Cubist Systematic Strategies LLC Raises Stock Holdings in GoPro, Inc. (NASDAQ:GPRO)

Cubist Systematic Strategies LLC increased its position in GoPro, Inc. (NASDAQ:GPRO) by 396.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 523,745 shares of the company’s stock after buying an additional 418,288 shares during the quarter. Cubist Systematic Strategies LLC’s holdings in GoPro were worth $744,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Point72 DIFC Ltd purchased a new position in shares of GoPro in the second quarter worth $33,000. Sei Investments Co. purchased a new position in shares of GoPro in the second quarter worth $136,000. XTX Topco Ltd increased its stake in shares of GoPro by 416.8% in the second quarter. XTX Topco Ltd now owns 146,382 shares of the company’s stock worth $208,000 after buying an additional 118,059 shares during the period. Oak Thistle LLC purchased a new position in shares of GoPro in the second quarter worth $32,000. Finally, Acadian Asset Management LLC increased its stake in shares of GoPro by 109.7% in the second quarter. Acadian Asset Management LLC now owns 4,415,441 shares of the company’s stock worth $6,267,000 after buying an additional 2,309,500 shares during the period. 70.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

GPRO has been the topic of a number of research analyst reports. Wedbush reduced their price objective on shares of GoPro from $2.00 to $1.50 and set a “neutral” rating on the stock in a research report on Wednesday, August 7th. StockNews.com raised shares of GoPro from a “sell” rating to a “hold” rating in a research report on Friday, September 13th.

GoPro Stock Down 3.0 %

Shares of GoPro stock opened at $1.29 on Friday. The company has a current ratio of 1.47, a quick ratio of 1.07 and a debt-to-equity ratio of 0.50. The company’s fifty day simple moving average is $1.32 and its two-hundred day simple moving average is $1.57. The company has a market cap of $193.37 million, a P/E ratio of -0.54 and a beta of 1.55. GoPro, Inc. has a 12-month low of $1.16 and a 12-month high of $3.80.

GoPro (NASDAQ:GPRO) last announced its earnings results on Tuesday, August 6th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.25) by $0.01. GoPro had a negative net margin of 42.19% and a negative return on equity of 24.57%. The firm had revenue of $186.22 million for the quarter, compared to analysts’ expectations of $170.02 million. During the same quarter in the previous year, the business posted ($0.13) EPS. The company’s quarterly revenue was down 22.7% on a year-over-year basis. Research analysts anticipate that GoPro, Inc. will post -0.67 EPS for the current year.

GoPro 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.