GoPro Sees Unusually High Options Volume (GPRO)
GoPro, Inc. (NASDAQ:GPRO) was the recipient of some unusual options trading on Friday. Stock traders purchased 10,500 put options on the company. This represents an increase of 428% compared to the average daily volume of 1,987 put options.
GoPro (NASDAQ GPRO) opened at 9.85 on Monday. The firm’s market cap is $1.42 billion. GoPro has a 12 month low of $7.14 and a 12 month high of $17.68. The company has a 50-day moving average price of $8.07 and a 200 day moving average price of $8.63.
GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) EPS for the quarter, topping the consensus estimate of ($0.34) by $0.20. GoPro had a negative net margin of 27.88% and a negative return on equity of 38.52%. The business had revenue of $296.52 million for the quarter, compared to analysts’ expectations of $268.94 million. During the same quarter last year, the company posted ($0.52) earnings per share. The company’s quarterly revenue was up 34.3% compared to the same quarter last year. Equities research analysts anticipate that GoPro will post ($0.04) EPS for the current year.
A number of research analysts recently issued reports on the company. Morgan Stanley set a $9.00 target price on GoPro and gave the company a “hold” rating in a report on Saturday. Vetr lowered GoPro from a “hold” rating to a “strong sell” rating and set a $8.02 target price for the company. in a report on Monday. Dougherty & Co reiterated a “sell” rating and issued a $5.00 target price on shares of GoPro in a report on Tuesday, April 25th. Zacks Investment Research lowered GoPro from a “buy” rating to a “hold” rating in a report on Tuesday, May 16th. Finally, Stifel Nicolaus reiterated a “hold” rating and issued a $9.00 target price on shares of GoPro in a report on Monday, April 17th. Eight equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average target price of $8.28.
In related news, Director Anthony John Bates sold 41,076 shares of GoPro stock in a transaction on Tuesday, June 6th. The stock was sold at an average price of $8.49, for a total value of $348,735.24. Following the completion of the transaction, the director now directly owns 142,011 shares in the company, valued at $1,205,673.39. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 28.69% of the company’s stock.
Several institutional investors have recently modified their holdings of GPRO. Vanguard Group Inc. boosted its position in shares of GoPro by 5.3% in the first quarter. Vanguard Group Inc. now owns 6,649,654 shares of the company’s stock valued at $57,851,000 after buying an additional 335,744 shares during the last quarter. State Street Corp boosted its position in shares of GoPro by 3.2% in the first quarter. State Street Corp now owns 1,793,819 shares of the company’s stock valued at $15,606,000 after buying an additional 55,398 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of GoPro by 9.6% in the first quarter. Geode Capital Management LLC now owns 804,345 shares of the company’s stock valued at $6,997,000 after buying an additional 70,449 shares during the last quarter. Schwab Charles Investment Management Inc. boosted its position in shares of GoPro by 22.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 556,863 shares of the company’s stock valued at $4,528,000 after buying an additional 101,157 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in shares of GoPro by 0.9% in the first quarter. First Eagle Investment Management LLC now owns 547,200 shares of the company’s stock valued at $4,761,000 after buying an additional 5,000 shares during the last quarter. 25.34% of the stock is currently owned by institutional investors and hedge funds.
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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