GoPro Inc. (GPRO) Sees Large Volume Increase
Shares of GoPro Inc. (NASDAQ:GPRO) saw unusually-high trading volume on Wednesday . Approximately 7,013,313 shares traded hands during mid-day trading, an increase of 8% from the previous session’s volume of 6,468,652 shares.The stock last traded at $12.22 and had previously closed at $12.46.
Several research firms have recently weighed in on GPRO. Pacific Crest restated a “hold” rating on shares of GoPro in a research report on Monday, April 25th. Piper Jaffray Cos. restated an “underweight” rating and issued a $7.00 price objective on shares of GoPro in a research report on Saturday, April 16th. Goldman Sachs Group Inc. restated a “neutral” rating and issued a $11.00 price objective on shares of GoPro in a research report on Friday, April 15th. Vetr cut shares of GoPro from a “strong-buy” rating to a “buy” rating and set a $14.62 price objective on the stock. in a research report on Monday, March 21st. Finally, Zacks Investment Research upgraded shares of GoPro from a “sell” rating to a “hold” rating in a research report on Tuesday, April 5th. Three research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, seven have issued a buy rating and one has issued a strong buy rating to the company. The company presently has a consensus rating of “Hold” and an average target price of $14.98.
The company has a 50-day moving average of $10.75 and a 200-day moving average of $11.90. The company’s market cap is $1.72 billion.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Thursday, May 5th. The company reported ($0.63) earnings per share for the quarter, missing the consensus estimate of ($0.60) by $0.03. During the same quarter last year, the firm posted $0.24 earnings per share. The firm had revenue of $183.50 million for the quarter, compared to analysts’ expectations of $169.14 million. The company’s revenue was down 49.5% on a year-over-year basis. On average, analysts forecast that GoPro Inc. will post ($0.93) earnings per share for the current fiscal year.
In related news, President Anthony John Bates sold 9,704 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The shares were sold at an average price of $10.79, for a total transaction of $104,706.16. Following the sale, the president now directly owns 404,540 shares in the company, valued at $4,364,986.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several large investors have recently bought and sold shares of GPRO. BNP Paribas Arbitrage SA increased its stake in shares of GoPro by 473.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 136,110 shares of the company’s stock valued at $2,451,000 after buying an additional 112,358 shares in the last quarter. Wells Fargo & Company MN increased its stake in shares of GoPro by 25.7% in the fourth quarter. Wells Fargo & Company MN now owns 82,343 shares of the company’s stock valued at $1,484,000 after buying an additional 16,847 shares in the last quarter. Quantitative Investment Management LLC bought a new stake in shares of GoPro during the fourth quarter valued at $5,907,000. California State Teachers Retirement System increased its stake in shares of GoPro by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 165,358 shares of the company’s stock valued at $2,978,000 after buying an additional 2,586 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System increased its stake in shares of GoPro by 1.8% in the fourth quarter. State Board of Administration of Florida Retirement System now owns 116,588 shares of the company’s stock valued at $2,100,000 after buying an additional 2,070 shares in the last quarter.
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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