Traders Buy High Volume of Call Options on GoPro (GPRO)
GoPro, Inc. (NASDAQ:GPRO) saw some unusual options trading on Thursday. Investors purchased 25,532 call options on the company. This is an increase of 611% compared to the typical daily volume of 3,591 call options.
GPRO has been the topic of a number of recent analyst reports. Vetr downgraded GoPro from a “strong-buy” rating to a “buy” rating and set a $8.98 price objective on the stock. in a research note on Wednesday, June 28th. J P Morgan Chase & Co reissued a “buy” rating on shares of GoPro in a research note on Friday, August 4th. Morgan Stanley raised GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price objective on the stock in a research note on Monday, July 31st. They noted that the move was a valuation call. Wedbush reissued a “hold” rating and issued a $9.00 price objective on shares of GoPro in a research note on Thursday, June 1st. Finally, Zacks Investment Research downgraded GoPro from a “buy” rating to a “hold” rating in a research note on Tuesday, May 16th. Seven 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 company. The company presently has a consensus rating of “Hold” and a consensus price target of $8.75.
In other news, Director Anthony John Bates sold 25,529 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $10.17, for a total value of $259,629.93. Following the transaction, the director now directly owns 116,482 shares of the company’s stock, valued at approximately $1,184,621.94. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 28.69% of the stock is owned by insiders.
Hedge funds and other institutional investors have recently made changes to their positions in the stock. Invictus RG purchased a new position in GoPro in the 1st quarter worth approximately $195,000. Swiss National Bank raised its holdings in GoPro by 3.9% in the 1st quarter. Swiss National Bank now owns 145,600 shares of the company’s stock worth $1,267,000 after acquiring an additional 5,500 shares during the last quarter. Schwab Charles Investment Management Inc. raised its holdings in GoPro by 5.5% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 455,706 shares of the company’s stock worth $3,965,000 after acquiring an additional 23,697 shares during the last quarter. Raymond James Financial Services Advisors Inc. raised its holdings in GoPro by 3.4% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock worth $183,000 after acquiring an additional 695 shares during the last quarter. Finally, HighTower Advisors LLC raised its holdings in GoPro by 5.5% in the 1st quarter. HighTower Advisors LLC now owns 197,832 shares of the company’s stock worth $1,718,000 after acquiring an additional 10,232 shares during the last quarter. Institutional investors own 24.40% of the company’s stock.
Shares of GoPro (NASDAQ GPRO) opened at 10.26 on Friday. The stock has a 50 day moving average price of $9.08 and a 200 day moving average price of $8.61. The stock’s market capitalization is $1.39 billion. GoPro has a 52 week low of $7.14 and a 52 week high of $17.68.
GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.34) by $0.20. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The firm had revenue of $296.52 million during the quarter, compared to analyst estimates of $268.94 million. During the same period last year, the business earned ($0.52) earnings per share. The business’s revenue was up 34.3% on a year-over-year basis. On average, equities research analysts expect that GoPro will post ($0.05) EPS for the current year.
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GoPro Company Profile
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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