GoPro, Inc. $GPRO Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its stake in shares of GoPro, Inc. (NASDAQ:GPRO) by 39.1% in the 1st quarter, Holdings Channel.com reports. The firm owned 1,416,296 shares of the company’s stock after selling 910,605 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in GoPro were worth $939,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently modified their holdings of the company. Tower Research Capital LLC TRC lifted its holdings in shares of GoPro by 153.8% during the fourth quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock worth $26,000 after purchasing an additional 14,485 shares during the period. Squarepoint Ops LLC acquired a new stake in shares of GoPro during the fourth quarter worth $42,000. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of GoPro during the first quarter worth $50,000. CWM LLC lifted its holdings in shares of GoPro by 2,346.3% during the first quarter. CWM LLC now owns 108,541 shares of the company’s stock worth $72,000 after purchasing an additional 104,104 shares during the period. Finally, Graham Capital Management L.P. lifted its holdings in shares of GoPro by 566.8% during the fourth quarter. Graham Capital Management L.P. now owns 72,253 shares of the company’s stock worth $79,000 after purchasing an additional 61,418 shares during the period. 70.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on GPRO shares. Wall Street Zen upgraded GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. Morgan Stanley reiterated an “underweight” rating on shares of GoPro in a research report on Tuesday, August 12th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, GoPro currently has a consensus rating of “Reduce” and a consensus target price of $0.75.

Insider Buying and Selling at GoPro

In other news, EVP Brian Mcgee sold 150,043 shares of the firm’s stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $1.24, for a total value of $186,053.32. Following the completion of the transaction, the executive vice president owned 779,974 shares in the company, valued at $967,167.76. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 18.38% of the stock is currently owned by corporate insiders.

GoPro Stock Up 22.7%

Shares of GPRO stock opened at $2.00 on Friday. GoPro, Inc. has a fifty-two week low of $0.40 and a fifty-two week high of $2.37. The stock has a market cap of $316.36 million, a P/E ratio of -2.90 and a beta of 1.51. The business has a fifty day simple moving average of $1.29 and a 200-day simple moving average of $0.89.

About GoPro

GoPro, Inc develops and sells cameras, mountable and wearable accessories, and subscription services and software in the Americas, Europe, the Middle East, Africa, the Asia and Pacific region, and internationally. The company provides cloud connected HERO12 Black, HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; Premium and Premium+ subscription services, which include full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription that offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik desktop and mobile apps that enable users to get their favorite photos and videos with footage from any phone or camera.