Short Interest in GoPro, Inc. (GPRO) Increases By 10.1%
GoPro, Inc. (NASDAQ:GPRO) saw a large growth in short interest during the month of October. As of October 31st, there was short interest totalling 33,787,127 shares, a growth of 10.1% from the October 13th total of 30,690,891 shares. Currently, 31.9% of the shares of the stock are short sold. Based on an average daily volume of 6,511,025 shares, the days-to-cover ratio is currently 5.2 days.
In related news, Director Anthony John Bates sold 25,529 shares of GoPro stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $10.17, for a total transaction of $259,629.93. Following the sale, the director now directly owns 116,482 shares of the company’s stock, valued at approximately $1,184,621.94. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Charles J. Prober sold 24,918 shares of GoPro stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $11.00, for a total transaction of $274,098.00. Following the sale, the chief operating officer now directly owns 148,493 shares in the company, valued at $1,633,423. The disclosure for this sale can be found here. Insiders have sold a total of 731,687 shares of company stock worth $6,823,098 over the last ninety days. 28.58% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Nomura Holdings Inc. increased its stake in shares of GoPro by 5.4% in the 2nd quarter. Nomura Holdings Inc. now owns 13,769 shares of the company’s stock valued at $112,000 after acquiring an additional 704 shares in the last quarter. Legal & General Group Plc increased its stake in shares of GoPro by 2.3% in the 2nd quarter. Legal & General Group Plc now owns 34,526 shares of the company’s stock valued at $281,000 after acquiring an additional 763 shares in the last quarter. Stifel Financial Corp increased its stake in shares of GoPro by 1.4% in the 2nd quarter. Stifel Financial Corp now owns 59,343 shares of the company’s stock valued at $482,000 after acquiring an additional 813 shares in the last quarter. Nationwide Fund Advisors increased its stake in shares of GoPro by 0.8% in the 2nd quarter. Nationwide Fund Advisors now owns 111,160 shares of the company’s stock valued at $904,000 after acquiring an additional 900 shares in the last quarter. Finally, Amalgamated Bank increased its stake in shares of GoPro by 14.6% in the 2nd quarter. Amalgamated Bank now owns 14,564 shares of the company’s stock valued at $118,000 after acquiring an additional 1,858 shares in the last quarter. Institutional investors own 24.26% of the company’s stock.
Shares of GoPro (NASDAQ GPRO) opened at $8.51 on Friday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.13 and a current ratio of 1.65. GoPro has a one year low of $7.14 and a one year high of $11.89.
Several equities research analysts recently issued reports on GPRO shares. Wedbush reaffirmed a “neutral” rating on shares of GoPro in a report on Friday, July 28th. Morgan Stanley raised shares of GoPro from an “underweight” rating to an “equal weight” rating and set a $7.50 price target on the stock in a report on Monday, July 31st. They noted that the move was a valuation call. Zacks Investment Research raised shares of GoPro from a “hold” rating to a “buy” rating and set a $12.00 price target on the stock in a report on Wednesday, October 4th. Citigroup Inc. decreased their price target on shares of GoPro from $11.00 to $10.00 and set a “neutral” rating on the stock in a report on Thursday, November 2nd. Finally, Oppenheimer Holdings, Inc. reiterated a “hold” rating on shares of GoPro in a research report on Friday, September 29th. Six equities research analysts have rated the stock with a sell rating, eleven have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. GoPro currently has a consensus rating of “Hold” and a consensus target price of $9.68.
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GoPro Company Profile
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.
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