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Shares of GoPro (NASDAQ:GPRO) traded down 10.3% during trading on Wednesday following insider selling activity, AR Network reports. The company traded as low as $41.53 and last traded at $43.75, with a volume of 22,734,674 shares changing hands. The stock had previously closed at $48.80.

Specifically, CEO Nicholas Woodman sold 5,092,374 shares of the stock on the open market in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $22.56, for a total transaction of $114,883,957.44. The transaction was disclosed in a legal filing with the SEC, which is available at this link.

Separately, analysts at Dougherty & Co initiated coverage on shares of GoPro in a research note on Wednesday, June 25th. They set a “buy” rating and a $28.00 price target on the stock.

The stock’s 50-day moving average is $39.11 and its 200-day moving average is $39.11. The company has a market cap of $5.373 billion and a P/E ratio of 123.54.

GoPro, Inc develops hardware and software solutions to alleviate consumer pain points associated with capturing, managing, sharing and enjoying engaging content.

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