Alliancebernstein L.P. lifted its holdings in shares of GoPro, Inc. (NASDAQ:GPRO) by 68.4% during the 1st quarter, Holdings Channel.com reports. The firm owned 238,300 shares of the company’s stock after buying an additional 96,800 shares during the quarter. Alliancebernstein L.P.’s holdings in GoPro were worth $2,774,000 at the end of the most recent quarter.
Several other hedge funds have also added to or reduced their stakes in the stock. Avidian Wealth Solutions LLC bought a new position in shares of GoPro during the 1st quarter valued at $501,000. Versant Capital Management Inc grew its holdings in shares of GoPro by 17.5% during the 1st quarter. Versant Capital Management Inc now owns 97,034 shares of the company’s stock valued at $1,129,000 after purchasing an additional 14,445 shares during the last quarter. Castle Rock Wealth Management LLC bought a new position in shares of GoPro during the 1st quarter valued at $122,000. Assenagon Asset Management S.A. bought a new position in shares of GoPro during the 1st quarter valued at $355,000. Finally, Hennessy Advisors Inc. bought a new position in shares of GoPro during the 1st quarter valued at $3,291,000. 58.96% of the stock is currently owned by institutional investors.
In other news, CEO Nicholas Woodman sold 200,000 shares of the firm’s stock in a transaction dated Wednesday, March 24th. The shares were sold at an average price of $11.80, for a total value of $2,360,000.00. Following the completion of the sale, the chief executive officer now directly owns 695,747 shares of the company’s stock, valued at approximately $8,209,814.60. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Peter C. Gotcher sold 30,172 shares of the firm’s stock in a transaction dated Monday, May 24th. The stock was sold at an average price of $10.50, for a total transaction of $316,806.00. Following the completion of the sale, the director now directly owns 43,335 shares of the company’s stock, valued at $455,017.50. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 493,361 shares of company stock valued at $5,549,918. Corporate insiders own 20.32% of the company’s stock.
GoPro (NASDAQ:GPRO) last announced its quarterly earnings results on Thursday, May 6th. The company reported $0.03 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of ($0.06) by $0.09. GoPro had a negative net margin of 1.38% and a positive return on equity of 21.47%. The business had revenue of $203.68 million during the quarter, compared to analysts’ expectations of $186.72 million. During the same quarter in the prior year, the company posted ($0.34) EPS. The firm’s revenue for the quarter was up 70.6% compared to the same quarter last year. On average, analysts predict that GoPro, Inc. will post 0.42 earnings per share for the current fiscal year.
Separately, Morgan Stanley increased their price target on shares of GoPro from $7.90 to $8.90 and gave the company an “underweight” rating in a research report on Friday, May 7th. Two research analysts have rated the stock with a sell rating, three have assigned a hold rating and one has issued a buy rating to the company. GoPro presently has a consensus rating of “Hold” and an average target price of $6.48.
GoPro, Inc develops and sells cameras, drones, and mountable and wearable accessories in the United States and internationally. The company offers cloud connected HERO7 Silver, HERO7 Black, HERO8 Black, and HERO9 Black waterproof cameras; MAX, a 360-degree waterproof camera; GoPro, a subscription service that offers cloud-based storage solutions and enables subscribers to access, edit, and share content, as well camera protection plans; Quik, a video editing application; and GoPro App, a mobile app that allows users to share and edit their photos and videos.
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