GoPro Inc (GPRO) Short Interest Update
GoPro Inc (NASDAQ:GPRO) was the target of a significant drop in short interest during the month of February. As of February 28th, there was short interest totalling 37,657,004 shares, a drop of 9.0% from the February 15th total of 41,384,959 shares. Approximately 33.2% of the shares of the company are sold short. Based on an average trading volume of 3,857,412 shares, the short-interest ratio is presently 9.8 days.
In other news, CEO Nicholas Woodman sold 1,400,000 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $5.94, for a total transaction of $8,316,000.00. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Brian Mcgee sold 19,526 shares of the firm’s stock in a transaction that occurred on Wednesday, February 20th. The stock was sold at an average price of $6.04, for a total transaction of $117,937.04. The disclosure for this sale can be found here. Company insiders own 26.61% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of GPRO. Northern Trust Corp boosted its position in shares of GoPro by 5.4% during the 2nd quarter. Northern Trust Corp now owns 1,384,607 shares of the company’s stock worth $8,917,000 after purchasing an additional 70,968 shares in the last quarter. Daiwa Securities Group Inc. acquired a new position in shares of GoPro during the 3rd quarter worth $120,000. Wells Fargo & Company MN raised its stake in shares of GoPro by 1.8% during the 3rd quarter. Wells Fargo & Company MN now owns 590,514 shares of the company’s stock worth $4,251,000 after buying an additional 10,471 shares during the last quarter. SG Americas Securities LLC raised its stake in shares of GoPro by 30.4% during the 3rd quarter. SG Americas Securities LLC now owns 88,542 shares of the company’s stock worth $638,000 after buying an additional 20,633 shares during the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of GoPro by 215.8% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 16,981 shares of the company’s stock worth $122,000 after buying an additional 11,604 shares during the last quarter. Institutional investors own 42.35% of the company’s stock.
GoPro (NASDAQ:GPRO) last posted its quarterly earnings data on Wednesday, February 6th. The company reported $0.25 earnings per share for the quarter, beating analysts’ consensus estimates of $0.19 by $0.06. GoPro had a negative net margin of 9.49% and a negative return on equity of 34.77%. The firm had revenue of $377.38 million for the quarter, compared to analyst estimates of $374.28 million. During the same period last year, the firm posted ($0.30) EPS. GoPro’s quarterly revenue was up 12.7% on a year-over-year basis. Analysts forecast that GoPro will post 0.06 earnings per share for the current fiscal year.
A number of research firms recently weighed in on GPRO. Zacks Investment Research upgraded shares of GoPro from a “hold” rating to a “buy” rating and set a $5.75 price objective on the stock in a research report on Friday, February 8th. BidaskClub upgraded shares of GoPro from a “hold” rating to a “buy” rating in a research report on Wednesday, January 9th. ValuEngine upgraded shares of GoPro from a “sell” rating to a “hold” rating in a research report on Tuesday, January 15th. Finally, Wedbush reiterated a “neutral” rating and issued a $6.00 price objective on shares of GoPro in a research report on Thursday, January 31st. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and an average price target of $6.53.
COPYRIGHT VIOLATION NOTICE: This story was originally posted by The Cerbat Gem and is owned by of The Cerbat Gem. If you are accessing this story on another site, it was stolen and republished in violation of U.S. & international copyright legislation. The legal version of this story can be read at https://www.thecerbatgem.com/2019/03/14/gopro-inc-gpro-short-interest-update.html.
GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers HERO7, a cloud-connected line of camera; 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: Consumer behavior in bull markets
Receive News & Ratings for GoPro Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for GoPro and related companies with MarketBeat.com's FREE daily email newsletter.