Investors Purchase Large Volume of GoPro Call Options (GPRO)
GoPro, Inc. (NASDAQ:GPRO) was the recipient of unusually large options trading on Tuesday. Stock investors purchased 1,722 call options on the company. This is an increase of 531% compared to the typical volume of 273 call options.
GPRO has been the subject of a number of research analyst reports. Citigroup Inc. initiated coverage on GoPro in a research report on Friday, March 3rd. They set a “sell” rating and a $8.00 target price for the company. Goldman Sachs Group, Inc. (The) lowered GoPro from a “neutral” rating to a “sell” rating and decreased their target price for the company from $8.25 to $6.00 in a research report on Monday, March 6th. Dougherty & Co reaffirmed a “sell” rating and set a $5.00 target price on shares of GoPro in a research report on Tuesday, March 7th. Cowen and Company reaffirmed a “market perform” rating and set a $8.50 target price on shares of GoPro in a research report on Thursday, March 16th. Finally, Stifel Nicolaus reaffirmed a “hold” rating and set a $9.00 target price (down from $10.00) on shares of GoPro in a research report on Thursday, March 16th. Ten equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company’s stock. GoPro currently has an average rating of “Hold” and a consensus price target of $10.14.
Shares of GoPro (NASDAQ GPRO) traded up 2.137% on Tuesday, reaching $8.365. The company had a trading volume of 1,367,976 shares. The firm’s market capitalization is $1.20 billion. GoPro has a 12 month low of $7.15 and a 12 month high of $17.68. The firm’s 50 day moving average is $8.40 and its 200 day moving average is $8.84.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, April 27th. The company reported ($0.53) earnings per share for the quarter, beating the Zacks’ consensus estimate of ($0.54) by $0.01. GoPro had a negative return on equity of 49.75% and a negative net margin of 34.63%. The company had revenue of $218.61 million for the quarter, compared to analysts’ expectations of $206.23 million. During the same period last year, the firm earned ($0.63) earnings per share. GoPro’s quarterly revenue was up 19.1% on a year-over-year basis. On average, equities research analysts expect that GoPro will post ($0.15) earnings per share for the current fiscal year.
In related news, Director Anthony John Bates sold 41,076 shares of the firm’s stock in a transaction that occurred on Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total transaction of $348,735.24. Following the completion of the sale, the director now directly owns 142,011 shares of the company’s stock, valued at approximately $1,205,673.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 28.69% of the stock is currently owned by company insiders.
A number of hedge funds have recently bought and sold shares of GPRO. Vanguard Group Inc. boosted its stake in GoPro by 5.3% in the first quarter. Vanguard Group Inc. now owns 6,649,654 shares of the company’s stock worth $57,851,000 after buying an additional 335,744 shares in the last quarter. Menta Capital LLC acquired a new stake in GoPro during the first quarter worth $1,907,000. A.R.T. Advisors LLC acquired a new stake in GoPro during the fourth quarter worth $1,393,000. Tudor Investment Corp ET AL acquired a new stake in GoPro during the first quarter worth $1,063,000. Finally, MUFG Securities EMEA plc boosted its stake in GoPro by 7,126.6% in the first quarter. MUFG Securities EMEA plc now owns 90,714 shares of the company’s stock worth $789,000 after buying an additional 92,005 shares in the last quarter. Institutional investors own 25.56% of the company’s stock.
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GoPro, Inc (GoPro) produces cameras and mountable and wearable accessories. The Company’s product offerings include HERO5, which is a line of cloud-connected cameras featuring image stabilization, telemetry, cloud connectivity and voice control; GoPro Plus, which is a cloud-based storage solution that enables subscribers to access, edit and share content; Quik, which is a mobile editing application that creates edits on a smartphone; Capture, which is a mobile application that allows users to preview and play back shots, control their GoPro cameras and share content on the fly using their smartphones; Karma, which is its compact and foldable drone and versatile stabilization solution that includes the Karma controller, and camera stabilizer, and it all fits in a custom backpack, and Karma Grip, which is a handheld, body-mountable camera stabilizer.
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