last 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.

Large investors have recently bought and sold shares of the company.

FIT has been the topic of a number of analyst reports. Stifel Nicolaus increased their price objective on Fitbit from $5.50 to $6.00 and gave the company a "hold" rating in a research note on Thursday, August 2nd. Finally, William Blair reaffirmed a "market perform" rating on shares of Fitbit in a research note on Friday, September 21st. The stock rating was maintained by Wedbush with "Hold" on Thursday, June 7. Finally, Zacks Investment Research lowered shares of Fitbit from a hold rating to a sell rating in a research report on Monday, August 6th. Four research analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company. Its 50 day simple moving average (SMA 50) price is $5.38 and its 200-day simple moving average (SMA 200) price is $5.58. The stock rating was maintained by Wedbush with "Neutral" on Thursday, August 2. Fitbit has a 12 month low of $4.23 and a 12 month high of $7.79.

Fitbit (NYSE:FIT) posted its earnings results on Wednesday. The scientific and technical instruments company reported $0.04 earnings per share (EPS) for the quarter, beating the Thomson Reuters' consensus estimate of ($0.01) by $0.05. Similarly, the company has Return on Assets of -25, Return on Equity of -46.2 and Return on Investment of -28.9. However the company reported $-0.02 earnings per share for the same quarter during past year.

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EPS in next five year years is expected to touch 1% while EPS growth in past 5 year was 0% along with sales growth of 0.841% in the last five years. Fitbit updated its Q4 2018 guidance to $0.07 EPS and its FY 2018 guidance to EPS.

In other Fitbit news, Director Steven Joseph Murray sold 1,000,000 shares of the business's stock in a transaction dated Monday, August 27th. Following the completion of the transaction, the director now owns 42,332 shares of the company's stock, valued at $263,305.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Missan Andy sold 7,500 shares for $169,239 in transaction occurred on 2018/10/10. The shares were sold at an average price of $5.94, for a total value of $44,550.00. Following the completion of the transaction, the executive vice president now directly owns 154,381 shares of the company's stock, valued at approximately $838,288.83. The disclosure for this sale can be found here. Trading activity significantly improved as the volume at ready counter increased to 16,672,700 shares versus 8,947,035 in average daily trading volume over the past 20 days.

Many value shareholders look for stocks with a high percentage of insider ownership, under the theory that when administration is shareholders, they will act in its own self-interest, and create shareholder value in the long-term.

Fitbit, Inc. designs and sells connected health and fitness tracking devices.The firm is valued at $1.47 billion. It also provides Fitbit Alta, a customizable wristband that offers call, text, and calendar notifications when paired with the userÂ's phone and SmartTrack automatic exercise recognition; Fitbit Charge 2, a wireless heart rate and activity wristband; Fitbit Blaze, a smart fitness watch that provides multi-sport functionality, tracks outdoor cycling activity, and run cues; and Fitbit Surge, a fitness watch that features a Global Positioning System watch, heart rate tracker, activity tracker, and smartwatch.

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