Essex Investment Management Co. LLC acquired a new stake in GoPro Inc. (NASDAQ:GPRO) during the second quarter, Holdings Channel reports. The institutional investor acquired 84,190 shares of the company’s stock, valued at approximately $910,000.
Several other hedge funds also recently modified their holdings of the company. Norges Bank bought a new stake in shares of GoPro during the fourth quarter valued at approximately $10,583,000. Commonwealth Equity Services Inc increased its stake in shares of GoPro by 204.9% in the first quarter. Commonwealth Equity Services Inc now owns 70,086 shares of the company’s stock valued at $838,000 after buying an additional 47,098 shares during the period. Nisa Investment Advisors L.L.C. bought a new stake in shares of GoPro during the first quarter valued at approximately $300,000. Allegis Investment Advisors LLC increased its stake in shares of GoPro by 1,413.3% in the first quarter. Allegis Investment Advisors LLC now owns 22,700 shares of the company’s stock valued at $271,000 after buying an additional 21,200 shares during the period. Finally, Motley Fool Wealth Management LLC increased its stake in shares of GoPro by 1.9% in the first quarter. Motley Fool Wealth Management LLC now owns 156,531 shares of the company’s stock valued at $1,872,000 after buying an additional 2,889 shares during the period. 28.46% of the stock is owned by hedge funds and other institutional investors.
GoPro Inc. (NASDAQ:GPRO) traded up 0.90% during midday trading on Tuesday, reaching $16.89. The company had a trading volume of 11,129,773 shares. The firm has a 50-day moving average price of $15.08 and a 200-day moving average price of $12.47. The company’s market capitalization is $2.36 billion. GoPro Inc. has a 52 week low of $8.62 and a 52 week high of $31.33.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings data on Wednesday, July 27th. The company reported ($0.52) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.58) by $0.06. GoPro had a negative net margin of 17.31% and a negative return on equity of 27.52%. The company earned $220.80 million during the quarter, compared to analyst estimates of $194.37 million. During the same period in the previous year, the business earned $0.35 EPS. The firm’s revenue for the quarter was down 47.4% on a year-over-year basis. Analysts expect that GoPro Inc. will post ($1.07) EPS for the current fiscal year.
Several analysts have recently commented on GPRO shares. Longbow Research started coverage on GoPro in a research note on Tuesday, June 14th. They issued a “neutral” rating and a $11.88 price objective for the company. Piper Jaffray Cos. reissued an “underweight” rating and issued a $6.50 price objective on shares of GoPro in a research note on Wednesday, June 15th. JPMorgan Chase & Co. reissued a “buy” rating and issued a $17.00 price objective on shares of GoPro in a research note on Friday, June 17th. Oppenheimer Holdings Inc. reissued a “market perform” rating and issued a $43.00 price objective on shares of GoPro in a research note on Friday, July 15th. Finally, Dougherty & Co reissued a “hold” rating on shares of GoPro in a research note on Monday, July 18th. Two equities research analysts have rated the stock with a sell rating, fifteen have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the company. The stock currently has a consensus rating of “Hold” and a consensus target price of $15.94.
In other GoPro news, President Anthony John Bates sold 9,704 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the completion of the sale, the president now directly owns 398,137 shares in the company, valued at approximately $5,637,619.92. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Michael E. Marks sold 40,000 shares of the business’s stock in a transaction on Monday, August 15th. The shares were sold at an average price of $15.58, for a total transaction of $623,200.00. The disclosure for this sale can be found here. Company insiders own 28.69% of the company’s stock.
GoPro Company Profile
GoPro, Inc produces mountable and wearable cameras (capture devices) and accessories. The Company’s products are sold globally through retailers, wholesale distributors and on its Website. It enables people to capture compelling, immersive photo and video content of themselves in their day to day life, as well as participating in their favorite activities.
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