Sunday, June 26, 2022

Selling Buzz: GoPro Inc. [GPRO] SVP, Global Sales, CM, RE Jahnke Dean sells 5,896 shares of the company

Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. GoPro Inc. shares valued at $34,490 were sold by Jahnke Dean on Jun 17. At $5.85 per share, Jahnke Dean sold 5,896 shares. The insider’s holdings dropped to 262,428 shares worth approximately $1.56 million following the completion of this transaction.

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Also, Jahnke Dean sold 13,634 shares, netting a total of over 91,566 in proceeds. Following the sale of shares at $6.72 each, the insider now holds 268,324 shares.

Before that, MCGEE BRIAN had sold 17,267 shares from its account. In a trade valued at $118,153, the EVP, CFO and COO traded GoPro Inc. shares for $6.84 each. Upon closing the transaction, the insider’s holdings decreased to 17,267 shares, worth approximately $1.9 million.

As published in their initiating research note from Jefferies on February 28, 2022, GoPro Inc. [GPRO] has been a Buy and the price target has been revised to $12. This represents a 50.58% premium over Wednesday’s closing price. Analysts at Wedbush upgraded the stock from ‘”a Neutral”‘ to ‘”an Outperform”‘ outlook in a report released in mid December. As of November 18, 2021, JP Morgan has increased its “Neutral” rating to a “an Overweight” for GPRO. Earlier on November 11, 2021, Morgan Stanley upgraded its rating. Their new recommendation was “an Equal-weight” for GPRO stock which previously was a “an Underweight”.

Analyzing GPRO’s Price Performance

On Wednesday, GoPro Inc. [NASDAQ: GPRO] plunged -0.50% to $5.93. The stock’s lowest price that day was $5.821, but it reached a high of $6.075 in the same session. During the last five days, there has been a surge of approximately 3.31%. Over the course of the year, GoPro Inc. shares have dropped approximately -42.48%. Shares of the company reached a 52-week high of $11.11 on 01/05/22 and a 52-week low of $5.57 on 06/16/22. A 50-day SMA is recorded $7.35, while a 200-day SMA reached $8.88. Nevertheless, trading volume fell to 2.25 million shares from 1.43 million shares the previous day.

Support And Resistance Levels for GoPro Inc. (GPRO)

According to the 24-hour chart, there is a support level at 5.81, which, if violated, would cause prices to drop to 5.69. In the upper region, resistance lies at 6.06. The next price resistance is at 6.20. RSI (Relative Strength Index) is 36.76 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.37, which suggests the price will decrease in the coming days. Percent R is at 75.25%, indicating bearish price movement. Stochastics %K at holding indicates that the stock is to be held.

Is GoPro Inc. subject to short interest?

Stocks of GoPro Inc. saw a sharp rise in short interest on Apr 28, 2022 jumping by 2.06 million shares to 15.09 million. Data from Yahoo Finance shows that the short interest on Mar 30, 2022 was 13.03 million shares. A jump of 13.65% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 6.44 of the overall float, the days-to-cover ratio (short ratio) jumped to 6.44.

Which companies own the most shares of GoPro Inc. (GPRO)?

According to The Vanguard Group, Inc. filings, the company currently owns 11,572,186 shares, which is about 8.83% of the total GPRO shares outstanding. The investor’s shares have plunged by -49,149 from its previous 13-F filing of 11621335.0 shares. With the completion of the sale, BlackRock Fund Advisors’s stake is now worth $59,699,940. Prentice Capital Management LP acquire a 5.91% interest valued at $52.45 million while Fidelity Management & Research Co sold a -6,696,221 stake. A total of 476,117 shares of GoPro Inc. were sold by Newton Investment Management Nort during the quarter, and -554,093 were sold by D. E. Shaw & Co. LP. In its current portfolio, Greenlight Capital, Inc. holds 2,697,200 shares valued at $18.64 million.

In terms of GoPro Inc. share price expectations, FactSet research, analysts set an average price target of $10.86 in the next 12 months, up nearly 101.34% from the previous closing price of $5.96. Analysts anticipate GoPro Inc. stock to reach $13.00 by 2022, with the lowest price target being $8.00. In spite of this, 9 analysts ranked GoPro Inc. stock as an Overweight at the end of 2022. On March 16, 2020, Citigroup assigned a price target of “a Sell” to the stock and downgraded coverage with a $2.50.

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