GoPro (NASDAQ:GPRO) PT Lowered to $4.00

GoPro (NASDAQ:GPRO) had its price target lowered by equities researchers at Morgan Stanley from $4.30 to $4.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s target price suggests a potential upside of 36.52% from the company’s current price.

Several other analysts have also recently issued reports on GPRO. StockNews.com initiated coverage on shares of GoPro in a research report on Thursday, October 5th. They set a “hold” rating on the stock. Wedbush decreased their target price on shares of GoPro from $6.00 to $5.00 and set an “outperform” rating on the stock in a research report on Wednesday.

GoPro Stock Down 7.3 %

Shares of GPRO stock opened at $2.93 on Wednesday. The stock has a market cap of $447.49 million, a P/E ratio of -9.77 and a beta of 1.42. GoPro has a 52 week low of $2.41 and a 52 week high of $6.57. The company has a quick ratio of 1.49, a current ratio of 2.01 and a debt-to-equity ratio of 0.25. The company’s fifty day simple moving average is $3.04 and its two-hundred day simple moving average is $3.72.

Insider Buying and Selling

In other GoPro news, CAO Charles Lafrades sold 7,571 shares of the firm’s stock in a transaction dated Wednesday, August 16th. The shares were sold at an average price of $3.67, for a total value of $27,785.57. Following the completion of the sale, the chief accounting officer now owns 105,640 shares of the company’s stock, valued at $387,698.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 18.44% of the stock is currently owned by corporate insiders.

Institutional Trading of GoPro

Several institutional investors have recently added to or reduced their stakes in GPRO. Dimensional Fund Advisors LP lifted its stake in GoPro by 25.5% in the first quarter. Dimensional Fund Advisors LP now owns 6,971,000 shares of the company’s stock worth $35,063,000 after purchasing an additional 1,415,157 shares during the last quarter. FMR LLC increased its position in shares of GoPro by 27.4% during the second quarter. FMR LLC now owns 5,278,262 shares of the company’s stock worth $29,189,000 after acquiring an additional 1,133,819 shares during the period. Two Sigma Investments LP increased its position in shares of GoPro by 426.5% during the third quarter. Two Sigma Investments LP now owns 1,000,827 shares of the company’s stock worth $4,934,000 after acquiring an additional 810,727 shares during the period. Assenagon Asset Management S.A. increased its position in shares of GoPro by 47.9% during the second quarter. Assenagon Asset Management S.A. now owns 2,447,524 shares of the company’s stock worth $10,133,000 after acquiring an additional 792,910 shares during the period. Finally, Renaissance Technologies LLC increased its position in shares of GoPro by 61.3% during the fourth quarter. Renaissance Technologies LLC now owns 1,526,457 shares of the company’s stock worth $7,602,000 after acquiring an additional 580,257 shares during the period. Institutional investors own 54.26% of the company’s stock.

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 HERO11 Black, HERO11 Black Mini, HERO10 Black, HERO10 Black Bones, HERO9 Black, and HERO8 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro, a subscription service that includes full access to the Quik app, cloud storage supporting source video and photo quality, camera replacement, and damage protection; Quik subscription offers access to editing tools, which allows users to edit photos, videos, and create cinematic stories; and Quik app, a mobile app that enable users to get their favorite photos and videos with footage from any phone or camera.