Shares of Fitbit, Inc. (FIT) Sees Large Inflow of Net Money Flow

Fitbit, Inc. (FIT) traded with a cut of -0.1 points or -1.58% at $5.92 per share. As per the last available information, the stock aggregated $11.94 million in upticks and $7.43 million in downticks, keeping the net money flow capped at $4.51 million. The up/down ratio was found to be 1.61. For the week, the shares has seen a change of -17.96% in the share price.A block trade of $4.22 million in upticks and $1.33 million in downticks also took place during the day. The up/down ratio for the block stood at 3.16. The net money flow for this transaction was $2.89 million.Block trades are executed by Investment Banking firms or Wealth Managers shifting positions or Day traders taking advantage of trading signals.

Fitbit, Inc. has lost 18.63% in the last five trading days and dropped 18.85% in the last 4 weeks. Fitbit, Inc. has dropped 55.2% during the last 3-month period . Year-to-Date the stock performance stands at -18.85%. Fitbit, Inc. (NYSE:FIT) witnessed a decline in the market cap on Wednesday as its shares dropped 1.16% or 0.07 points. After the session commenced at $5.98, the stock reached the higher end at $6.01 while it hit a low of $5.81. With the volume soaring to 11,336,782 shares, the last trade was called at $5.94. The company has a 52-week high of $18.85. The company has a market cap of $1,329 million and there are 223,748,890 shares in outstanding. The 52-week low of the share price is $5.81.

Company has reported several Insider transactions to the SEC, on Dec 6, 2016, Jon Callaghan (director 10% owner) sold 860,000 shares at 8.18 per share price.On Nov 8, 2016, Philip Douglas Black (10% owner) sold 50,000 shares at 8.73 per share price.On Oct 11, 2016, Andy Missan (EVP, GC, & SECRETARY) sold 10,000 shares at 14.60 per share price.

Fitbit Inc Last issued its quarterly earnings results on Nov 2, 2016. The company reported $0.19 EPS for the quarter. Analyst had a consensus estimate of $0.19. The company had revenue of $503.80 million for the quarter, compared to analysts expectations of $506.60 million. The companys revenue was up 23.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.24 EPS.

Several Stock Research Financial Advisors from Investment Banking firms have advised their client and investors on the stock.Fitbit Inc was Downgraded by Citigroup on Jan 31, 2017 to Sell, Price Target of the shares are set at $5.Fitbit Inc was Reiterated by Mizuho on Jan 30, 2017 to Neutral, Lowers Price Target to $ 6.50 from a previous price target of $9 .Fitbit Inc was Downgraded by Deutsche Bank on Dec 8, 2016 to Hold, Lowers Price Target to $ 9 from a previous price target of $18 .Fitbit Inc was Upgraded by Pacific Crest to Sector Weight on Nov 16, 2016. Fitbit Inc was Downgraded by Barclays on Nov 4, 2016 to Equal Weight, Lowers Price Target to $ 10 from a previous price target of $24 .

Fitbit Inc. manufactures and markets wearable fitness-tracking devices. The Companys product consists of Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Charge HR, Fitbit Surge and Aria. It also offers accessories which include bands and clips, charging cables and Fitbit apparel. Fitbit Inc. is headquartered in San Francisco, California.


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