BB&T Securities LLC Invests $233,000 in GoPro Inc (GPRO)

BB&T Securities LLC bought a new stake in GoPro Inc (NASDAQ:GPRO) during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 36,200 shares of the company’s stock, valued at approximately $233,000.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. acquired a new position in shares of GoPro in the 2nd quarter valued at $172,000. Trexquant Investment LP acquired a new position in shares of GoPro in the 2nd quarter valued at $336,000. Cim Investment Mangement Inc. increased its position in shares of GoPro by 80.1% in the 2nd quarter. Cim Investment Mangement Inc. now owns 54,190 shares of the company’s stock valued at $349,000 after acquiring an additional 24,105 shares during the period. BlueMountain Capital Management LLC increased its position in shares of GoPro by 168.6% in the 2nd quarter. BlueMountain Capital Management LLC now owns 54,903 shares of the company’s stock valued at $354,000 after acquiring an additional 34,460 shares during the period. Finally, MUFG Securities EMEA plc increased its position in shares of GoPro by 113.1% in the 2nd quarter. MUFG Securities EMEA plc now owns 60,287 shares of the company’s stock valued at $388,000 after acquiring an additional 32,000 shares during the period. 30.88% of the stock is currently owned by hedge funds and other institutional investors.

Shares of GPRO opened at $6.62 on Wednesday. The stock has a market cap of $956.83 million, a price-to-earnings ratio of -6.08 and a beta of 0.23. The company has a debt-to-equity ratio of 0.72, a quick ratio of 1.15 and a current ratio of 1.49. GoPro Inc has a fifty-two week low of $4.42 and a fifty-two week high of $11.89.

GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Thursday, August 2nd. The company reported ($0.15) earnings per share for the quarter, topping the consensus estimate of ($0.22) by $0.07. The company had revenue of $282.70 million for the quarter, compared to the consensus estimate of $270.27 million. GoPro had a negative return on equity of 47.64% and a negative net margin of 13.47%. The firm’s revenue for the quarter was down 4.7% compared to the same quarter last year. During the same period last year, the firm earned ($0.09) EPS.

In other news, CFO Brian Mcgee sold 5,452 shares of the stock in a transaction dated Thursday, August 16th. The shares were sold at an average price of $5.86, for a total transaction of $31,948.72. Following the sale, the chief financial officer now directly owns 108,411 shares of the company’s stock, valued at approximately $635,288.46. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Corporate insiders own 26.61% of the company’s stock.

Several equities analysts recently issued reports on the company. Wedbush reissued a “neutral” rating and issued a $6.00 target price on shares of GoPro in a research report on Friday, July 27th. BidaskClub raised GoPro from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, June 13th. ValuEngine downgraded GoPro from a “sell” rating to a “strong sell” rating in a research report on Monday, July 30th. Longbow Research reaffirmed a “hold” rating on shares of GoPro in a research report on Friday, September 21st. Finally, Zacks Investment Research downgraded GoPro from a “buy” rating to a “hold” rating in a research report on Tuesday, July 3rd. Four analysts have rated the stock with a sell rating and nine have given a hold rating to the stock. GoPro has a consensus rating of “Hold” and a consensus target price of $6.98.

GoPro Company Profile

GoPro, Inc develops and sells cameras, and mountable and wearable accessories in the United States and internationally. The company offers HERO5 and HERO6, which are cloud-connected line of cameras; Fusion, a waterproof spherical camera; GoPro Plus, a cloud-based storage solution that enables subscribers to access, edit, and share content; Quik, a mobile editing app, as well as desktop app for editing options for power users; GoPro App, a mobile app that allows users to preview and play back photos and videos, control GoPro cameras, and share content; and Karma Grip, a handheld or body-mountable camera stabilizer that capture zero-shake smooth video.

Further Reading: Price to Earnings Ratio (PE)

Institutional Ownership by Quarter for GoPro (NASDAQ:GPRO)

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