FuboTV (NYSE:FUBO) Stock Price Up 6.2% After Analyst Upgrade

FuboTV Inc. (NYSE:FUBO) shares shot up 6.2% during mid-day trading on Tuesday after Needham & Company LLC raised their price target on the stock from $2.00 to $3.50. Needham & Company LLC currently has a buy rating on the stock. FuboTV traded as high as $2.98 and last traded at $3.02. 15,380,051 shares were traded during trading, a decline of 73% from the average session volume of 57,433,832 shares. The stock had previously closed at $2.84.

FUBO has been the subject of several other research reports. Wedbush restated an “outperform” rating and set a $6.40 target price on shares of FuboTV in a research note on Friday, February 28th. Huber Research upgraded FuboTV to a “strong-buy” rating in a research note on Friday, January 31st. Finally, Roth Mkm reiterated a “neutral” rating and issued a $4.75 price objective (up previously from $2.00) on shares of FuboTV in a research report on Tuesday, January 7th. Three equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $4.39.

Insider Transactions at FuboTV

In other news, CEO David Gandler sold 1,425,888 shares of FuboTV stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.01, for a total value of $7,143,698.88. Following the completion of the sale, the chief executive officer now directly owns 346,817 shares of the company’s stock, valued at approximately $1,737,553.17. This trade represents a 80.44 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO John Janedis sold 25,823 shares of FuboTV stock in a transaction on Friday, February 21st. The shares were sold at an average price of $4.16, for a total value of $107,423.68. The disclosure for this sale can be found here. In the last ninety days, insiders sold 1,861,426 shares of company stock valued at $9,721,411. Corporate insiders own 7.00% of the company’s stock.

Institutional Investors Weigh In On FuboTV

Several hedge funds and other institutional investors have recently made changes to their positions in FUBO. Vanguard Group Inc. increased its stake in shares of FuboTV by 8.0% in the 4th quarter. Vanguard Group Inc. now owns 18,676,396 shares of the company’s stock valued at $23,532,000 after buying an additional 1,377,663 shares during the period. Renaissance Technologies LLC increased its stake in shares of FuboTV by 45.1% in the 4th quarter. Renaissance Technologies LLC now owns 4,324,700 shares of the company’s stock valued at $5,449,000 after buying an additional 1,344,956 shares during the period. Barclays PLC boosted its position in shares of FuboTV by 121.3% in the 3rd quarter. Barclays PLC now owns 1,256,459 shares of the company’s stock worth $1,784,000 after purchasing an additional 688,625 shares during the last quarter. Two Sigma Investments LP boosted its position in shares of FuboTV by 4,635.3% in the 4th quarter. Two Sigma Investments LP now owns 512,591 shares of the company’s stock worth $646,000 after purchasing an additional 501,766 shares during the last quarter. Finally, Northern Trust Corp boosted its position in shares of FuboTV by 16.9% in the 4th quarter. Northern Trust Corp now owns 2,999,809 shares of the company’s stock worth $3,780,000 after purchasing an additional 434,406 shares during the last quarter. 39.31% of the stock is owned by institutional investors and hedge funds.

FuboTV Price Performance

The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54. The firm has a market capitalization of $1.03 billion, a P/E ratio of -4.60 and a beta of 2.02. The company has a 50-day moving average price of $3.63 and a 200-day moving average price of $2.30.

About FuboTV

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.