GoPro Target of Unusually High Options Trading (GPRO)

GoPro, Inc. (NASDAQ:GPRO) saw some unusual options trading activity on Friday. Investors purchased 10,500 put options on the company. This is an increase of approximately 428% compared to the typical volume of 1,987 put options.

A number of brokerages have recently issued reports on GPRO. Goldman Sachs Group, Inc. (The) raised shares of 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 note on Tuesday. Oppenheimer Holdings, Inc. reaffirmed a “market perform” rating on shares of GoPro in a research note on Wednesday, August 9th. BidaskClub raised shares of GoPro from a “sell” rating to a “hold” rating in a research report on Wednesday, August 9th. Vetr cut shares of GoPro from a “hold” rating to a “strong sell” rating and set a $8.02 price target for the company. in a research report on Monday, August 7th. Finally, Morgan Stanley set a $9.00 price target on shares of GoPro and gave the company a “hold” rating in a research report on Saturday, August 5th. Six equities research analysts have rated the stock with a sell rating, eighteen have given a hold rating and two have issued a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $8.47.

In other news, Director Anthony John Bates sold 41,076 shares of the company’s stock in a transaction on Tuesday, June 6th. The shares were sold at an average price of $8.49, for a total value of $348,735.24. Following the completion of the sale, the director now owns 142,011 shares of the company’s stock, valued at approximately $1,205,673.39. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 28.69% of the stock is currently owned by corporate insiders.

Hedge funds have recently added to or reduced their stakes in the company. Nomura Holdings Inc. raised its stake in GoPro by 5.4% in the second quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock worth $112,000 after buying an additional 704 shares during the period. Engineers Gate Manager LP acquired a new stake in GoPro during the first quarter worth $118,000. Amalgamated Bank raised its stake in GoPro by 14.6% in the second quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock worth $118,000 after buying an additional 1,858 shares during the period. Financial Architects Inc raised its stake in GoPro by 15.2% in the first quarter. Financial Architects Inc now owns 15,200 shares of the company’s stock worth $132,000 after buying an additional 2,000 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. raised its stake in GoPro by 195.5% in the second quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,250 shares of the company’s stock worth $132,000 after buying an additional 10,750 shares during the period. 25.12% of the stock is owned by institutional investors.

Shares of GoPro (NASDAQ GPRO) traded down 2.90% on Friday, hitting $9.05. 4,398,963 shares of the company traded hands. The firm’s 50-day moving average is $8.63 and its 200 day moving average is $8.64. The firm’s market capitalization is $1.23 billion. GoPro has a 1-year low of $7.14 and a 1-year high of $17.68.

GoPro (NASDAQ:GPRO) last released its quarterly earnings data on Thursday, August 3rd. The company reported ($0.14) earnings per share for the quarter, topping 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 company had revenue of $296.52 million during the quarter, compared to analyst estimates of $268.94 million. During the same period in the prior year, the firm earned ($0.52) earnings per share. The firm’s revenue for the quarter was up 34.3% compared to the same quarter last year. On average, analysts anticipate that GoPro will post ($0.05) earnings per share for the current fiscal year.

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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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