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AF. Bauer DOWNGRADE GOPRO INC. (GPRO) TO NEUTRAL

GoPro Inc. (NASDAQ:GPRO) was downgraded by research analysts at AF. Bauer from an “outperform” rating to a “neutral” rating in a research note issued on Wednesday. They presently have a $9.00 price objective on the stock, down from their previous price objective of $12.00. AF. Bauer’s price objective indicates a potential downside of 12.45% from the company’s previous close.

GPRO has been the subject of several other research reports. Raymond James Financial Inc. restated an “outperform” rating on shares of GoPro in a research note on Friday, October 14th. JPMorgan Chase & Co. reiterated an “overweight” rating and issued a $16.00 price objective on shares of GoPro in a research note on Saturday, October 15th. Zacks Investment Research upgraded shares of GoPro from a “hold” rating to a “buy” rating and set a $19.00 price objective for the company in a research note on Tuesday, September 27th. Dougherty & Co reiterated a “positive” rating on shares of GoPro in a research note on Wednesday, September 7th. Finally, Vetr upgraded shares of GoPro from a “buy” rating to a “strong-buy” rating and set a $17.43 price objective for the company in a research note on Monday, August 22nd. Three investment analysts have rated the stock with a sell rating, nineteen have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $13.70.

Shares of GoPro (NASDAQ:GPRO) traded up 0.69% during mid-day trading on Wednesday, reaching $10.28. The company has a 50 day moving average price of $14.25 and a 200 day moving average price of $12.65. GoPro has a 12 month low of $8.62 and a 12 month high of $22.95. The stock’s market cap is $1.45 billion.

GoPro (NASDAQ:GPRO) last released its earnings results on Thursday, November 3rd. The company reported ($0.60) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($0.35) by $0.25. GoPro had a negative return on equity of 49.53% and a negative net margin of 31.23%. The firm earned $240.57 million during the quarter, compared to analyst estimates of $315.89 million. During the same quarter last year, the business posted $0.25 EPS. The firm’s revenue was down 39.9% on a year-over-year basis. Analysts predict that GoPro will post ($1.48) EPS for the current year.

In other news, President Anthony John Bates sold 9,704 shares of the business’s stock in a transaction on Wednesday, September 7th. The shares were sold at an average price of $14.16, for a total transaction of $137,408.64. Following the transaction, the president now directly owns 398,137 shares of the company’s stock, valued at $5,637,619.92. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Michael E. Marks sold 40,000 shares of the business’s stock in a transaction on Monday, August 15th. The stock was sold at an average price of $15.58, for a total transaction of $623,200.00. The disclosure for this sale can be found here. Insiders own 28.69% of the company’s stock.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Gilder Gagnon Howe & Co. LLC purchased a new position in GoPro during the third quarter worth approximately $109,000. MSI Financial Services Inc raised its stake in shares of GoPro by 42.9% in the third quarter. MSI Financial Services Inc now owns 6,812 shares of the company’s stock worth $114,000 after buying an additional 2,044 shares during the period. NEXT Financial Group Inc raised its stake in shares of GoPro by 73.5% in the third quarter. NEXT Financial Group Inc now owns 7,175 shares of the company’s stock worth $120,000 after buying an additional 3,040 shares during the period. Advisor Group Inc. bought a new stake in shares of GoPro during the second quarter worth about $100,000. Finally, BlueMountain Capital Management LLC bought a new stake in shares of GoPro during the first quarter worth about $117,000. 28.36% of the stock is currently owned by institutional investors and hedge funds.

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