GoPro (GPRO) Downgraded to “Strong Sell” at BidaskClub

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

GPRO has been the subject of several other reports. Longbow Research upgraded GoPro from a neutral rating to a buy rating and increased their target price for the company from $9.60 to $13.00 in a report on Wednesday, October 18th. They noted that the move was a valuation call. Zacks Investment Research upgraded GoPro from a hold rating to a buy rating and set a $12.00 target price for the company in a report on Wednesday, October 4th. Morgan Stanley increased their target price on GoPro from $8.50 to $9.50 and gave the company an equal weight rating in a report on Friday, September 8th. Vetr cut GoPro from a buy rating to a hold rating and set a $11.84 target price for the company. in a report on Monday, September 18th. Finally, Oppenheimer restated a hold rating on shares of GoPro in a report on Monday, September 11th. Six analysts have rated the stock with a sell rating, twelve have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of Hold and a consensus target price of $9.68.

Shares of GoPro (GPRO) traded up $0.03 during trading on Friday, hitting $8.02. The stock had a trading volume of 3,175,210 shares, compared to its average volume of 2,993,067. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.08 and a current ratio of 1.65. GoPro has a 12-month low of $7.14 and a 12-month high of $11.89.

In other GoPro news, CFO Brian Mcgee sold 7,541 shares of the stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $8.23, for a total value of $62,062.43. Following the completion of the sale, the chief financial officer now owns 79,167 shares in the company, valued at approximately $651,544.41. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Nicholas Woodman sold 515,000 shares of the stock in a transaction that occurred on Friday, November 3rd. The stock was sold at an average price of $9.30, for a total value of $4,789,500.00. The disclosure for this sale can be found here. In the last quarter, insiders sold 729,825 shares of company stock valued at $6,752,898. Company insiders own 28.58% of the company’s stock.

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

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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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