Fitbit (FIT) Earning Somewhat Positive Media Coverage, Analysis Shows

Media coverage about Fitbit (NYSE:FIT) has been trending somewhat positive on Saturday, Accern Sentiment reports. Accern identifies negative and positive press coverage by analyzing more than 20 million news and blog sources in real time. Accern ranks coverage of companies on a scale of negative one to positive one, with scores closest to one being the most favorable. Fitbit earned a news impact score of 0.24 on Accern’s scale. Accern also gave news articles about the scientific and technical instruments company an impact score of 44.3852641038892 out of 100, meaning that recent press coverage is somewhat unlikely to have an effect on the stock’s share price in the next several days.

These are some of the news articles that may have impacted Accern Sentiment’s scoring:

Fitbit (NYSE:FIT) traded up $0.04 during midday trading on Friday, hitting $5.14. The stock had a trading volume of 8,393,308 shares, compared to its average volume of 5,510,000. The company has a market cap of $1,230.00 and a P/E ratio of -3.12. Fitbit has a 52-week low of $4.90 and a 52-week high of $7.32.

Several equities research analysts have recently commented on the stock. Stifel Nicolaus lowered shares of Fitbit from a “hold” rating to a “sell” rating and set a $6.00 price target for the company. in a research report on Friday, December 15th. Zacks Investment Research lowered shares of Fitbit from a “buy” rating to a “hold” rating in a report on Tuesday, October 17th. Vetr raised shares of Fitbit from a “hold” rating to a “buy” rating and set a $6.67 target price for the company in a report on Thursday, October 19th. ValuEngine lowered shares of Fitbit from a “hold” rating to a “sell” rating in a report on Friday, December 15th. Finally, Cleveland Research reissued a “hold” rating on shares of Fitbit in a report on Thursday, December 21st. Three research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $7.06.

In related news, Director Jon Callaghan sold 15,000 shares of the firm’s stock in a transaction on Friday, December 1st. The stock was sold at an average price of $6.81, for a total value of $102,150.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Andy Missan sold 5,000 shares of the firm’s stock in a transaction on Thursday, February 1st. The stock was sold at an average price of $5.17, for a total value of $25,850.00. Following the completion of the sale, the executive vice president now owns 125,127 shares of the company’s stock, valued at $646,906.59. The disclosure for this sale can be found here. Insiders have sold a total of 1,026,641 shares of company stock valued at $6,244,594 over the last quarter. Corporate insiders own 29.10% of the company’s stock.

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About Fitbit

Fitbit, Inc is a provider of health and fitness devices. The Company’s 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 customized fitness plans and interactive workouts.

Insider Buying and Selling by Quarter for Fitbit (NYSE:FIT)

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