GoPro (NASDAQ:GPRO) Share Price Crosses Above 200-Day Moving Average - Here's What Happened

Key Points

• GoPro's share price has crossed above its 200-day moving average, currently trading at $2.35, significantly above the average of $1.08.
• Analysts have mixed ratings for GoPro, with a consensus rating of "Sell" and a target price of $0.75, but one analyst has upgraded the stock to "Hold."
• Insider activity includes significant share sales by major stakeholders, with 18.38% of the stock currently owned by company insiders.

GoPro, Inc. (NASDAQ:GPRO - Get Free Report)'s share price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.08 and traded as high as $2.39. GoPro shares last traded at $2.35, with a volume of 9,154,438 shares trading hands.

Analysts Set New Price Targets

GPRO has been the topic of a number of research reports. Weiss Ratings restated a "sell (d-)" rating on shares of GoPro in a report on Saturday, September 27th. Wall Street Zen upgraded GoPro from a "sell" rating to a "hold" rating in a research report on Friday, September 5th. Finally, Morgan Stanley reaffirmed an "underweight" rating on shares of GoPro in a research note on Tuesday, August 12th. One investment analyst has rated the stock with a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Sell" and a consensus target price of $0.75.

GoPro Stock Up 4.0%

The company's 50 day simple moving average is $1.74 and its 200-day simple moving average is $1.08. The firm has a market cap of $371.72 million, a P/E ratio of -3.41 and a beta of 1.60.

Insider Buying and Selling

In related news, major shareholder William George Brumder sold 12,000 shares of the business's stock in a transaction on Friday, September 19th. The stock was sold at an average price of $2.49, for a total transaction of $29,880.00. Following the completion of the transaction, the insider owned 10,838,000 shares in the company, valued at $26,986,620. The trade was a 0.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Brian Mcgee sold 150,043 shares of the company's stock in a transaction on Wednesday, August 20th. The shares were 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 directly owned 779,974 shares in the company, valued at $967,167.76. This trade represents a 16.13% decrease in their position. The disclosure for this sale can be found here. 18.38% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On GoPro

Several large investors have recently added to or reduced their stakes in GPRO. Nuveen LLC bought a new position in GoPro in the 1st quarter worth about $250,000. Charles Schwab Investment Management Inc. boosted its holdings in shares of GoPro by 132.1% in the first quarter. Charles Schwab Investment Management Inc. now owns 3,236,823 shares of the company's stock valued at $2,146,000 after purchasing an additional 1,841,983 shares during the period. GSA Capital Partners LLP grew its stake in GoPro by 99.5% in the first quarter. GSA Capital Partners LLP now owns 1,723,421 shares of the company's stock worth $1,142,000 after purchasing an additional 859,677 shares in the last quarter. Wealth Enhancement Advisory Services LLC purchased a new position in GoPro during the 1st quarter worth $50,000. Finally, Ieq Capital LLC bought a new stake in GoPro during the 1st quarter valued at $212,000. 70.09% of the stock is owned by hedge funds and other institutional investors.

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.

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