Prentice Capital Management LP Acquires 61,154 Shares of GoPro, Inc. (NASDAQ:GPRO)

Prentice Capital Management LP grew its stake in GoPro, Inc. (NASDAQ:GPRO) by 430.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 75,362 shares of the company’s stock after purchasing an additional 61,154 shares during the period. GoPro makes up approximately 0.2% of Prentice Capital Management LP’s holdings, making the stock its 26th largest holding. Prentice Capital Management LP’s holdings in GoPro were worth $102,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the stock. RIA Advisory Group LLC bought a new position in shares of GoPro during the third quarter valued at $27,000. Oak Thistle LLC bought a new position in GoPro during the 2nd quarter valued at about $32,000. Point72 DIFC Ltd acquired a new position in GoPro in the second quarter valued at about $33,000. Point72 Asia Singapore Pte. Ltd. grew its stake in GoPro by 316.9% during the second quarter. Point72 Asia Singapore Pte. Ltd. now owns 24,991 shares of the company’s stock worth $35,000 after buying an additional 18,996 shares during the last quarter. Finally, Intech Investment Management LLC acquired a new stake in shares of GoPro during the third quarter worth approximately $35,000. 70.09% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. StockNews.com raised GoPro from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Wedbush restated a “neutral” rating and issued a $1.50 target price on shares of GoPro in a research note on Wednesday, November 6th.

GoPro Stock Performance

Shares of GoPro stock opened at $1.25 on Wednesday. The firm has a 50 day simple moving average of $1.31 and a 200 day simple moving average of $1.38. GoPro, Inc. has a fifty-two week low of $1.12 and a fifty-two week high of $3.80. The company has a debt-to-equity ratio of 0.51, a current ratio of 1.32 and a quick ratio of 0.87.

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.