BidaskClub Downgrades GoPro (GPRO) to Strong Sell

BidaskClub lowered shares of GoPro (NASDAQ:GPRO) from a sell rating to a strong sell rating in a report issued on Saturday morning.

A number of other equities analysts have also commented on the stock. J P Morgan Chase & Co increased their price target on shares of GoPro from $13.00 to $15.00 and gave the stock an overweight rating in a report on Thursday, September 7th. Wedbush reissued a neutral rating on shares of GoPro in a report on Thursday, October 26th. Vetr raised shares of GoPro from a sell rating to a strong-buy rating and set a $11.55 price objective for the company in a research note on Thursday, October 19th. Longbow Research raised shares of GoPro from a neutral rating to a buy rating and upped their price objective 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, Morgan Stanley upped their price objective on shares of GoPro from $8.50 to $9.50 and gave the company an equal weight rating in a research note on Friday, September 8th. Six equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. The company has an average rating of Hold and a consensus target price of $9.68.

GoPro (NASDAQ GPRO) opened at $8.03 on Friday. GoPro has a twelve month low of $7.14 and a twelve month high of $11.89. The company has a current ratio of 1.65, a quick ratio of 1.08 and a debt-to-equity ratio of 0.38.

In other GoPro news, CFO Brian Mcgee sold 7,541 shares of the stock in a transaction on Thursday, November 16th. The shares were sold at an average price of $8.23, for a total transaction of $62,062.43. Following the completion of the sale, the chief financial officer now owns 79,167 shares of the company’s stock, valued at approximately $651,544.41. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Nicholas Woodman sold 165,343 shares of the stock in a transaction on Monday, November 6th. The shares were sold at an average price of $9.02, for a total transaction of $1,491,393.86. The disclosure for this sale can be found here. Insiders sold a total of 704,907 shares of company stock valued at $6,478,800 in the last ninety days. 28.58% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the business. Essex Investment Management Co. LLC purchased a new stake in GoPro during the 3rd quarter valued at $122,000. Principal Financial Group Inc. purchased a new stake in GoPro during the 3rd quarter valued at $139,000. Nomura Holdings Inc. boosted its position in GoPro by 5.4% during the 2nd quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after buying an additional 704 shares during the period. Amalgamated Bank boosted its position in GoPro by 14.6% during the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock valued at $118,000 after buying an additional 1,858 shares during the period. Finally, Harel Insurance Investments & Financial Services Ltd. boosted its position in GoPro by 195.5% during the 2nd quarter. Harel Insurance Investments & Financial Services Ltd. now owns 16,250 shares of the company’s stock valued at $132,000 after buying an additional 10,750 shares during the period. 26.09% of the stock is owned by institutional investors and hedge funds.

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About GoPro

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.

Analyst Recommendations for GoPro (NASDAQ:GPRO)

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