GoPro’s (GPRO) Neutral Rating Reaffirmed at Wedbush

Wedbush restated their neutral rating on shares of GoPro Inc (NASDAQ:GPRO) in a research report released on Friday.

Several other brokerages have also issued reports on GPRO. Robert W. Baird lowered shares of GoPro from a neutral rating to an underperform rating and dropped their target price for the company from $10.00 to $6.00 in a research report on Friday, February 3rd. Stifel Nicolaus reiterated a hold rating and set a $9.00 target price (down from $10.00) on shares of GoPro in a research report on Thursday. Dougherty & Co reiterated a sell rating and set a $6.00 target price on shares of GoPro in a research report on Tuesday, December 13th. Zacks Investment Research lowered shares of GoPro from a hold rating to a sell rating in a research report on Monday, January 30th. Finally, Pacific Crest reiterated a hold rating on shares of GoPro in a research report on Tuesday, January 24th. Eight analysts have rated the stock with a sell rating, eleven have assigned a hold rating and four have issued a buy rating to the stock. The company has a consensus rating of Hold and an average target price of $10.24.

GoPro (NASDAQ:GPRO) traded down 0.93% during midday trading on Friday, hitting $8.49. 1,150,638 shares of the stock traded hands. GoPro has a 52 week low of $7.14 and a 52 week high of $17.68. The stock’s 50-day moving average price is $9.09 and its 200 day moving average price is $11.18. The company’s market capitalization is $1.21 billion.

GoPro (NASDAQ:GPRO) last announced its earnings results on Thursday, February 2nd. The company reported $0.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.22 by $0.07. GoPro had a negative net margin of 35.35% and a negative return on equity of 44.14%. The business earned $540.62 million during the quarter, compared to analyst estimates of $585.31 million. During the same period in the previous year, the business posted ($0.08) earnings per share. GoPro’s revenue for the quarter was up 23.8% on a year-over-year basis. On average, equities research analysts predict that GoPro will post ($0.17) EPS for the current year.

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In related news, Director Anthony John Bates sold 41,077 shares of GoPro stock in a transaction on Monday, March 6th. The shares were sold at an average price of $8.19, for a total value of $336,420.63. Following the transaction, the director now directly owns 208,617 shares of the company’s stock, valued at $1,708,573.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, General Counsel Sharon S. Zezima sold 6,297 shares of GoPro stock in a transaction on Friday, February 17th. The stock was sold at an average price of $9.16, for a total transaction of $57,680.52. Following the completion of the transaction, the general counsel now directly owns 70,662 shares in the company, valued at $647,263.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 84,668 shares of company stock worth $738,432. 28.69% of the stock is owned by insiders.

Several hedge funds and other institutional investors have recently modified their holdings of GPRO. Gilder Gagnon Howe & Co. LLC purchased a new position in shares of GoPro during the third quarter valued at approximately $109,000. MSI Financial Services Inc increased its position in shares of GoPro by 42.9% in the third quarter. MSI Financial Services Inc now owns 6,812 shares of the company’s stock valued at $114,000 after buying an additional 2,044 shares during the last quarter. Seven Eight Capital LP purchased a new position in shares of GoPro during the fourth quarter valued at approximately $118,000. NEXT Financial Group Inc increased its position in shares of GoPro by 73.5% in the third quarter. NEXT Financial Group Inc now owns 7,175 shares of the company’s stock valued at $120,000 after buying an additional 3,040 shares during the last quarter. Finally, Allianz Asset Management AG purchased a new position in shares of GoPro during the fourth quarter valued at approximately $124,000. 33.16% of the stock is currently owned by institutional investors.

About GoPro

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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