Significant Insider Selling in Shares of Fitbit (FIT) Continues

Wednesday, August 09, 2017 10:15 PM ET

Significant Insider Selling in Shares of Fitbit (FIT) Continues

There was a notable sale of shares of Fitbit by an insider today, as indicated in a form 4 document filed with the SEC. One insider — Steven Joseph Murray, Director — sold 500,000 shares in the company having a market value of approximately $2,865,000. There have been 3 insiders with buy/sell transactions in the past 90 days prior to this filing. These trades have resulted in the acquisition of 25,000 company shares and the disposition of 70,000 company shares over this time period. Adding the most recent activity to this 90-day history indicates insider trades have been net sales of 545,000 shares and have averaged 148,750 shares per transaction over this time period.

Relative to its peers over the last 90 days, insider buy/sell trading at Fitbit is above the 5-company peer group average. Phones & Handheld Devices peer group saw 6 buy/sell trades during this period for an average of 1.2 transactions per company. The number of shares per buy/sell trade for Fitbit insiders was also higher. Within the peer group there were 25,000 shares purchased and 70,000 shares sold with company insiders disposing of 7,500 shares on average.

In order to focus on significant insider buying and selling activity, all trading activity reported to the SEC that involves awards, options, exercise of derivative securities, company buy-backs, taxes, gifts, shares acquired via inheritance and tenders or exchange offers has been eliminated data obtained to compose and write this story.

Using proprietary artificial intelligence methods, UpTick evaluates corporate insider filings reported to the SEC and creates real-time news and analysis to report the most significant insider transactions based on transaction type, size and historical trends.

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