GoPro, Inc. $GPRO Shares Sold by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management S.A. reduced its stake in GoPro, Inc. by 68.3%, now holding 94,166 shares valued at approximately $71,000.
• Other institutional investors, such as Nuveen LLC and Charles Schwab Investment Management, have increased their positions in GoPro significantly during the first quarter.
• GoPro shares opened at $2.29, with a market cap of $362.23 million, despite analysts currently rating the stock as a "reduce" with an average target price of $0.75.

Assenagon Asset Management S.A. lessened its position in GoPro, Inc. (NASDAQ:GPRO - Free Report) by 68.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 94,166 shares of the company's stock after selling 203,280 shares during the period. Assenagon Asset Management S.A. owned about 0.06% of GoPro worth $71,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Nuveen LLC acquired a new position in shares of GoPro in the first quarter valued at approximately $250,000. Charles Schwab Investment Management Inc. grew its holdings in GoPro by 132.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,236,823 shares of the company's stock valued at $2,146,000 after purchasing an additional 1,841,983 shares during the period. GSA Capital Partners LLP grew its holdings in GoPro by 99.5% in the first quarter. GSA Capital Partners LLP now owns 1,723,421 shares of the company's stock valued at $1,142,000 after purchasing an additional 859,677 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in GoPro in the first quarter valued at approximately $50,000. Finally, Ieq Capital LLC purchased a new stake in GoPro in the first quarter valued at approximately $212,000. Institutional investors and hedge funds own 70.09% of the company's stock.

GoPro Stock Up 4.1%

GPRO opened at $2.29 on Monday. GoPro, Inc. has a 52-week low of $0.40 and a 52-week high of $3.05. The company has a 50 day moving average of $1.65 and a two-hundred day moving average of $1.02. The company has a market cap of $362.23 million, a P/E ratio of -3.32 and a beta of 1.51.

Insider Activity at GoPro

In other GoPro news, major shareholder William George Brumder sold 12,000 shares of the business's stock in a transaction that occurred on Friday, September 19th. The shares were sold at an average price of $2.49, for a total transaction of $29,880.00. Following the completion of the sale, the insider directly owned 10,838,000 shares in the company, valued at $26,986,620. The trade was a 0.11% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mcgee sold 150,043 shares of the business's stock in a transaction that occurred on Wednesday, August 20th. The stock was sold at an average price of $1.24, for a total transaction of $186,053.32. Following the sale, the executive vice president owned 779,974 shares of the company's stock, valued at approximately $967,167.76. This represents a 16.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.38% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on the stock. Wall Street Zen upgraded shares of GoPro from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Morgan Stanley restated an "underweight" rating on shares of GoPro in a report on Tuesday, August 12th. One research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, GoPro currently has a consensus rating of "Reduce" and an average target price of $0.75.

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.

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