Traders Purchase Large Volume of GoPro Call Options (NASDAQ:GPRO)

GoPro, Inc. (NASDAQ:GPRO) was the recipient of unusually large options trading activity on Monday. Stock traders acquired 112,910 call options on the company. Thisrepresentsanincreaseofapproximately1,525% compared to the average volume of 6,949 call options.

GoPro Price Performance

Shares of NASDAQ:GPRO opened at $1.65 on Tuesday. The business’s 50 day moving average price is $1.08 and its 200-day moving average price is $0.81. GoPro has a 1 year low of $0.3980 and a 1 year high of $2.37. The firm has a market capitalization of $261.00 million, a price-to-earnings ratio of -2.39 and a beta of 1.40.

Analysts Set New Price Targets

A number of research firms have weighed in on GPRO. Morgan Stanley reiterated an “underweight” rating on shares of GoPro in a research note on Tuesday, August 12th. Wall Street Zen lowered GoPro from a “hold” rating to a “sell” rating in a report on Saturday, August 16th. Finally, Wedbush reiterated a “neutral” rating and set a $0.75 price target (down from $1.00) on shares of GoPro in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Reduce” and a consensus target price of $0.75.

Insider Activity

In related news, EVP Brian Mcgee sold 150,043 shares of the business’s stock in a transaction on 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 transaction, the executive vice president directly owned 779,974 shares in the company, valued at $967,167.76. The trade was a 16.13% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 18.38% of the stock is currently owned by company insiders.

Institutional Trading of GoPro

Institutional investors have recently modified their holdings of the stock. Tower Research Capital LLC TRC raised its position in shares of GoPro by 153.8% during the 4th quarter. Tower Research Capital LLC TRC now owns 23,905 shares of the company’s stock worth $26,000 after purchasing an additional 14,485 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of GoPro by 89.6% during the second quarter. Captrust Financial Advisors now owns 33,041 shares of the company’s stock valued at $25,000 after acquiring an additional 15,618 shares during the last quarter. Jump Financial LLC acquired a new position in shares of GoPro during the second quarter valued at approximately $25,000. Banco BTG Pactual S.A. purchased a new position in shares of GoPro in the second quarter valued at approximately $27,000. Finally, MetLife Investment Management LLC boosted its stake in shares of GoPro by 90.4% in the fourth quarter. MetLife Investment Management LLC now owns 36,134 shares of the company’s stock worth $39,000 after acquiring an additional 17,158 shares during the last quarter. Institutional investors and hedge funds own 70.09% 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 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.