GoPro Inc (GPRO) Stake Decreased by BNP Paribas Arbitrage SA

BNP Paribas Arbitrage SA cut its position in GoPro Inc (NASDAQ:GPRO) by 50.1% during the first quarter, Holdings Channel reports. The fund owned 176,999 shares of the company’s stock after selling 177,460 shares during the period. BNP Paribas Arbitrage SA’s holdings in GoPro were worth $1,540,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the company. Gilder Gagnon Howe & Co. LLC acquired a new stake in shares of GoPro during the third quarter worth about $109,000. Seven Eight Capital LP purchased a new position in shares of GoPro during the fourth quarter worth $118,000. Allianz Asset Management AG purchased a new position in shares of GoPro during the fourth quarter worth $124,000. Frontier Wealth Management LLC purchased a new position in shares of GoPro during the fourth quarter worth $132,000. Finally, Financial Architects Inc raised its position in shares of GoPro by 15.2% in the first quarter. Financial Architects Inc now owns 15,200 shares of the company’s stock worth $132,000 after buying an additional 2,000 shares during the last quarter. Institutional investors and hedge funds own 33.16% of the company’s stock.

Institutional Ownership by Quarter for GoPro (NASDAQ:GPRO)

Shares of GoPro Inc (NASDAQ:GPRO) traded down 1.16% during mid-day trading on Wednesday, reaching $8.53. 833,125 shares of the company’s stock traded hands. The company’s 50-day moving average price is $8.64 and its 200-day moving average price is $9.09. The stock’s market capitalization is $1.23 billion. GoPro Inc has a 12-month low of $7.14 and a 12-month high of $17.68. GoPro also was the target of some unusual options trading activity on Monday. Traders acquired 8,763 call options on the stock. This is an increase of approximately 195% compared to the typical volume of 2,975 call options.

GoPro (NASDAQ:GPRO) last posted its quarterly earnings results on Thursday, April 27th. The company reported ($0.53) earnings per share for the quarter, beating the consensus estimate of ($0.54) by $0.01. GoPro had a negative net margin of 35.35% and a negative return on equity of 44.14%. The business had revenue of $218.61 million during the quarter, compared to analysts’ expectations of $206.23 million. During the same quarter in the prior year, the company posted ($0.63) EPS. The business’s revenue for the quarter was up 19.1% on a year-over-year basis. Analysts anticipate that GoPro Inc will post ($0.11) earnings per share for the current year.

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A number of brokerages have recently weighed in on GPRO. Zacks Investment Research lowered GoPro from a “buy” rating to a “hold” rating in a research report on Tuesday, May 16th. ValuEngine lowered GoPro from a “sell” rating to a “strong sell” rating in a research report on Thursday, May 11th. JPMorgan Chase & Co. set a $12.00 price objective on GoPro and gave the company a “buy” rating in a research report on Sunday, April 30th. Oppenheimer Holdings Inc. restated a “market perform” rating on shares of GoPro in a research report on Monday, May 1st. Finally, Stifel Nicolaus restated a “hold” rating and set a $9.00 price objective on shares of GoPro in a research report on Saturday, April 29th. Nine analysts have rated the stock with a sell rating, twelve have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus target price of $10.25.

In other news, Director Anthony John Bates sold 41,077 shares of the stock in a transaction that occurred 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 completion of the sale, the director now owns 208,617 shares of the company’s stock, valued at approximately $1,708,573.23. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Corporate insiders own 28.69% of the company’s stock.

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.

12 Month Chart for NASDAQ:GPRO

Want to see what other hedge funds are holding GPRO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for GoPro Inc (NASDAQ:GPRO).

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