Versor Investments LP cut its stake in GoPro, Inc. (NASDAQ:GPRO – Free Report) by 44.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 28,400 shares of the company’s stock after selling 22,700 shares during the period. Versor Investments LP’s holdings in GoPro were worth $143,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in GPRO. FMR LLC raised its holdings in GoPro by 27.4% in the 2nd quarter. FMR LLC now owns 5,278,262 shares of the company’s stock valued at $29,189,000 after acquiring an additional 1,133,819 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of GoPro by 25.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 5,555,843 shares of the company’s stock worth $27,667,000 after buying an additional 1,116,207 shares in the last quarter. Two Sigma Investments LP raised its holdings in shares of GoPro by 426.5% during the 3rd quarter. Two Sigma Investments LP now owns 1,000,827 shares of the company’s stock worth $4,934,000 after buying an additional 810,727 shares in the last quarter. Renaissance Technologies LLC raised its holdings in shares of GoPro by 61.3% during the 4th quarter. Renaissance Technologies LLC now owns 1,526,457 shares of the company’s stock worth $7,602,000 after buying an additional 580,257 shares in the last quarter. Finally, Arrowstreet Capital Limited Partnership acquired a new position in shares of GoPro during the 4th quarter worth $2,813,000. 52.97% of the stock is owned by institutional investors and hedge funds.
Insider Activity at GoPro
In related news, CFO Brian Mcgee sold 13,376 shares of the company’s stock in a transaction dated Thursday, May 25th. The stock was sold at an average price of $4.06, for a total transaction of $54,306.56. Following the sale, the chief financial officer now owns 392,468 shares in the company, valued at approximately $1,593,420.08. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 18.44% of the stock is owned by corporate insiders.
GoPro Trading Up 2.6 %
GoPro (NASDAQ:GPRO – Get Free Report) last released 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). GoPro had a negative net margin of 2.54% and a negative return on equity of 3.85%. The company had revenue of $174.72 million during the quarter, compared to the consensus estimate of $165.41 million. On average, analysts expect that GoPro, Inc. will post -0.14 EPS for the current year.
Wall Street Analyst Weigh In
A number of research firms have recently commented on GPRO. StockNews.com began coverage on GoPro in a report on Thursday, May 18th. They set a “hold” rating for the company. Morgan Stanley lowered their target price on GoPro from $4.60 to $4.30 and set an “equal weight” rating for the company in a report on Friday, August 4th. TheStreet cut GoPro from a “c” rating to a “d+” rating in a report on Friday, May 19th. Finally, Wedbush reaffirmed an “outperform” rating and issued a $6.00 target price on shares of GoPro in a report on Monday, July 31st. Four equities research analysts have rated the stock with a hold rating and one has given a buy rating to the company. According to MarketBeat.com, GoPro has an average rating of “Hold” and a consensus target price of $5.43.
View Our Latest Stock Report on GPRO
GoPro Profile
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.
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