GoPro, Inc. (NASDAQ:GPRO – Get Free Report)’s share price reached a new 52-week low during trading on Friday after Morgan Stanley lowered their price target on the stock from $4.60 to $4.30. Morgan Stanley currently has an equal weight rating on the stock. GoPro traded as low as $3.69 and last traded at $3.89, with a volume of 1087431 shares trading hands. The stock had previously closed at $4.12.
GPRO has been the subject of several other research reports. TheStreet cut GoPro from a “c” rating to a “d+” rating in a research note on Friday, May 19th. StockNews.com started coverage on GoPro in a research note on Thursday, May 18th. They set a “hold” rating for the company. Finally, Wedbush reaffirmed an “outperform” rating and set a $6.00 target price on shares of GoPro in a research note on Monday. Four analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $6.83.
Insider Buying and Selling at GoPro
In other GoPro news, CFO Brian Mcgee sold 13,376 shares of the firm’s stock in a transaction that occurred on Thursday, May 25th. The stock was sold at an average price of $4.06, for a total value of $54,306.56. Following the completion of the sale, the chief financial officer now owns 392,468 shares of the company’s stock, valued at $1,593,420.08. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 18.44% of the company’s stock.
Institutional Investors Weigh In On GoPro
A number of hedge funds have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. bought a new position in shares of GoPro in the first quarter valued at approximately $288,000. Advisor Group Holdings Inc. lifted its holdings in shares of GoPro by 5.5% in the first quarter. Advisor Group Holdings Inc. now owns 37,568 shares of the company’s stock valued at $320,000 after purchasing an additional 1,971 shares in the last quarter. Cetera Advisor Networks LLC bought a new stake in GoPro during the first quarter worth $126,000. MetLife Investment Management LLC lifted its holdings in GoPro by 88.8% during the first quarter. MetLife Investment Management LLC now owns 69,581 shares of the company’s stock worth $594,000 after acquiring an additional 32,735 shares during the period. Finally, Dimensional Fund Advisors LP lifted its holdings in GoPro by 11.4% during the first quarter. Dimensional Fund Advisors LP now owns 1,646,506 shares of the company’s stock worth $14,046,000 after acquiring an additional 169,135 shares during the period. Institutional investors and hedge funds own 52.97% of the company’s stock.
GoPro Stock Down 9.7 %
The stock has a fifty day moving average of $4.18 and a 200 day moving average of $4.70. The firm has a market capitalization of $579.03 million, a P/E ratio of -77.60 and a beta of 1.36. The company has a debt-to-equity ratio of 0.24, a current ratio of 2.14 and a quick ratio of 1.52.
GoPro (NASDAQ:GPRO – Get Free Report) last issued its quarterly earnings results on Tuesday, May 9th. The company reported ($0.23) EPS for the quarter, missing analysts’ consensus estimates of ($0.20) by ($0.03). The business had revenue of $174.72 million for the quarter, compared to the consensus estimate of $165.41 million. GoPro had a positive return on equity of 0.33% and a negative net margin of 0.64%. On average, research analysts anticipate that GoPro, Inc. will post -0.14 EPS for the current fiscal year.
About GoPro
GoPro, Inc engages in manufacturing and selling camera and camera accessories. The firm provides mountable and wearable cameras and accessories, which it refers to as capture devices. Its product brands include HERO9 Black, HERO8 Black, Max, HERO7 Black, HERO7 Silver, GoPro Plus, and GoPro App. The company was founded by Nicholas Woodman in 2002 and is headquartered in San Mateo, CA.