Stock Traders Buy High Volume of GoPro Call Options (NASDAQ:GPRO)

GoPro, Inc. (NASDAQ:GPRO) saw unusually large options trading on Wednesday. Investors bought 39,356 call options on the company. This is an increase of 154% compared to the average volume of 15,469 call options.

GoPro Stock Up 5.0%

GPRO opened at $2.31 on Thursday. GoPro has a twelve month low of $0.40 and a twelve month high of $3.05. The company has a 50-day moving average price of $1.95 and a 200 day moving average price of $1.19. The company has a market cap of $365.40 million, a PE ratio of -3.35 and a beta of 1.60.

Insiders Place Their Bets

In other news, major shareholder William George Brumder sold 12,000 shares of the firm’s stock in a transaction dated 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. This trade represents a 0.11% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Brian Mcgee sold 150,043 shares of the firm’s stock in a transaction dated Wednesday, August 20th. The shares were sold at an average price of $1.24, for a total value of $186,053.32. Following the transaction, the executive vice president owned 779,974 shares of the company’s stock, valued at approximately $967,167.76. The trade was 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 Trading of GoPro

Several hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors grew its stake in shares of GoPro by 89.6% in the 2nd quarter. Captrust Financial Advisors now owns 33,041 shares of the company’s stock valued at $25,000 after buying an additional 15,618 shares during the period. Militia Capital Partners LP purchased a new stake in shares of GoPro in the 2nd quarter valued at approximately $379,000. BNP Paribas Financial Markets grew its stake in shares of GoPro by 323.9% in the 2nd quarter. BNP Paribas Financial Markets now owns 36,497 shares of the company’s stock valued at $28,000 after buying an additional 27,887 shares during the period. Brevan Howard Capital Management LP purchased a new stake in shares of GoPro in the 2nd quarter valued at approximately $187,000. Finally, Banco BTG Pactual S.A. purchased a new position in shares of GoPro during the 2nd quarter worth approximately $27,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have issued reports on GPRO. Weiss Ratings restated a “sell (d-)” rating on shares of GoPro in a research report on Wednesday, October 8th. Morgan Stanley reissued an “underweight” rating on shares of GoPro in a research note on Tuesday, August 12th. Finally, Wall Street Zen raised GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 5th. One research analyst has rated the stock with a Hold rating and two have issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Sell” and a consensus target price of $0.75.

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.