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

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 stake in GoPro, Inc. (NASDAQ:GPRO - Free Report) by 39.1% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,416,296 shares of the company's stock after selling 910,605 shares during the period. Jacobs Levy Equity Management Inc. owned 0.90% of GoPro worth $939,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of GPRO. Tower Research Capital LLC TRC boosted its stake in GoPro by 153.8% in the 4th 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 in the last quarter. Squarepoint Ops LLC purchased a new position in GoPro during the 4th quarter worth approximately $42,000. Wealth Enhancement Advisory Services LLC purchased a new position in GoPro during the 1st quarter worth approximately $50,000. CWM LLC raised its position in GoPro by 2,346.3% during the 1st quarter. CWM LLC now owns 108,541 shares of the company's stock worth $72,000 after buying an additional 104,104 shares during the last quarter. Finally, Graham Capital Management L.P. raised its position in GoPro by 566.8% during the 4th quarter. Graham Capital Management L.P. now owns 72,253 shares of the company's stock worth $79,000 after buying an additional 61,418 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors and hedge funds.

GoPro Stock Performance

GPRO stock opened at $2.00 on Friday. The company's 50 day moving average price is $1.29 and its 200 day moving average price is $0.89. GoPro, Inc. has a fifty-two week low of $0.40 and a fifty-two week high of $2.37. The firm has a market capitalization of $316.36 million, a price-to-earnings ratio of -2.90 and a beta of 1.51.

Insider Activity

In other news, EVP Brian Mcgee sold 150,043 shares of the firm's stock in a transaction that occurred 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 in the company, valued at approximately $967,167.76. This trade represents a 16.13% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 18.38% of the company's stock.

Analyst Ratings Changes

A number of equities analysts have issued reports on GPRO shares. Wall Street Zen raised shares of GoPro from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Morgan Stanley reissued an "underweight" rating on shares of GoPro in a research report on Tuesday, August 12th. One research analyst has rated the stock with a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, GoPro has an average rating of "Reduce" and an average price target of $0.75.

GoPro 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.

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