Nuveen LLC Invests $250,000 in GoPro, Inc. $GPRO

Key Points

• Nuveen LLC acquired a new stake in GoPro, purchasing 377,819 shares valued at approximately $250,000, representing about 0.24% of the company.
• Institutional ownership of GoPro has risen, with 70.09% of the stock held by institutional investors and various firms increasing their stakes significantly during recent quarters.
• Wall Street analysts have mixed ratings on GoPro, with Morgan Stanley maintaining an "underweight" rating and a consensus average price target of <$strong>0.75.

Nuveen LLC purchased a new stake in GoPro, Inc. (NASDAQ:GPRO - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 377,819 shares of the company's stock, valued at approximately $250,000. Nuveen LLC owned approximately 0.24% of GoPro as of its most recent SEC filing.

Other institutional investors have also recently modified their holdings of the company. Tower Research Capital LLC TRC increased its position in shares of GoPro by 153.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company's stock valued at $26,000 after purchasing an additional 14,485 shares during the last quarter. MetLife Investment Management LLC increased its position in shares of GoPro by 90.4% during the 4th quarter. MetLife Investment Management LLC now owns 36,134 shares of the company's stock valued at $39,000 after purchasing an additional 17,158 shares during the last quarter. Squarepoint Ops LLC bought a new position in shares of GoPro during the 4th quarter valued at about $42,000. Graham Capital Management L.P. increased its position in shares of GoPro by 566.8% during the 4th quarter. Graham Capital Management L.P. now owns 72,253 shares of the company's stock valued at $79,000 after purchasing an additional 61,418 shares during the last quarter. Finally, Wells Fargo & Company MN increased its position in shares of GoPro by 26.0% during the 4th quarter. Wells Fargo & Company MN now owns 73,903 shares of the company's stock valued at $81,000 after purchasing an additional 15,255 shares during the last quarter. 70.09% of the stock is currently owned by institutional investors.

GoPro Stock Performance

GPRO traded up $0.37 on Thursday, hitting $2.00. 17,499,504 shares of the company were exchanged, compared to its average volume of 8,756,697. The firm has a fifty day simple moving average of $1.29 and a two-hundred day simple moving average of $0.89. GoPro, Inc. has a 12 month low of $0.40 and a 12 month high of $2.37. The stock has a market capitalization of $316.36 million, a PE ratio of -2.90 and a beta of 1.51.

Insider Transactions at GoPro

In related news, EVP Brian Mcgee sold 150,043 shares of the firm'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 transaction, the executive vice president directly owned 779,974 shares in the company, valued at $967,167.76. This trade represents a 16.13% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 18.38% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on GPRO. Morgan Stanley reiterated an "underweight" rating on shares of GoPro in a research report on Tuesday, August 12th. Wall Street Zen upgraded GoPro from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. One equities research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, GoPro has a consensus rating of "Reduce" and a consensus 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.