CenterBook Partners LP cut its position in shares of GoPro, Inc. (NASDAQ:GPRO – Free Report) by 21.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 338,890 shares of the company’s stock after selling 93,387 shares during the period. CenterBook Partners LP owned 0.22% of GoPro worth $1,705,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Martingale Asset Management L P raised its stake in shares of GoPro by 5.0% in the 4th quarter. Martingale Asset Management L P now owns 156,992 shares of the company’s stock valued at $782,000 after acquiring an additional 7,520 shares in the last quarter. Public Employees Retirement Association of Colorado bought a new position in shares of GoPro in the 4th quarter valued at approximately $99,000. Verdad Advisers LP bought a new position in shares of GoPro in the 4th quarter valued at approximately $996,000. RIA Advisory Group LLC bought a new position in shares of GoPro in the 4th quarter valued at approximately $108,000. Finally, Alpine Global Management LLC bought a new position in shares of GoPro in the 4th quarter valued at approximately $87,000. 54.26% of the stock is owned by hedge funds and other institutional investors.
GoPro Price Performance
Shares of NASDAQ:GPRO opened at $3.44 on Monday. GoPro, Inc. has a 1-year low of $3.42 and a 1-year high of $6.57. The firm has a market capitalization of $525.38 million, a PE ratio of -19.11 and a beta of 1.36. The business’s 50 day moving average is $3.93 and its 200-day moving average is $4.31. The company has a current ratio of 2.01, a quick ratio of 1.49 and a debt-to-equity ratio of 0.25.
GoPro (NASDAQ:GPRO – Get Free Report) last announced its quarterly earnings data on Thursday, August 3rd. The company reported ($0.13) earnings per share for the quarter, hitting the consensus estimate of ($0.13). GoPro had a negative return on equity of 3.85% and a negative net margin of 2.54%. The company had revenue of $241.02 million for the quarter, compared to analyst estimates of $220.85 million. Sell-side analysts predict that GoPro, Inc. will post -0.46 earnings per share for the current year.
Analyst Ratings Changes
Several research analysts have commented on the company. Morgan Stanley dropped their price target on GoPro from $4.60 to $4.30 and set an “equal weight” rating on the stock in a research report on Friday, August 4th. StockNews.com assumed coverage on GoPro in a research report on Thursday, August 17th. They issued a “hold” rating on the stock. TheStreet downgraded GoPro from a “c” rating to a “d+” rating in a research report on Friday, May 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $6.00 price target on shares of GoPro in a research report on Monday, July 31st. Four equities research analysts have rated the stock with a hold rating and one has issued a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $5.43.
Insider Transactions at GoPro
In other news, CAO Charles Lafrades sold 7,571 shares of GoPro stock in a transaction that occurred on Wednesday, August 16th. The stock was sold at an average price of $3.67, for a total transaction of $27,785.57. Following the sale, the chief accounting officer now owns 105,640 shares of the company’s stock, valued at approximately $387,698.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.44% of the stock is owned by insiders.
About GoPro
GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, HERO9 Black, and HERO8 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro, a subscription service that includes full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik app, a mobile app that enable users to get their favorite photos and videos with footage from any phone or camera.