GoPro Inc. (GPRO) Trading Down 6.9%
GoPro Inc. (NASDAQ:GPRO) traded down 6.9% during mid-day trading on Tuesday . The stock traded as low as $14.25 and last traded at $14.25, with a volume of 12,881,606 shares traded. The stock had previously closed at $15.31.
Several research analysts have recently commented on GPRO shares. Barclays PLC reaffirmed an “equal weight” rating and set a $12.00 target price on shares of GoPro in a report on Thursday, July 28th. Dougherty & Co reaffirmed a “hold” rating on shares of GoPro in a report on Tuesday, May 24th. Longbow Research cut shares of GoPro from a “buy” rating to a “hold” rating in a report on Wednesday, June 15th. Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $6.50 target price on shares of GoPro in a report on Wednesday, June 15th. Finally, Wedbush raised their target price on shares of GoPro from $13.00 to $14.50 and gave the stock an “outperform” rating in a report on Thursday, July 28th. Two research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company. GoPro presently has a consensus rating of “Hold” and a consensus price target of $15.49.
The firm’s market cap is $1.99 billion. The company has a 50-day moving average price of $14.31 and a 200 day moving average price of $12.17.
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GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Wednesday, July 27th. The company reported ($0.52) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.58) by $0.06. The company had revenue of $220.80 million for the quarter, compared to analysts’ expectations of $194.37 million. GoPro had a negative net margin of 17.31% and a negative return on equity of 27.52%. GoPro’s revenue was down 47.4% compared to the same quarter last year. During the same period in the prior year, the company posted $0.35 EPS. Equities research analysts forecast that GoPro Inc. will post ($1.06) EPS for the current year.
In related news, Director Edward A. Gilhuly sold 700,000 shares of the company’s stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $15.12, for a total transaction of $10,584,000.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, President Anthony John Bates sold 9,704 shares of the company’s stock in a transaction that occurred on Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the sale, the president now owns 398,137 shares in the company, valued at $5,637,619.92. The disclosure for this sale can be found here. Corporate insiders own 28.69% of the company’s stock.
Several hedge funds have recently made changes to their positions in GPRO. Advisor Group Inc. acquired a new stake in shares of GoPro during the second quarter worth approximately $100,000. BlueMountain Capital Management LLC purchased a new stake in GoPro during the first quarter valued at about $117,000. Marathon Trading Investment Management LLC boosted its stake in GoPro by 114.1% in the first quarter. Marathon Trading Investment Management LLC now owns 10,000 shares of the company’s stock valued at $120,000 after buying an additional 80,800 shares in the last quarter. Emerald Acquisition Ltd. purchased a new stake in GoPro during the second quarter valued at about $111,000. Finally, Penserra Capital Management LLC boosted its stake in GoPro by 42.9% in the second quarter. Penserra Capital Management LLC now owns 10,533 shares of the company’s stock valued at $114,000 after buying an additional 3,164 shares in the last quarter. Institutional investors own 28.46% of the company’s stock.
GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.
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