Insider Selling: MCGEE BRIAN, GoPro Inc. [GPRO] EVP, CFO and COO divested 16,098 shares

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 $108,455 were sold by MCGEE BRIAN on Aug 16. At $6.74 per share, MCGEE BRIAN sold 16,098 shares. The insider’s holdings dropped to 300,610 shares worth approximately $1.54 million following the completion of this transaction.

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Also, Saltman Eve T. sold 2,715 shares, netting a total of over 18,218 in proceeds. Following the sale of shares at $6.71 each, the insider now holds 201,044 shares.

Before that, Jahnke Dean had sold 14,089 shares from its account. In a trade valued at $86,246, the SVP, Global Sales, CM, RE traded GoPro Inc. shares for $6.12 each. Upon closing the transaction, the insider’s holdings decreased to 14,089 shares, worth approximately $1.27 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 57.33% premium over Thursday’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 Thursday, GoPro Inc. [NASDAQ: GPRO] plunged -3.03% to $5.12. The stock’s lowest price that day was $5.11, but it reached a high of $5.28 in the same session. During the last five days, there has been a drop of approximately -10.65%. Over the course of the year, GoPro Inc. shares have dropped approximately -50.34%. Shares of the company reached a 52-week high of $11.11 on 01/05/22 and a 52-week low of $5.11 on 09/22/22. A 50-day SMA is recorded $6.12, while a 200-day SMA reached $7.72. Nevertheless, trading volume fell to 2.19 million shares from 1.92 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 5.06, which, if violated, would cause prices to drop to 5.00. In the upper region, resistance lies at 5.23. The next price resistance is at 5.34. RSI (Relative Strength Index) is 26.70 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.42, which suggests the price will decrease in the coming days. Percent R is at 98.97%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is GoPro Inc. subject to short interest?

Stocks of GoPro Inc. saw a sharp steep in short interest on Jul 14, 2022 dropping by -1.55 million shares to 10.86 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 12.41 million shares. A decline of -14.27% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 4.69 of the overall float, the days-to-cover ratio (short ratio) decline to 4.69.

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

According to The Vanguard Group, Inc. filings, the company currently owns 11,601,092 shares, which is about 8.96% of the total GPRO shares outstanding. The investor’s shares have appreciated by 28,906 from its previous 13-F filing of 11572186.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $55,108,708. Prentice Capital Management LP reduced a -9.15% interest valued at $42.0 million while Fidelity Management & Research Co purchased a 1,133,837 stake. A total of -242,972 shares of GoPro Inc. were bought by Newton Investment Management Nort during the quarter, and -205,960 were sold by D. E. Shaw & Co. LP. In its current portfolio, Dimensional Fund Advisors LP holds 2,908,083 shares valued at $17.71 million.

In terms of GoPro Inc. share price expectations, FactSet research, analysts set an average price target of $9.40 in the next 12 months, up nearly 70.45% from the previous closing price of $5.28. Analysts anticipate GoPro Inc. stock to reach $13.00 by 2022, with the lowest price target being $6.50. In spite of this, 8 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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