GoPro Inc (NASDAQ:GPRO)’s share price gapped down before the market opened on Wednesday after Citigroup lowered their price target on the stock to $7.00. The stock had previously closed at $6.09, but opened at $6.17. Citigroup currently has a neutral rating on the stock. GoPro shares last traded at $6.01, with a volume of 4373025 shares changing hands.

Several other research firms have also issued reports on GPRO. Wedbush reaffirmed a “neutral” rating and issued a $10.00 price objective (down previously from $11.48) on shares of GoPro in a research note on Friday, September 29th. Zacks Investment Research raised shares of GoPro from a “hold” rating to a “buy” rating and set a $12.00 price objective for the company in a research note on Wednesday, October 4th. JPMorgan Chase & Co. set a $9.00 price objective on shares of GoPro and gave the company a “buy” rating in a research note on Monday. Oppenheimer reaffirmed a “hold” rating on shares of GoPro in a research note on Friday, September 29th. Finally, BidaskClub lowered shares of GoPro from a “sell” rating to a “strong sell” rating in a research report on Saturday, December 9th. Six equities research analysts have rated the stock with a sell rating, thirteen have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. GoPro presently has an average rating of “Hold” and a consensus target price of $8.74.

In other news, CFO Brian Mcgee sold 7,541 shares of the company’s stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $8.23, for a total transaction of $62,062.43. Following the transaction, the chief financial officer now directly owns 79,167 shares in the company, valued at $651,544.41. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nicholas Woodman sold 165,343 shares of the company’s stock in a transaction that occurred on Monday, November 6th. The stock was sold at an average price of $9.02, for a total transaction of $1,491,393.86. The disclosure for this sale can be found here. Insiders have sold 704,907 shares of company stock worth $6,478,800 over the last ninety days. Insiders own 28.58% of the company’s stock.

Several hedge funds have recently made changes to their positions in GPRO. Argent Capital Management LLC acquired a new stake in GoPro in the third quarter worth $1,028,000. Swiss National Bank raised its holdings in GoPro by 14.5% in the second quarter. Swiss National Bank now owns 166,700 shares of the company’s stock worth $1,355,000 after purchasing an additional 21,100 shares during the period. Wells Fargo & Company MN raised its holdings in GoPro by 266.1% in the second quarter. Wells Fargo & Company MN now owns 292,349 shares of the company’s stock worth $2,376,000 after purchasing an additional 212,486 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in GoPro by 22.2% in the second quarter. Schwab Charles Investment Management Inc. now owns 556,863 shares of the company’s stock worth $4,528,000 after purchasing an additional 101,157 shares during the period. Finally, Teachers Advisors LLC raised its holdings in GoPro by 9.2% in the second quarter. Teachers Advisors LLC now owns 193,410 shares of the company’s stock worth $1,572,000 after purchasing an additional 16,243 shares during the period. Institutional investors own 26.07% of the company’s stock.

The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.38. The firm has a market cap of $883.05, a PE ratio of -3.52, a PEG ratio of 8.36 and a beta of 0.53.

ILLEGAL ACTIVITY NOTICE: This story was originally published by Watch List News and is the sole property of of Watch List News. If you are reading this story on another publication, it was illegally copied and reposted in violation of U.S. and international copyright & trademark law. The legal version of this story can be viewed at https://www.watchlistnews.com/gopro-gpro-shares-gap-down-following-analyst-downgrade/1802152.html.

About GoPro

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.

Receive News & Ratings for GoPro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoPro and related companies with MarketBeat.com's FREE daily email newsletter.