GoPro (NASDAQ:GPRO) Share Price Passes Above 200 Day Moving Average – Time to Sell?

GoPro, Inc. (NASDAQ:GPRO) crossed above its 200-day moving average during trading on Monday . The stock has a 200-day moving average of $1.18 and traded as high as $2.23. GoPro shares last traded at $2.14, with a volume of 5,207,869 shares trading hands.

Wall Street Analysts Forecast Growth

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

GoPro Trading Up 6.5%

The stock has a market capitalization of $338.51 million, a PE ratio of -3.10 and a beta of 1.60. The firm has a 50 day moving average price of $1.91 and a 200 day moving average price of $1.18.

Insider Buying and Selling at GoPro

In other GoPro news, major shareholder William George Brumder sold 12,000 shares of the stock in a transaction on Friday, September 19th. The stock was sold at an average price of $2.49, for a total value of $29,880.00. Following the completion of the sale, the insider owned 10,838,000 shares in the company, valued at approximately $26,986,620. This represents a 0.11% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, EVP Brian Mcgee sold 150,043 shares of the stock in a transaction on Wednesday, August 20th. The stock was sold at an average price of $1.24, for a total value of $186,053.32. Following the completion of the sale, the executive vice president owned 779,974 shares of the company’s stock, valued at $967,167.76. The trade was a 16.13% decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 18.38% of the company’s stock.

Institutional Investors Weigh In On GoPro

A number of institutional investors have recently bought and sold shares of GPRO. Wealth Enhancement Advisory Services LLC purchased a new stake in GoPro in the 1st quarter worth $50,000. Bank of New York Mellon Corp increased its stake in GoPro by 5.8% in the 1st quarter. Bank of New York Mellon Corp now owns 376,700 shares of the company’s stock worth $250,000 after buying an additional 20,575 shares in the last quarter. Cerity Partners LLC purchased a new stake in GoPro in the 1st quarter worth $80,000. CWM LLC increased its stake in GoPro by 2,346.3% in the 1st quarter. CWM LLC now owns 108,541 shares of the company’s stock worth $72,000 after buying an additional 104,104 shares in the last quarter. Finally, GSA Capital Partners LLP increased its stake in GoPro by 99.5% in the 1st quarter. GSA Capital Partners LLP now owns 1,723,421 shares of the company’s stock worth $1,142,000 after buying an additional 859,677 shares in the last quarter. Hedge funds and other institutional investors own 70.09% of the company’s stock.

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.