GoPro, Inc. (GPRO) Stock Price Down NaN on Analyst Downgrade

GoPro, Inc. (NASDAQ:GPRO) shares fell NaN on Thursday after Citigroup lowered their price target on the stock from $11.00 to $10.00. Citigroup currently has a neutral rating on the stock. GoPro traded as low as $9.00 and last traded at $0.00. 11,202,288 shares were traded during mid-day trading, an increase of Infinity from the average session volume of 0 shares.

Other research analysts have also issued reports about the company. Goldman Sachs Group, Inc. (The) upgraded GoPro from a “sell” rating to a “neutral” rating and increased their price objective for the stock from $6.75 to $10.00 in a research report on Tuesday, August 15th. Vetr lowered GoPro from a “hold” rating to a “strong sell” rating and set a $8.02 price objective for the company. in a research report on Monday, August 7th. J P Morgan Chase & Co increased their price objective on GoPro from $13.00 to $15.00 and gave the stock an “overweight” rating in a research report on Thursday, September 7th. Oppenheimer Holdings, Inc. reiterated a “market perform” rating on shares of GoPro in a research report on Wednesday, August 9th. Finally, Wedbush reiterated a “neutral” rating and issued a $10.00 price objective (down from $11.48) on shares of GoPro in a research report on Friday, September 29th. Six equities research analysts have rated the stock with a sell rating, thirteen have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $9.67.

In related news, Director Anthony John Bates sold 25,529 shares of the stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $10.17, for a total value of $259,629.93. Following the transaction, the director now owns 116,482 shares of the company’s stock, valued at $1,184,621.94. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO Charles J. Prober sold 24,918 shares of the stock in a transaction on Monday, September 11th. The shares were sold at an average price of $11.00, for a total value of $274,098.00. Following the completion of the transaction, the chief operating officer now directly owns 148,493 shares in the company, valued at approximately $1,633,423. The disclosure for this sale can be found here. Insiders sold 51,344 shares of company stock worth $542,205 in the last three months. 28.58% of the stock is currently owned by corporate insiders.

A number of large investors have recently bought and sold shares of GPRO. Vanguard Group Inc. increased its holdings in GoPro by 6.7% in the second quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock valued at $57,672,000 after buying an additional 444,109 shares during the last quarter. Capital Fund Management S.A. increased its holdings in GoPro by 338.7% in the second quarter. Capital Fund Management S.A. now owns 456,870 shares of the company’s stock valued at $3,714,000 after buying an additional 352,740 shares during the last quarter. Wells Fargo & Company MN increased 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 valued at $2,376,000 after buying an additional 212,486 shares during the last quarter. Engineers Gate Manager LP increased its holdings in GoPro by 1,324.2% in the second quarter. Engineers Gate Manager LP now owns 193,688 shares of the company’s stock valued at $1,575,000 after buying an additional 180,088 shares during the last quarter. Finally, State Street Corp increased its holdings in GoPro by 6.7% in the second quarter. State Street Corp now owns 1,914,069 shares of the company’s stock valued at $15,563,000 after buying an additional 120,250 shares during the last quarter. 24.26% of the stock is currently owned by hedge funds and other institutional investors.

GoPro (NASDAQ:GPRO) last issued its quarterly earnings results on Thursday, August 3rd. The company reported ($0.14) EPS for the quarter, topping the 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 analysts’ expectations of $268.94 million. During the same quarter in the previous year, the company earned ($0.52) EPS. GoPro’s revenue was up 34.3% on a year-over-year basis.

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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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