GoPro Inc (NASDAQ:GPRO) – Investment analysts at Wedbush reduced their FY2017 earnings per share (EPS) estimates for shares of GoPro in a note issued to investors on Tuesday. Wedbush analyst A. Reese now expects that the company will post earnings of ($0.57) per share for the year, down from their previous forecast of ($0.27). Wedbush has a “Neutral” rating and a $6.00 price target on the stock. Wedbush also issued estimates for GoPro’s Q4 2017 earnings at $0.07 EPS, Q1 2018 earnings at ($0.35) EPS, Q2 2018 earnings at ($0.12) EPS, Q3 2018 earnings at ($0.03) EPS, Q4 2018 earnings at $0.00 EPS and FY2018 earnings at ($0.46) EPS.
A number of other research firms also recently issued reports on GPRO. Vetr downgraded 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. Oppenheimer restated a “hold” rating on shares of GoPro in a research note on Friday, September 29th. Zacks Investment Research upgraded GoPro from a “hold” rating to a “buy” rating and set a $12.00 price target for the company in a research note on Wednesday, October 4th. Dougherty & Co boosted their price target on GoPro from $5.00 to $7.00 and gave the company a “sell” rating in a research note on Monday, October 2nd. Finally, Citigroup cut their price target on GoPro from $11.00 to $10.00 and set a “neutral” rating for the company in a research note on Thursday, November 2nd. Seven research analysts have rated the stock with a sell rating, twelve have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus target price of $8.74.
A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. raised its holdings in shares of GoPro by 6.7% during the 2nd quarter. Vanguard Group Inc. now owns 7,093,763 shares of the company’s stock worth $57,672,000 after acquiring an additional 444,109 shares in the last quarter. State Street Corp raised its holdings in shares of GoPro by 6.7% during the 2nd quarter. State Street Corp now owns 1,914,069 shares of the company’s stock worth $15,563,000 after acquiring an additional 120,250 shares in the last quarter. Fuller & Thaler Asset Management Inc. purchased a new stake in shares of GoPro during the 3rd quarter worth approximately $7,495,000. Schwab Charles Investment Management Inc. raised its holdings in shares of GoPro by 11.7% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 621,960 shares of the company’s stock worth $6,848,000 after acquiring an additional 65,097 shares in the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of GoPro by 2.2% during the 2nd quarter. JPMorgan Chase & Co. now owns 573,002 shares of the company’s stock worth $4,658,000 after acquiring an additional 12,530 shares in the last quarter. 26.07% of the stock is currently owned by institutional investors.
In related news, CEO Nicholas Woodman sold 515,000 shares of the business’s 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 transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Anthony John Bates sold 17,023 shares of the business’s stock in a transaction that occurred on Wednesday, December 6th. The stock was sold at an average price of $7.98, for a total value of $135,843.54. Following the completion of the transaction, the director now directly owns 99,459 shares in the company, valued at $793,682.82. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 704,907 shares of company stock worth $6,478,800. Insiders own 28.58% 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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