Short Interest in GoPro, Inc. (GPRO) Declines By 12.6%
GoPro, Inc. (NASDAQ:GPRO) saw a significant decline in short interest in the month of November. As of November 30th, there was short interest totalling 28,863,132 shares, a decline of 12.6% from the November 15th total of 33,024,921 shares. Currently, 26.7% of the company’s shares are short sold. Based on an average daily trading volume, of 2,807,509 shares, the days-to-cover ratio is currently 10.3 days.
GPRO has been the topic of several research analyst reports. BidaskClub cut shares of GoPro from a “hold” rating to a “sell” rating in a research report on Saturday, August 19th. J P Morgan Chase & Co restated an “overweight” rating and issued a $13.00 price objective on shares of GoPro in a report on Saturday, August 26th. Citigroup restated a “neutral” rating and issued a $10.50 price objective on shares of GoPro in a report on Friday, September 8th. Morgan Stanley upped their price objective on shares of GoPro from $8.50 to $9.50 and gave the stock an “equal weight” rating in a report on Friday, September 8th. Finally, Oppenheimer restated a “hold” rating on shares of GoPro in a report on Monday, September 11th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The stock has a consensus rating of “Hold” and a consensus target price of $9.68.
Shares of GoPro (NASDAQ GPRO) opened at $7.99 on Thursday. GoPro has a fifty-two week low of $7.14 and a fifty-two week high of $11.89. 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 related news, CEO Nicholas Woodman sold 515,000 shares of the business’s stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $9.30, for a total transaction of $4,789,500.00. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Anthony John Bates sold 17,023 shares of the business’s stock in a transaction dated Wednesday, December 6th. The shares were sold at an average price of $7.98, for a total transaction of $135,843.54. Following the transaction, the director now owns 99,459 shares in the company, valued at approximately $793,682.82. The disclosure for this sale can be found here. Insiders have sold 704,907 shares of company stock worth $6,478,800 in the last quarter. 28.58% of the stock is owned by corporate insiders.
Several large investors have recently bought and sold shares of GPRO. Teachers Advisors LLC grew its holdings in shares of GoPro by 3.1% during the first quarter. Teachers Advisors LLC now owns 177,167 shares of the company’s stock valued at $1,541,000 after buying an additional 5,373 shares during the last quarter. Schwab Charles Investment Management Inc. grew its holdings in shares of GoPro by 5.5% during the first quarter. Schwab Charles Investment Management Inc. now owns 455,706 shares of the company’s stock valued at $3,965,000 after buying an additional 23,697 shares during the last quarter. State Street Corp grew its holdings in shares of GoPro by 3.2% during the first quarter. State Street Corp now owns 1,793,819 shares of the company’s stock valued at $15,606,000 after buying an additional 55,398 shares during the last quarter. Legal & General Group Plc grew its holdings in shares of GoPro by 2.3% during the second quarter. Legal & General Group Plc now owns 34,526 shares of the company’s stock valued at $281,000 after buying an additional 763 shares during the last quarter. Finally, BNP Paribas Arbitrage SA grew its holdings in shares of GoPro by 8.9% during the second quarter. BNP Paribas Arbitrage SA now owns 192,772 shares of the company’s stock valued at $1,567,000 after buying an additional 15,773 shares during the last quarter. Hedge funds and other institutional investors own 26.09% of the company’s stock.
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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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