GoPro (NASDAQ:GPRO) Receives Sell (D-) Rating from Weiss Ratings

Key Points

• GoPro has been reaffirmed a "sell (D-)" rating by Weiss Ratings, reflecting concerns over its stock performance, which is currently rated consensus "Sell" with a price target of $0.75.
• Despite this negative outlook, recent transactions show that major insider, William George Brumder, sold 12,000 shares, while Charles Schwab and other institutional investors have recently increased their holdings.
• GoPro's stock opened at $2.20, with a 12-month high of $3.05 and a low of $0.40, indicating significant volatility in its market performance.

GoPro (NASDAQ:GPRO - Get Free Report)'s stock had its "sell (d-)" rating reaffirmed by research analysts at Weiss Ratings in a report released on Wednesday,Weiss Ratings reports.

Several other equities analysts have also issued reports on GPRO. Morgan Stanley reissued an "underweight" rating on shares of GoPro in a report on Tuesday, August 12th. Wall Street Zen raised shares of GoPro from a "sell" rating to a "hold" rating in a research note on Friday, September 5th. One analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, GoPro currently has a consensus rating of "Sell" and a consensus price target of $0.75.

GoPro Price Performance

Shares of GPRO stock opened at $2.20 on Wednesday. GoPro has a 12-month low of $0.40 and a 12-month high of $3.05. The firm has a market capitalization of $348.00 million, a price-to-earnings ratio of -3.19 and a beta of 1.60. The firm has a fifty day moving average of $1.78 and a 200-day moving average of $1.09.

Insider Transactions at GoPro

In other news, major shareholder William George Brumder sold 12,000 shares of the company's stock in a transaction dated Friday, September 19th. The shares were sold at an average price of $2.49, for a total value of $29,880.00. Following the sale, the insider directly owned 10,838,000 shares of the company's stock, valued at approximately $26,986,620. This represents a 0.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Brian Mcgee sold 150,043 shares of the company's stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $1.24, for a total transaction of $186,053.32. Following the completion of the sale, the executive vice president directly owned 779,974 shares in the company, valued at approximately $967,167.76. The trade was a 16.13% decrease in their ownership of the stock. The disclosure for this sale can be found here. 18.38% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Nuveen LLC bought a new position in GoPro in the 1st quarter valued at about $250,000. Charles Schwab Investment Management Inc. boosted its position in shares of GoPro by 132.1% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,236,823 shares of the company's stock worth $2,146,000 after acquiring an additional 1,841,983 shares in the last quarter. 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 worth $1,142,000 after acquiring an additional 859,677 shares in the last quarter. Wealth Enhancement Advisory Services LLC acquired a new stake in shares of GoPro during the 1st quarter worth approximately $50,000. Finally, Ieq Capital LLC acquired a new stake in shares of GoPro during the 1st quarter worth approximately $212,000. 70.09% of the stock is owned by 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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