Large Outflow of Money Witnessed in Fitbit

Fitbit (NYSE:FIT) jumped 0.04 points or 0.25% on strong buying and was last priced at $14.14 per share. The shares saw huge fund flow intraday; a massive $0.36 million made their way in through the upticks but an even bigger $1.25 million made their way out through downticks. As per the last observation, the net money flow stood at $(-0.88) million and the up/down ratio was found to be 0.29. The shares have seen a weekly value change of -3.38% .A block trade was recorded in the company shares with a net money flow of $(-0.61) million. The composite value of the funds in upticks was $0 million and the total value of funds in downticks was $0.61. As can be seen from the data, the block transaction had the up/down ratio of 0.


Currently the company Insiders own 37.29% of Fitbit shares according to the proxy statements. In the past twelve weeks, the net percent change held by company insiders has changed by -6.67% . Institutional Investors own 46.83% of Fitbit shares. During last six month period, the net percent change held by insiders has seen a change of -96.05%. On the companys insider trading activities,The officer (EVP, GC, & SECRETARY) of Fitbit Inc, Missan Andy sold 10,000 shares at $14.35 on June 6, 2016. The Insider selling transaction had a total value worth of $143,500. The Insider information was disclosed with the Securities and Exchange Commission in a Form 4 filing.

Fitbit (NYSE:FIT) stock ended Monday session in the red zone in a volatile trading. The stock closed down 0.28 points or 1.99% at $13.82 with 4,968,612 shares getting traded. Post opening the session at $14.06, the shares hit an intraday low of $13.79 and an intraday high of $14.32 and the price was in this range throughout the day. The company has a market cap of $3,012 million and the number of outstanding shares have been calculated to be 217,946,850 shares. The 52-week high of Fitbit (NYSE:FIT) is $51.9 and the 52-week low is $11.91.

Many analysts have stated their opinion on the company shares. Wedbush initiates coverage on Fitbit (NYSE:FIT) In a research note issued to the investors, the brokerage major announces price-target of $18 per share.The shares have been rated Outperform. The rating by the firm was issued on June 9, 2016.

Fitbit, Inc. (Fitbit) is a provider of health and fitness products. The Companys Fitbit 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 fitness plans and interactive workouts. It offers a number of fitness products, including Fitbit Zip, Fitbit One, Fitbit Flex, Fitbit Charge, Fitbit Charge HR, Fitbit Surge and Aria. Its wrist-based and clippable devices automatically track users daily steps, calories burned, distance traveled, floors climbed, and active minutes and display real-time feedback to encourage them to become more active in their daily lives. Fitbit Premium is its membership that serves as an around the clock virtual personal trainer delivered to users through any Web browser. It operates FitStar, a provider of interactive video-based exercise experiences on mobile devices and computers.

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