GoPro (NASDAQ:GPRO) Share Price Passes Above 200 Day Moving Average - Time to Sell?

Key Points

• GoPro's stock price recently surpassed its 200-day moving average, trading at $2.14 after reaching a high of $2.23.
• Analysts have mixed ratings on GoPro, with one upgrade to "hold," while others maintain "sell" ratings, resulting in a consensus target price of $0.75.
• Major shareholder William George Brumder sold 12,000 shares at an average price of $2.49, reflecting ongoing insider activity within the company.

GoPro, Inc. (NASDAQ:GPRO - Get Free Report)'s stock price crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.18 and traded as high as $2.23. GoPro shares last traded at $2.14, with a volume of 5,207,869 shares changing hands.

Analysts Set New Price Targets

A number of research firms have weighed in on GPRO. Wall Street Zen upgraded GoPro from a "sell" rating to a "hold" rating in a report on Friday, September 5th. Morgan Stanley reiterated an "underweight" rating on shares of GoPro in a report on Tuesday, August 12th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of GoPro in a report on Wednesday, October 8th. One investment analyst has rated the stock with a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, GoPro currently has an average rating of "Sell" and a consensus target price of $0.75.

GoPro Trading Up 6.5%

The company has a market cap of $338.51 million, a PE ratio of -3.10 and a beta of 1.60. The firm has a 50 day moving average of $1.91 and a two-hundred day moving average of $1.18.

Insider Activity at GoPro

In related news, major shareholder William George Brumder sold 12,000 shares of the company's stock in a transaction that occurred on Friday, September 19th. The stock was sold at an average price of $2.49, for a total value of $29,880.00. Following the transaction, 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, EVP Brian Mcgee sold 150,043 shares of the company's stock in a transaction that occurred 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 ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 18.38% of the company's stock.

Hedge Funds Weigh In On GoPro

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC lifted its position in GoPro by 957.3% in the 1st quarter. AQR Capital Management LLC now owns 3,687,711 shares of the company's stock valued at $2,445,000 after acquiring an additional 3,338,941 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position in GoPro by 132.1% in the 1st quarter. Charles Schwab Investment Management Inc. now owns 3,236,823 shares of the company's stock valued at $2,146,000 after acquiring an additional 1,841,983 shares in the last quarter. GSA Capital Partners LLP lifted its position in GoPro by 99.5% in the 1st quarter. GSA Capital Partners LLP now owns 1,723,421 shares of the company's stock valued at $1,142,000 after acquiring an additional 859,677 shares in the last quarter. Goldman Sachs Group Inc. lifted its position in GoPro by 6.1% in the 1st quarter. Goldman Sachs Group Inc. now owns 1,578,385 shares of the company's stock valued at $1,046,000 after acquiring an additional 91,283 shares in the last quarter. Finally, Allianz Asset Management GmbH bought a new position in GoPro in the 2nd quarter valued at approximately $474,000. 70.09% of the stock is owned by 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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