Insider Selling: GoPro, Inc. (GPRO) COO Sells 24,918 Shares of Stock
GoPro, Inc. (NASDAQ:GPRO) COO Charles J. Prober sold 24,918 shares of the stock in a transaction that occurred on Monday, September 11th. The stock was sold at an average price of $11.00, for a total value of $274,098.00. Following the completion of the transaction, the chief operating officer now directly owns 148,493 shares in the company, valued at approximately $1,633,423. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.
GoPro, Inc. (GPRO) traded down 0.27% during midday trading on Tuesday, reaching $10.89. The company had a trading volume of 8,559,349 shares. GoPro, Inc. has a 1-year low of $7.14 and a 1-year high of $17.68. The firm’s 50 day moving average is $9.17 and its 200 day moving average is $8.60. The stock’s market capitalization is $1.48 billion.
GoPro (NASDAQ:GPRO) last issued its earnings results on Thursday, August 3rd. The company reported ($0.14) earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.20. The company had revenue of $296.52 million during the quarter, compared to analysts’ expectations of $268.94 million. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The firm’s quarterly revenue was up 34.3% compared to the same quarter last year. During the same period last year, the company posted ($0.52) earnings per share.
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GPRO has been the topic of several recent research reports. Vetr cut GoPro from a “strong-buy” rating to a “buy” rating and set a $8.98 target price on the stock. in a research report on Wednesday, June 28th. J P Morgan Chase & Co reaffirmed a “buy” rating on shares of GoPro in a research report on Friday, August 4th. Morgan Stanley raised GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 target price on the stock in a research report on Monday, July 31st. They noted that the move was a valuation call. Wedbush reaffirmed a “hold” rating and set a $9.00 target price on shares of GoPro in a research report on Thursday, June 1st. Finally, Zacks Investment Research cut GoPro from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. Seven equities research analysts have rated the stock with a sell rating, sixteen have assigned a hold rating and two have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $8.75.
A number of hedge funds and other institutional investors have recently made changes to their positions in GPRO. Capital Fund Management S.A. boosted its position in GoPro by 12.8% during the first quarter. Capital Fund Management S.A. now owns 104,130 shares of the company’s stock worth $906,000 after acquiring an additional 11,830 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of GoPro by 5.3% in the 1st quarter. Bank of New York Mellon Corp now owns 470,599 shares of the company’s stock valued at $4,095,000 after purchasing an additional 23,641 shares during the last quarter. Swiss National Bank boosted its holdings in shares of GoPro by 3.9% in the 1st quarter. Swiss National Bank now owns 145,600 shares of the company’s stock valued at $1,267,000 after purchasing an additional 5,500 shares during the last quarter. UBS Asset Management Americas Inc. boosted its holdings in shares of GoPro by 33.6% in the 1st quarter. UBS Asset Management Americas Inc. now owns 52,076 shares of the company’s stock valued at $453,000 after purchasing an additional 13,106 shares during the last quarter. Finally, Engineers Gate Manager LP acquired a new position in shares of GoPro in the 1st quarter valued at $118,000. Hedge funds and other institutional investors own 24.40% of the company’s stock.
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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