Jacobs Levy Equity Management Inc. Sells 910,605 Shares of GoPro, Inc. $GPRO

Key Points

• Jacobs Levy Equity Management Inc. reduced its stake in GoPro, Inc. by 39.1%, selling 910,605 shares, leaving it with 1,416,296 shares worth approximately $939,000.
• A mix of institutional investors have recently increased their holdings in GoPro, with CWM LLC raising its position by 2,346.3% in the first quarter.
• GoPro stock opened at $2.00, with a fifty-two week range from $0.40 to $2.37 and a market capitalization of $316.36 million.

Jacobs Levy Equity Management Inc. cut its holdings in shares of GoPro, Inc. (NASDAQ:GPRO - Free Report) by 39.1% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. 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. owned approximately 0.90% of GoPro worth $939,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in GPRO. Tower Research Capital LLC TRC boosted its position in GoPro by 153.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company's stock worth $26,000 after acquiring an additional 14,485 shares during the period. Price T Rowe Associates Inc. MD lifted its position in GoPro by 59.8% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 284,835 shares of the company's stock worth $311,000 after purchasing an additional 106,553 shares during the period. Northern Trust Corp lifted its position in GoPro by 8.7% in the fourth quarter. Northern Trust Corp now owns 1,150,517 shares of the company's stock worth $1,254,000 after purchasing an additional 92,463 shares during the period. Jane Street Group LLC lifted its position in GoPro by 52.4% in the fourth quarter. Jane Street Group LLC now owns 752,021 shares of the company's stock worth $820,000 after purchasing an additional 258,600 shares during the period. Finally, Bank of America Corp DE lifted its position in GoPro by 19.5% in the fourth quarter. Bank of America Corp DE now owns 346,917 shares of the company's stock worth $378,000 after purchasing an additional 56,586 shares during the period. Institutional investors and hedge funds own 70.09% of the company's stock.

Insider Buying and Selling

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

GoPro Trading Down 0.9%

GoPro stock traded down $0.02 during mid-day trading on Wednesday, hitting $2.31. 16,861,063 shares of the company's stock were exchanged, compared to its average volume of 11,606,478. The stock has a market cap of $365.40 million, a P/E ratio of -3.35 and a beta of 1.51. GoPro, Inc. has a 1-year low of $0.40 and a 1-year high of $2.58. The stock has a 50 day moving average of $1.41 and a two-hundred day moving average of $0.93.

Wall Street Analyst Weigh In

A number of research firms have weighed in on GPRO. Wall Street Zen upgraded GoPro from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Morgan Stanley reaffirmed an "underweight" rating on shares of GoPro in a report on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Reduce" and an average price target of $0.75.

GoPro Company Profile

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.