GoPro (GPRO) Trading Down 12.8% on Analyst Downgrade

GoPro Inc (NASDAQ:GPRO) traded down 12.8% on Tuesday after Citigroup lowered their price target on the stock to $7.00. Citigroup currently has a neutral rating on the stock. GoPro traded as low as $5.04 and last traded at $6.56. 59,758,500 shares were traded during mid-day trading, an increase of 287% from the average session volume of 15,452,740 shares. The stock had previously closed at $7.52.

GPRO has been the subject of several other research reports. Vetr cut GoPro from a “buy” rating to a “hold” rating and set a $11.84 price target for the company. in a research note on Monday, September 18th. Wedbush reissued a “neutral” rating on shares of GoPro in a research note on Thursday, October 26th. Dougherty & Co reissued a “sell” rating and issued a $4.00 price target (down previously from $7.00) on shares of GoPro in a research note on Tuesday. Longbow Research raised 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. Finally, Zacks Investment Research cut GoPro from a “buy” rating to a “hold” rating in a research note on Wednesday, November 29th. Six analysts have rated the stock with a sell rating, thirteen have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. The company currently has an average rating of “Hold” and an average price target of $8.74.

In other GoPro news, CFO Brian Mcgee sold 7,541 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $8.23, for a total value of $62,062.43. Following the transaction, the chief financial officer now owns 79,167 shares in the company, valued at $651,544.41. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Nicholas Woodman sold 515,000 shares of the stock in a transaction that occurred on 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. In the last 90 days, insiders have sold 704,907 shares of company stock worth $6,478,800. 28.58% of the stock is owned by corporate insiders.

A number of large investors have recently made changes to their positions in the business. Nomura Holdings Inc. boosted its holdings 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 acquiring an additional 704 shares in the last quarter. Legal & General Group Plc boosted its holdings in GoPro by 2.3% in the second 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 boosted its holdings in GoPro by 1.4% in the second 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 boosted its holdings in GoPro by 0.8% in the second 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 boosted its holdings 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 acquiring an additional 1,858 shares in the last quarter. Institutional investors and hedge funds own 26.07% of the company’s stock.

The stock has a market cap of $898.39, a price-to-earnings ratio of -3.56, a PEG ratio of 8.36 and a beta of 0.53. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.65 and a quick ratio of 1.08.

COPYRIGHT VIOLATION NOTICE: “GoPro (GPRO) Trading Down 12.8% on Analyst Downgrade” was posted by Community Financial News and is owned by of Community Financial News. If you are reading this article on another website, it was illegally copied and republished in violation of international trademark and copyright laws. The original version of this article can be read at https://www.com-unik.info/2018/01/09/gopro-gpro-trading-down-12-8-on-analyst-downgrade.html.

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.

Receive News & Ratings for GoPro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoPro and related companies with MarketBeat.com's FREE daily email newsletter.

Comments

Leave a Reply


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on Google Plus
share on reddit