Published On: Mon, Sep 19th, 2016

GoPro Inc. (GPRO) Trading Up 6.9%

GoPro Inc. (NASDAQ:GPRO) was up 6.9% during trading on Monday . The company traded as high as $16.44 and last traded at $15.99, with a volume of 21,704,179 shares traded. The stock had previously closed at $14.96.
A number of equities research analysts have recently commented on GPRO shares. Bank of America Corp. started coverage on shares of GoPro in a research note on Friday. They set a “buy” rating and a $19.00 price objective on the stock. Dougherty & Co reaffirmed a “hold” rating on shares of GoPro in a research note on Monday, July 18th. Vetr raised shares of GoPro from a “buy” rating to a “strong-buy” rating and set a $17.43 price objective on the stock in a research note on Monday, August 22nd. JPMorgan Chase & Co. set a $17.00 price target on shares of GoPro and gave the company a “buy” rating in a research note on Thursday, July 21st. Finally, Oppenheimer Holdings Inc. reissued a “market perform” rating on shares of GoPro in a research note on Tuesday, September 13th. Two equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have given a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Hold” and a consensus price target of $15.33.
The stock has a 50 day moving average price of $14.05 and a 200 day moving average price of $12.12. The firm’s market capitalization is $2.13 billion.

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GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.52) earnings per share for the quarter, topping the Zacks’ consensus estimate of ($0.58) by $0.06. GoPro had a negative return on equity of 27.52% and a negative net margin of 17.31%. The firm had revenue of $220.80 million for the quarter, compared to analyst estimates of $194.37 million. During the same quarter in the prior year, the company posted $0.35 earnings per share. GoPro’s quarterly revenue was down 47.4% on a year-over-year basis. On average, analysts predict that GoPro Inc. will post ($1.06) earnings per share for the current fiscal year.
In other GoPro news, Director Edward A. Gilhuly sold 700,000 shares of the company’s stock in a transaction on Friday, August 19th. The stock was sold at an average price of $15.12, for a total value of $10,584,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, President Anthony John Bates sold 9,704 shares of the company’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total value of $137,408.64. Following the completion of the sale, the president now directly owns 398,137 shares in the company, valued at approximately $5,637,619.92. The disclosure for this sale can be found here. Corporate insiders own 28.69% of the company’s stock.
Hedge funds have recently bought and sold shares of the stock. Advisor Group Inc. purchased a new stake in GoPro during the second quarter valued at $100,000. Emerald Acquisition Ltd. purchased a new stake in GoPro during the second quarter valued at $111,000. Penserra Capital Management LLC raised its stake in GoPro by 42.9% in the second quarter. Penserra Capital Management LLC now owns 10,533 shares of the company’s stock valued at $114,000 after buying an additional 3,164 shares during the period. BlueMountain Capital Management LLC purchased a new stake in GoPro during the first quarter valued at $117,000. Finally, Marathon Trading Investment Management LLC raised its stake in GoPro by 114.1% in the first quarter. Marathon Trading Investment Management LLC now owns 10,000 shares of the company’s stock valued at $120,000 after buying an additional 80,800 shares during the period. 28.46% of the stock is currently owned by institutional investors.
About GoPro
GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.

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