GoPro Inc. (GPRO) Sees Large Volume Increase
GoPro Inc. (NASDAQ:GPRO) saw an uptick in trading volume on Tuesday . 8,762,653 shares traded hands during trading, an increase of 27% from the previous session’s volume of 6,895,925 shares.The stock last traded at $11.01 and had previously closed at $11.85.
Several brokerages have weighed in on GPRO. Oppenheimer Holdings Inc. reaffirmed a “hold” rating on shares of GoPro in a research note on Thursday, May 5th. Barclays PLC reaffirmed a “hold” rating and set a $12.00 target price on shares of GoPro in a research note on Sunday, May 8th. Piper Jaffray Cos. reaffirmed an “underweight” rating and set a $7.00 target price on shares of GoPro in a research note on Thursday, May 5th. Robert W. Baird reaffirmed a “hold” rating on shares of GoPro in a research note on Sunday, May 8th. Finally, Wedbush reissued an “outperform” rating and set a $13.00 price target on shares of GoPro in a research report on Thursday, May 5th. Three equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and an average target price of $16.46.
The firm’s market cap is $1.52 billion. The stock has a 50-day moving average price of $10.92 and a 200 day moving average price of $11.71.
GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Thursday, May 5th. The company reported ($0.63) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($0.60) by $0.03. The business earned $183.50 million during the quarter, compared to analysts’ expectations of $169.14 million. The firm’s revenue for the quarter was down 49.5% compared to the same quarter last year. During the same period in the previous year, the company posted $0.24 EPS. Equities research analysts predict that GoPro Inc. will post ($0.94) EPS for the current year.
In other GoPro news, President Anthony John Bates sold 9,704 shares of the company’s stock in a transaction that occurred on Monday, June 6th. The stock was sold at an average price of $10.79, for a total value of $104,706.16. Following the completion of the transaction, the president now owns 404,540 shares in the company, valued at approximately $4,364,986.60. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink.
A number of institutional investors recently added to or reduced their stakes in GPRO. Quantitative Investment Management LLC bought a new position in GoPro during the fourth quarter worth $5,907,000. California State Teachers Retirement System boosted its position in GoPro by 1.6% in the fourth quarter. California State Teachers Retirement System now owns 165,358 shares of the company’s stock worth $2,978,000 after buying an additional 2,586 shares in the last quarter. BNP Paribas Arbitrage SA boosted its position in GoPro by 473.0% in the fourth quarter. BNP Paribas Arbitrage SA now owns 136,110 shares of the company’s stock worth $2,451,000 after buying an additional 112,358 shares in the last quarter. Finally, State Board of Administration of Florida Retirement System boosted its position in 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 worth $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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