GoPro, Inc. $GPRO Shares Acquired by Charles Schwab Investment Management Inc.

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. grew its holdings in GoPro, Inc. (NASDAQ:GPRO - Free Report) by 132.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,236,823 shares of the company's stock after purchasing an additional 1,841,983 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 2.06% of GoPro worth $2,146,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tower Research Capital LLC TRC increased its position in 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 buying an additional 14,485 shares in the last quarter. MetLife Investment Management LLC increased its position in GoPro by 90.4% during the 4th quarter. MetLife Investment Management LLC now owns 36,134 shares of the company's stock worth $39,000 after purchasing an additional 17,158 shares in the last quarter. Squarepoint Ops LLC acquired a new position in GoPro in the 4th quarter valued at about $42,000. Two Sigma Securities LLC lifted its holdings in GoPro by 139.4% in the 4th quarter. Two Sigma Securities LLC now owns 44,283 shares of the company's stock valued at $48,000 after purchasing an additional 25,788 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC acquired a new stake in shares of GoPro during the 1st quarter worth about $50,000. Hedge funds and other institutional investors own 70.09% of the company's stock.

GoPro Price Performance

NASDAQ GPRO traded down $0.02 during trading hours on Thursday, hitting $1.46. The company had a trading volume of 2,970,443 shares, compared to its average volume of 8,824,459. The firm's 50 day moving average is $1.19 and its 200 day moving average is $0.86. GoPro, Inc. has a fifty-two week low of $0.40 and a fifty-two week high of $2.37. The company has a market capitalization of $230.94 million, a price-to-earnings ratio of -2.12 and a beta of 1.51.

Insider Buying and Selling at GoPro

In other news, EVP Brian Mcgee sold 150,043 shares of the stock in a transaction dated 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 sale, the executive vice president 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 18.38% of the stock is owned by insiders.

Analysts Set New Price Targets

Several brokerages recently issued reports on GPRO. Wedbush reissued a "neutral" rating and set a $0.75 price objective (down previously from $1.00) on shares of GoPro in a research note on Tuesday, May 13th. Morgan Stanley reiterated an "underweight" rating on shares of GoPro in a report on Tuesday, August 12th. Finally, Wall Street Zen lowered GoPro from a "hold" rating to a "sell" rating in a research note on Saturday, August 16th. One 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, the company presently has an average 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.