National Planning Corp Boosts Position in GoPro Inc. (GPRO)
National Planning Corp increased its stake in shares of GoPro Inc. (NASDAQ:GPRO) by 3.8% during the second quarter, Holdings Channel reports. The firm owned 12,325 shares of the company’s stock after buying an additional 450 shares during the period. National Planning Corp’s holdings in GoPro were worth $155,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of GoPro during the fourth quarter worth about $10,583,000. First Eagle Investment Management LLC purchased a new stake in shares of GoPro during the second quarter valued at $5,297,000. Societe Generale purchased a new stake in shares of GoPro during the second quarter valued at $3,613,000. Quantitative Investment Management LLC raised its stake in shares of GoPro by 231.2% in the second quarter. Quantitative Investment Management LLC now owns 297,100 shares of the company’s stock valued at $3,211,000 after buying an additional 207,400 shares in the last quarter. Finally, Quantitative Systematic Strategies LLC purchased a new stake in shares of GoPro during the first quarter valued at $1,925,000. 28.46% of the stock is currently owned by institutional investors.
Shares of GoPro Inc. (NASDAQ:GPRO) traded down 0.26% during mid-day trading on Tuesday, reaching $15.27. 4,253,533 shares of the company’s stock traded hands. The company’s 50 day moving average is $14.31 and its 200-day moving average is $12.17. The firm’s market cap is $2.13 billion. GoPro Inc. has a 52 week low of $8.62 and a 52 week high of $35.00.
GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Wednesday, July 27th. The company reported ($0.52) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.58) by $0.06. GoPro had a negative net margin of 17.31% and a negative return on equity of 27.52%. The business had revenue of $220.80 million for the quarter, compared to analysts’ expectations of $194.37 million. During the same period in the prior year, the firm earned $0.35 earnings per share. GoPro’s revenue was down 47.4% compared to the same quarter last year. Equities analysts expect that GoPro Inc. will post ($1.06) earnings per share for the current fiscal year.
Several brokerages recently weighed in on GPRO. Barclays PLC reissued an “equal weight” rating and issued a $12.00 price objective on shares of GoPro in a report on Thursday, July 28th. Dougherty & Co reissued a “hold” rating on shares of GoPro in a report on Tuesday, May 24th. Longbow Research lowered GoPro from a “buy” rating to a “hold” rating in a report on Wednesday, June 15th. Piper Jaffray Cos. reissued an “underweight” rating and issued a $6.50 price objective on shares of GoPro in a report on Wednesday, June 15th. Finally, Wedbush boosted their price objective on GoPro from $13.00 to $14.50 and gave the company an “outperform” rating in a report on Thursday, July 28th. Two investment analysts have rated the stock with a sell rating, thirteen have issued a hold rating, seven have given a buy rating and one has given a strong buy rating to the stock. GoPro currently has an average rating of “Hold” and a consensus target price of $15.49.
In other news, Director Edward A. Gilhuly sold 700,000 shares of the stock in a transaction that occurred on Friday, August 19th. The shares were sold at an average price of $15.12, for a total transaction of $10,584,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Michael E. Marks sold 40,000 shares of the stock in a transaction that occurred on Monday, August 15th. The shares were sold at an average price of $15.58, for a total transaction of $623,200.00. The disclosure for this sale can be found here. Insiders own 28.69% of the company’s stock.
GoPro Company Profile
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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