Prelude Capital Management LLC lowered its holdings in shares of GoPro, Inc. (NASDAQ:GPRO – Get Rating) by 3.9% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 360,321 shares of the company’s stock after selling 14,641 shares during the period. Prelude Capital Management LLC owned about 0.23% of GoPro worth $3,074,000 as of its most recent filing with the SEC.
A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Charles Schwab Investment Management Inc. grew its position in GoPro by 4.2% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 945,427 shares of the company’s stock worth $8,065,000 after acquiring an additional 38,178 shares during the last quarter. Lazard Asset Management LLC grew its position in GoPro by 198.7% during the 1st quarter. Lazard Asset Management LLC now owns 4,526 shares of the company’s stock worth $38,000 after acquiring an additional 3,011 shares during the last quarter. Federated Hermes Inc. bought a new stake in GoPro during the 1st quarter worth $515,000. Mackenzie Financial Corp bought a new stake in GoPro during the 1st quarter worth $498,000. Finally, Lord Abbett & CO. LLC grew its position in GoPro by 23.7% during the 1st quarter. Lord Abbett & CO. LLC now owns 1,212,357 shares of the company’s stock worth $10,341,000 after acquiring an additional 232,011 shares during the last quarter. Institutional investors own 57.17% of the company’s stock.
Insider Activity at GoPro
In related news, SVP Dean Jahnke sold 5,896 shares of the company’s stock in a transaction dated Friday, June 17th. The stock was sold at an average price of $5.85, for a total transaction of $34,491.60. Following the sale, the senior vice president now owns 262,428 shares in the company, valued at approximately $1,535,203.80. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 17.95% of the stock is owned by corporate insiders.
GoPro Trading Up 2.6 %
GoPro (NASDAQ:GPRO – Get Rating) last announced its earnings results on Thursday, August 4th. The company reported $0.08 EPS for the quarter, beating the consensus estimate of $0.06 by $0.02. GoPro had a return on equity of 19.66% and a net margin of 31.70%. The company had revenue of $250.69 million for the quarter, compared to analyst estimates of $238.72 million. During the same quarter in the prior year, the company earned $0.07 EPS. The firm’s revenue for the quarter was up .4% compared to the same quarter last year. On average, analysts expect that GoPro, Inc. will post 0.54 EPS for the current year.
Analysts Set New Price Targets
GPRO has been the topic of a number of research reports. Morgan Stanley reduced their price objective on GoPro from $11.00 to $8.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 14th. Oppenheimer reduced their price objective on GoPro from $12.00 to $11.00 and set an “outperform” rating on the stock in a research report on Monday, August 8th. Finally, Wedbush reiterated an “outperform” rating and issued a $10.00 price target on shares of GoPro in a research report on Friday, August 5th. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $10.67.
GoPro Company Profile
GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the United States and internationally. The company offers cloud connected HERO10 Black, HERO9 Black, and HERO8 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro, a subscription service that includes full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription provides access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik app, a mobile app that enable users to get their favorite photos and videos with footage from any phone or camera.
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