Charles Schwab Investment Management Inc. Buys 1,841,983 Shares of GoPro, Inc. $GPRO

Key Points

• Charles Schwab Investment Management Inc. significantly increased its stake in GoPro, Inc. by 132.1%, owning over 3.2 million shares after acquiring additional 1.8 million shares during the first quarter.
• Wall Street analysts have recently downgraded GoPro, with one analyst lowering the stock's rating from "hold" to "sell," and an average target price now set at $0.75.
• Insider trading activity was noted as EVP Brian McGee sold 150,043 shares of GoPro stock, resulting in a 16.13% decrease in his ownership of the shares.

Charles Schwab Investment Management Inc. lifted its holdings in shares of GoPro, Inc. (NASDAQ:GPRO - Free Report) by 132.1% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,236,823 shares of the company's stock after purchasing an additional 1,841,983 shares during the period. Charles Schwab Investment Management Inc. owned 2.06% of GoPro worth $2,146,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. GSA Capital Partners LLP boosted its position in shares of GoPro by 99.5% during the 1st 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 in the last quarter. Wealth Enhancement Advisory Services LLC bought a new stake in GoPro in the 1st quarter valued at about $50,000. Price T Rowe Associates Inc. MD increased its position in GoPro by 59.8% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 284,835 shares of the company's stock valued at $311,000 after buying an additional 106,553 shares in the last quarter. MetLife Investment Management LLC increased its position in GoPro by 90.4% in the 4th quarter. MetLife Investment Management LLC now owns 36,134 shares of the company's stock valued at $39,000 after buying an additional 17,158 shares in the last quarter. Finally, Bank of America Corp DE increased its position in GoPro by 19.5% in the 4th quarter. Bank of America Corp DE now owns 346,917 shares of the company's stock valued at $378,000 after buying an additional 56,586 shares in the last quarter. Institutional investors own 70.09% of the company's stock.

Wall Street Analyst Weigh In

A number of brokerages recently commented on GPRO. Morgan Stanley reaffirmed an "underweight" rating on shares of GoPro in a research report on Tuesday, August 12th. Wedbush reaffirmed a "neutral" rating and issued a $0.75 target price (down from $1.00) on shares of GoPro in a research report on Tuesday, May 13th. Finally, Wall Street Zen cut shares of GoPro from a "hold" rating to a "sell" rating in a research report on Saturday, August 16th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Reduce" and an average target price of $0.75.

GoPro Stock Down 4.5%

GPRO stock traded down $0.07 during trading on Tuesday, reaching $1.49. The stock had a trading volume of 5,795,138 shares, compared to its average volume of 6,595,735. GoPro, Inc. has a one year low of $0.40 and a one year high of $2.37. The company's 50 day moving average is $1.16 and its two-hundred day moving average is $0.84. The company has a market capitalization of $235.69 million, a price-to-earnings ratio of -2.16 and a beta of 1.51.

Insider Transactions at GoPro

In other GoPro news, EVP Brian Mcgee sold 150,043 shares of the company'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 represents a 16.13% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 18.38% of the stock is owned by company insiders.

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.