Metropolitan Life Insurance Co. NY boosted its position in shares of GoPro, Inc. (NASDAQ:GPRO) by 4.4% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 71,873 shares of the company’s stock after buying an additional 3,061 shares during the period. Metropolitan Life Insurance Co. NY’s holdings in GoPro were worth $625,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors also recently made changes to their positions in GPRO. Nomura Holdings Inc. acquired a new position in GoPro during the first quarter valued at $113,000. Engineers Gate Manager LP purchased a new stake in shares of GoPro during the first quarter valued at approximately $118,000. Financial Architects Inc raised its stake in shares of GoPro by 15.2% in the first quarter. Financial Architects Inc now owns 15,200 shares of the company’s stock valued at $132,000 after buying an additional 2,000 shares during the last quarter. Concourse Capital Management LLC purchased a new stake in shares of GoPro during the first quarter valued at approximately $155,000. Finally, Raymond James Financial Services Advisors Inc. raised its stake in shares of GoPro by 3.4% in the first quarter. Raymond James Financial Services Advisors Inc. now owns 21,061 shares of the company’s stock valued at $183,000 after buying an additional 695 shares during the last quarter. Institutional investors and hedge funds own 25.12% of the company’s stock.
GoPro, Inc. (NASDAQ:GPRO) traded down 2.90% during midday trading on Friday, hitting $9.05. The stock had a trading volume of 4,398,963 shares. The stock has a 50 day moving average of $8.63 and a 200 day moving average of $8.64. GoPro, Inc. has a 12 month low of $7.14 and a 12 month high of $17.68. The stock’s market cap is $1.23 billion.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.14) EPS for the quarter, beating the Zacks’ consensus estimate of ($0.34) by $0.20. GoPro had a negative net margin of 27.88% and a negative return on equity of 41.52%. The firm had revenue of $296.52 million for the quarter, compared to the consensus estimate of $268.94 million. During the same period in the previous year, the firm posted ($0.52) earnings per share. The firm’s revenue was up 34.3% on a year-over-year basis. Analysts expect that GoPro, Inc. will post ($0.05) EPS for the current fiscal year.
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Several analysts have issued reports on GPRO shares. Wedbush reiterated a “hold” rating and issued a $9.00 target price on shares of GoPro in a research report on Thursday, June 1st. Dougherty & Co reiterated a “sell” rating and issued a $5.00 target price on shares of GoPro in a research report on Tuesday, April 25th. Vetr downgraded GoPro from a “strong-buy” rating to a “buy” rating and set a $8.98 price objective on the stock. in a research report on Wednesday, June 28th. Morgan Stanley upgraded GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price objective on the stock in a research report on Monday, July 31st. They noted that the move was a valuation call. Finally, Goldman Sachs Group, Inc. (The) upgraded GoPro from a “sell” rating to a “neutral” rating and upped their price objective for the company from $6.75 to $10.00 in a research report on Tuesday. Six investment analysts have rated the stock with a sell rating, eighteen have issued a hold rating and two have issued a buy rating to the stock. GoPro presently has an average rating of “Hold” and a consensus price target of $8.47.
In related news, Director Anthony John Bates sold 41,076 shares of the business’s stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $8.49, for a total transaction of $348,735.24. Following the transaction, the director now directly owns 142,011 shares of the company’s stock, valued at $1,205,673.39. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 28.69% of the company’s stock.
GoPro Company Profile
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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