GoPro Target of Unusually High Options Trading (GPRO)

GoPro Inc (NASDAQ:GPRO) was the target of unusually large options trading activity on Monday. Stock investors acquired 46,008 call options on the stock. This represents an increase of approximately 1,414% compared to the average daily volume of 3,039 call options.

In related news, CFO Brian Mcgee sold 7,541 shares of the company’s stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $8.23, for a total value of $62,062.43. Following the completion of the sale, the chief financial officer now owns 79,167 shares in the company, valued at approximately $651,544.41. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Anthony John Bates sold 17,023 shares of the company’s stock in a transaction on Wednesday, December 6th. The shares were sold at an average price of $7.98, for a total transaction of $135,843.54. Following the completion of the sale, the director now owns 99,459 shares of the company’s stock, valued at approximately $793,682.82. The disclosure for this sale can be found here. Insiders have sold a total of 704,907 shares of company stock valued at $6,478,800 in the last 90 days. Insiders own 28.58% of the company’s stock.

Hedge funds and other institutional investors have recently modified their holdings of the stock. Nomura Holdings Inc. lifted its holdings in GoPro by 5.4% in the 2nd quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after purchasing an additional 704 shares in the last quarter. Amalgamated Bank lifted its holdings in GoPro by 14.6% in the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock valued at $118,000 after purchasing an additional 1,858 shares in the last quarter. Essex Investment Management Co. LLC purchased a new position in GoPro in the 3rd quarter valued at about $122,000. Principal Financial Group Inc. purchased a new position in GoPro in the 3rd quarter valued at about $139,000. Finally, Virtu KCG Holdings LLC lifted its holdings in GoPro by 58.1% in the 2nd quarter. Virtu KCG Holdings LLC now owns 28,278 shares of the company’s stock valued at $230,000 after purchasing an additional 10,390 shares in the last quarter. 26.07% of the stock is currently owned by hedge funds and other institutional investors.

A number of equities analysts have commented on GPRO shares. Wedbush restated a “neutral” rating and set a $10.00 price objective (down previously from $11.48) on shares of GoPro in a research report on Friday, September 29th. Zacks Investment Research upgraded shares of GoPro from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research report on Wednesday, October 4th. JPMorgan Chase & Co. set a $9.00 price objective on shares of GoPro and gave the stock a “buy” rating in a research report on Monday. Citigroup cut their price objective on shares of GoPro from $11.00 to $10.00 and set a “neutral” rating for the company in a research report on Thursday, November 2nd. Finally, Oppenheimer restated a “hold” rating on shares of GoPro in a research report on Friday, September 29th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $8.74.

Shares of GoPro (NASDAQ:GPRO) opened at $6.05 on Thursday. The company has a market cap of $883.05, a PE ratio of -3.52, a P/E/G ratio of 8.36 and a beta of 0.53. GoPro has a 12 month low of $5.04 and a 12 month high of $11.89. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.38.

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About GoPro

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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