Shares of Fitbit (FIT) Drops by -2.08%

Fitbit (FIT) has risen sharply, recording gains of 2.49% in the past 4 weeks. However, the stock has corrected -2.08% in the past 1 week, providing a good buying opportunity on dips. Fitbit (FIT) : During the past 4 weeks, traders have been relatively bearish on Fitbit (FIT), hence the stock is down -1.8% when compared to the S&P 500 during the same period. However, in the past 1 week, the selling of the stock is down by -3.53% relative to the S&P 500. The stock has recorded a 20-day Moving Average of 2.11% and the 50-Day Moving Average is 3.71%.

Fitbit (NYSE:FIT): The stock opened at $13.76 on Friday but the bulls could not build on the opening and the stock topped out at $13.77 for the day. The stock traded down to $13.10 during the day, due to lack of any buying support eventually closed down at $13.15 with a loss of -4.50% for the day. The stock had closed at $13.77 on the previous day. The total traded volume was 7,323,079 shares.


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 46.87% of Fitbit shares. During last six month period, the net percent change held by insiders has seen a change of -96.05%. In a related news, The Securities and Exchange Commission has divulged that Missan Andy, officer (EVP, GC, & SECRETARY) of Fitbit Inc, had unloaded 10,000 shares at an average price of $12.35 in a transaction dated on July 6, 2016. The total value of the transaction was worth $123,500.

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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