GoPro (GPRO) Given Neutral Rating at Wedbush
GoPro (NASDAQ:GPRO)‘s stock had its “neutral” rating restated by equities research analysts at Wedbush in a research report issued to clients and investors on Tuesday. They presently have a $6.00 price target on the stock, down from their previous price target of $10.50. Wedbush’s price target would indicate a potential downside of 2.28% from the company’s previous close.
Other research analysts have also recently issued reports about the company. JPMorgan Chase & Co. set a $9.00 price target on GoPro and gave the company a “buy” rating in a research note on Monday. Longbow Research upgraded GoPro from a “neutral” rating to a “buy” rating and increased their price target for the company from $9.60 to $13.00 in a research note on Wednesday, October 18th. They noted that the move was a valuation call. Zacks Investment Research raised GoPro from a “hold” rating to a “buy” rating and set a $12.00 target price for the company in a research report on Wednesday, October 4th. Oppenheimer reaffirmed a “hold” rating on shares of GoPro in a research report on Friday, September 29th. Finally, Vetr lowered GoPro from a “buy” rating to a “hold” rating and set a $11.84 target price for the company. in a research report on Monday, September 18th. Six equities research analysts have rated the stock with a sell rating, thirteen have issued a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the stock. The company presently has an average rating of “Hold” and an average price target of $8.74.
Shares of GoPro (NASDAQ:GPRO) traded down $0.42 on Tuesday, hitting $6.14. The stock had a trading volume of 11,806,749 shares, compared to its average volume of 15,452,740. GoPro has a one year low of $5.04 and a one year high of $11.89. The company has a market cap of $890.35, a PE ratio of -3.57, a price-to-earnings-growth ratio of 8.36 and a beta of 0.53. The company has a quick ratio of 1.08, a current ratio of 1.65 and a debt-to-equity ratio of 0.38.
In other news, Director Anthony John Bates sold 17,023 shares of GoPro stock in a transaction dated Wednesday, December 6th. The stock was sold at an average price of $7.98, for a total value of $135,843.54. Following the completion of the transaction, the director now directly owns 99,459 shares of the company’s stock, valued at approximately $793,682.82. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Nicholas Woodman sold 515,000 shares of GoPro stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $9.30, for a total value of $4,789,500.00. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 704,907 shares of company stock valued at $6,478,800. 28.58% of the stock is owned by corporate insiders.
Several hedge funds have recently bought and sold shares of the company. Nomura Holdings Inc. raised its position in shares of GoPro by 5.4% in the 2nd quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock worth $112,000 after acquiring an additional 704 shares in the last quarter. Legal & General Group Plc raised its position in shares of GoPro by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 34,526 shares of the company’s stock worth $281,000 after acquiring an additional 763 shares in the last quarter. Stifel Financial Corp raised its position in shares of GoPro by 1.4% in the 2nd quarter. Stifel Financial Corp now owns 59,343 shares of the company’s stock worth $482,000 after acquiring an additional 813 shares in the last quarter. Nationwide Fund Advisors raised its position in shares of GoPro by 0.8% in the 2nd quarter. Nationwide Fund Advisors now owns 111,160 shares of the company’s stock worth $904,000 after acquiring an additional 900 shares in the last quarter. Finally, Amalgamated Bank raised its position in shares of GoPro by 14.6% in the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock worth $118,000 after acquiring an additional 1,858 shares in the last quarter. 26.07% of the stock is owned by hedge funds and other institutional investors.
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.
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