GoPro (NASDAQ:GPRO) Major Shareholder Sells $29,880.00 in Stock

Key Points

• William George Brumder, a major shareholder of GoPro, sold 12,000 shares of the company's stock for a total of $29,880, reducing his ownership by 0.11%.
• GoPro's shares are currently trading at $2.29, with a market cap of $362.23 million and a fifty-two week low of $0.40 and high of $3.05.
• Recent rating changes include Morgan Stanley maintaining an “underweight” rating while Wall Street Zen upgraded GoPro from "sell" to a "hold," reflecting mixed analyst sentiment on the stock.

GoPro, Inc. (NASDAQ:GPRO - Get Free Report) major shareholder William George Brumder sold 12,000 shares of the business's stock in a transaction on Friday, September 19th. The shares were sold at an average price of $2.49, for a total transaction of $29,880.00. Following the completion of the transaction, the insider directly owned 10,838,000 shares in the company, valued at $26,986,620. This represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Large shareholders that own 10% or more of a company's stock are required to disclose their sales and purchases with the SEC.

GoPro Price Performance

Shares of GPRO stock traded up $0.09 during mid-day trading on Friday, hitting $2.29. The stock had a trading volume of 8,664,825 shares, compared to its average volume of 12,011,470. The firm has a market cap of $362.23 million, a PE ratio of -3.32 and a beta of 1.51. The company's 50-day simple moving average is $1.65 and its 200-day simple moving average is $1.01. GoPro, Inc. has a fifty-two week low of $0.40 and a fifty-two week high of $3.05.

Analyst Ratings Changes

GPRO has been the subject of a number of analyst reports. Morgan Stanley reissued an "underweight" rating on shares of GoPro in a research note 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 research analyst has rated the stock with a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Reduce" and a consensus price target of $0.75.

Institutional Trading of GoPro

A number of institutional investors have recently bought and sold shares of the company. Captrust Financial Advisors grew its holdings in GoPro by 89.6% in the second quarter. Captrust Financial Advisors now owns 33,041 shares of the company's stock valued at $25,000 after purchasing an additional 15,618 shares during the last quarter. Bank of New York Mellon Corp boosted its position in shares of GoPro by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 376,700 shares of the company's stock worth $250,000 after buying an additional 20,575 shares in the last quarter. BNP Paribas Financial Markets grew its stake in GoPro by 323.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 36,497 shares of the company's stock valued at $28,000 after acquiring an additional 27,887 shares during the last quarter. CWM LLC increased its holdings in GoPro by 26.7% during the 2nd quarter. CWM LLC now owns 137,493 shares of the company's stock valued at $104,000 after acquiring an additional 28,952 shares in the last quarter. Finally, Jump Financial LLC purchased a new position in GoPro during the 2nd quarter valued at about $25,000. 70.09% of the stock is currently owned by hedge funds and other institutional investors.

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.

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