Bank of New York Mellon Corp Increases Position in GoPro, Inc. (NASDAQ:GPRO)

Bank of New York Mellon Corp lifted its position in shares of GoPro, Inc. (NASDAQ:GPRO) by 5.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 376,700 shares of the company’s stock after buying an additional 20,575 shares during the period. Bank of New York Mellon Corp owned 0.24% of GoPro worth $250,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Geode Capital Management LLC increased its holdings in shares of GoPro by 1.8% during the 4th quarter. Geode Capital Management LLC now owns 2,923,899 shares of the company’s stock worth $3,187,000 after buying an additional 50,834 shares during the last quarter. Wells Fargo & Company MN increased its holdings in shares of GoPro by 26.0% during the 4th quarter. Wells Fargo & Company MN now owns 73,903 shares of the company’s stock worth $81,000 after buying an additional 15,255 shares during the last quarter. Renaissance Technologies LLC increased its holdings in shares of GoPro by 14.4% during the 4th quarter. Renaissance Technologies LLC now owns 1,310,400 shares of the company’s stock worth $1,428,000 after buying an additional 164,600 shares during the last quarter. MetLife Investment Management LLC increased its holdings in shares of GoPro by 90.4% during the 4th quarter. MetLife Investment Management LLC now owns 36,134 shares of the company’s stock worth $39,000 after buying an additional 17,158 shares during the last quarter. Finally, Tower Research Capital LLC TRC increased its position in shares of GoPro by 153.8% in the fourth quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock worth $26,000 after acquiring an additional 14,485 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on the stock. Wedbush reissued a “neutral” rating and issued a $0.75 price objective (down previously from $1.00) on shares of GoPro in a research report on Tuesday, May 13th. Wall Street Zen raised shares of GoPro from a “sell” rating to a “hold” rating in a research report on Thursday, May 22nd.

GoPro Stock Up 1.5%

GoPro stock opened at $1.32 on Wednesday. GoPro, Inc. has a 52-week low of $0.40 and a 52-week high of $2.37. The firm has a fifty day moving average of $0.92 and a 200-day moving average of $0.78. The firm has a market capitalization of $207.97 million, a P/E ratio of -1.47 and a beta of 1.40.

GoPro (NASDAQ:GPRO) last released its quarterly earnings results on Monday, May 12th. The company reported ($0.12) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.13) by $0.01. The business had revenue of $134,308 billion during the quarter, compared to analyst estimates of $124.65 million. GoPro had a negative net margin of 17.93% and a negative return on equity of 60.09%. On average, research analysts expect that GoPro, Inc. will post -0.25 EPS for the current fiscal year.

GoPro 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.