Geode Capital Management LLC Sells 17,863 Shares of GoPro, Inc. (NASDAQ:GPRO)

Geode Capital Management LLC trimmed its holdings in GoPro, Inc. (NASDAQ:GPRO) by 0.6% in the 3rd quarter, according to its most recent filing with the SEC. The institutional investor owned 2,873,065 shares of the company’s stock after selling 17,863 shares during the quarter. Geode Capital Management LLC’s holdings in GoPro were worth $3,908,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Bank of New York Mellon Corp lifted its holdings in shares of GoPro by 13.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 452,395 shares of the company’s stock valued at $642,000 after buying an additional 53,614 shares during the period. Acadian Asset Management LLC lifted its holdings in GoPro by 109.7% in the second quarter. Acadian Asset Management LLC now owns 4,415,441 shares of the company’s stock valued at $6,267,000 after acquiring an additional 2,309,500 shares during the period. Oak Thistle LLC purchased a new position in GoPro in the second quarter worth about $32,000. XTX Topco Ltd boosted its position in 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 purchasing an additional 118,059 shares during the last quarter. Finally, Sei Investments Co. bought a new stake in shares of GoPro during the 2nd quarter valued at about $136,000. Hedge funds and other institutional investors own 70.09% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on GPRO shares. StockNews.com raised shares of GoPro from a “sell” rating to a “hold” rating in a report on Friday, September 13th. Wedbush reissued a “neutral” rating and set a $1.50 price objective on shares of GoPro in a research report on Wednesday, November 6th.

GoPro Stock Performance

Shares of GPRO opened at $1.15 on Tuesday. The business has a 50-day simple moving average of $1.24 and a two-hundred day simple moving average of $1.32. The company has a quick ratio of 0.87, a current ratio of 1.32 and a debt-to-equity ratio of 0.51. GoPro, Inc. has a 52 week low of $1.07 and a 52 week high of $3.40. The stock has a market cap of $177.98 million, a price-to-earnings ratio of -0.44 and a beta of 1.53.

About GoPro

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.