Traders Purchase Large Volume of Call Options on GoPro (NASDAQ:GPRO)
GoPro, Inc. (NASDAQ:GPRO) was the recipient of some unusual options trading activity on Friday. Investors bought 24,447 call options on the company. This represents an increase of approximately 819% compared to the average daily volume of 2,659 call options.
Several equities analysts have recently weighed in on GPRO shares. Vetr raised shares of GoPro from a “buy” rating to a “strong-buy” rating and set a $9.04 price objective on the stock in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. reissued a “market perform” rating on shares of GoPro in a research report on Monday, May 1st. Morgan Stanley raised shares of GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price objective on the stock in a research report on Monday, July 31st. They noted that the move was a valuation call. Stifel Nicolaus reissued a “hold” rating and issued a $9.00 price objective on shares of GoPro in a research report on Saturday, April 29th. Finally, Dougherty & Co reissued a “sell” rating and issued a $5.00 price objective on shares of GoPro in a research report on Wednesday, July 5th. Eight equities research analysts have rated the stock with a sell rating, sixteen have issued a hold rating and two have issued a buy rating to the company. GoPro currently has an average rating of “Hold” and a consensus price target of $8.28.
In other GoPro news, Director Anthony John Bates sold 41,076 shares of the stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $8.49, for a total value of $348,735.24. Following the completion of the sale, the director now owns 142,011 shares in the company, valued at $1,205,673.39. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 28.69% of the company’s stock.
Several large investors have recently made changes to their positions in GPRO. Vanguard Group Inc. boosted its stake 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 in the last quarter. Menta Capital LLC bought a new stake in shares of GoPro during the first quarter valued at $1,907,000. Tudor Investment Corp ET AL bought a new stake in shares of GoPro during the first quarter valued at $1,063,000. Schwab Charles Investment Management Inc. boosted its stake 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 in the last quarter. Finally, MUFG Securities EMEA plc boosted its stake in shares of GoPro by 7,126.6% in the first quarter. MUFG Securities EMEA plc now owns 90,714 shares of the company’s stock valued at $789,000 after buying an additional 92,005 shares in the last quarter. Hedge funds and other institutional investors own 25.34% of the company’s stock.
Shares of GoPro (GPRO) opened at 9.85 on Monday. The firm’s market capitalization is $1.42 billion. GoPro has a 52 week low of $7.14 and a 52 week high of $17.68. The firm’s 50-day moving average is $8.07 and its 200-day moving average is $8.63.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.20. GoPro had a negative return on equity of 38.52% and a negative net margin of 27.88%. The firm had revenue of $296.52 million for the quarter, compared to analysts’ expectations of $268.94 million. During the same period in the prior year, the business posted ($0.52) earnings per share. The company’s revenue was up 34.3% on a year-over-year basis. Equities analysts anticipate that GoPro will post ($0.04) EPS for the current year.
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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