GoPro (GPRO) Trading 7.2% Higher

Shares of GoPro Inc (NASDAQ:GPRO) traded up 7.2% during trading on Wednesday . The company traded as high as $5.77 and last traded at $5.67. 4,996,885 shares traded hands during trading, a decline of 28% from the average session volume of 6,966,664 shares. The stock had previously closed at $5.29.

A number of analysts recently commented on the stock. Bank of America dropped their price target on shares of GoPro from $6.50 to $5.50 and set an “underperform” rating on the stock in a research note on Friday, February 2nd. Citigroup dropped their price target on shares of GoPro from $7.00 to $5.50 and set a “neutral” rating on the stock in a research note on Friday, February 2nd. JPMorgan Chase & Co. cut shares of GoPro from an “overweight” rating to a “neutral” rating and dropped their price target for the company from $9.00 to $8.00 in a research note on Friday, February 2nd. Morgan Stanley cut shares of GoPro from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $9.50 to $5.00 in a research note on Tuesday, January 23rd. Finally, Zacks Investment Research cut shares of GoPro from a “hold” rating to a “sell” rating in a research note on Thursday, January 11th. Eight analysts have rated the stock with a sell rating, ten have issued a hold rating and one has issued a strong buy rating to the company’s stock. The stock currently has a consensus rating of “Hold” and an average price target of $8.14.

The company has a debt-to-equity ratio of 0.38, a current ratio of 1.65 and a quick ratio of 1.08. The company has a market capitalization of $827.59, a price-to-earnings ratio of -4.33 and a beta of 0.15.

GoPro (NASDAQ:GPRO) last posted its earnings results on Thursday, February 1st. The company reported ($0.30) earnings per share for the quarter, missing the Zacks’ consensus estimate of $0.45 by ($0.75). The firm had revenue of $334.80 million for the quarter, compared to the consensus estimate of $340.19 million. GoPro had a negative return on equity of 39.34% and a negative net margin of 15.50%. The business’s revenue was down 38.1% on a year-over-year basis. During the same period last year, the company posted $0.29 EPS. equities research analysts forecast that GoPro Inc will post -0.62 EPS for the current year.

In other news, CFO Brian Mcgee sold 7,541 shares of the 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 transaction, the chief financial officer now owns 79,167 shares of the company’s stock, valued at approximately $651,544.41. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Anthony John Bates sold 17,023 shares of the stock in a transaction on Wednesday, December 6th. The stock was sold at an average price of $7.98, for a total transaction of $135,843.54. Following the completion of the transaction, the director now directly owns 99,459 shares in the company, valued at approximately $793,682.82. The disclosure for this sale can be found here. Corporate insiders own 28.58% of the company’s stock.

Large investors have recently modified their holdings of the company. Nomura Holdings Inc. increased its holdings in shares of GoPro by 5.4% in the 2nd quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock worth $112,000 after buying an additional 704 shares during the last quarter. Amalgamated Bank increased its holdings in shares of GoPro by 14.6% in the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock worth $118,000 after buying an additional 1,858 shares during the last quarter. Essex Investment Management Co. LLC bought a new position in shares of GoPro in the 3rd quarter worth $122,000. North Star Investment Management Corp. increased its holdings in shares of GoPro by 226.6% in the 4th quarter. North Star Investment Management Corp. now owns 16,575 shares of the company’s stock worth $125,000 after buying an additional 11,500 shares during the last quarter. Finally, Principal Financial Group Inc. bought a new position in shares of GoPro in the 3rd quarter worth $139,000. 26.57% of the stock is currently owned by hedge funds and other institutional investors.

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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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