GoPro Inc (NASDAQ:GPRO) shares are down today along with the general market despite the fact that they’ve just launched a TV Channel on Amazon’s (AMZN) Fire TV. The channel, which will be available to Fire TV users, will feature content created by GoPro themselves, as well as user generated content. So far some examples of the content available include daring wingsuit flights, downhill mountain bike rides and much more. All of the videos seem to have one thing in common and that is to show off the power of GoPro (NASDAQ:GPRO) cameras.
The stock has dropped 2.86% or $0.51 trading at $17.49, despite this positive news. Approximately 4.74 million shares traded hands. GPRO shares have declined 63.81% since May 4, 2015 and are currently downtrending. It has underperformed the S&P500 by 62.73%.
From a total of 14 analysts covering GoPro Inc (NASDAQ:GPRO) stock, 9 rate it a “Buy”, 2 a “Sell”, and 3 a “Hold”. This means that 64% of the ratings are positive. The highest target price is $90 while the lowest target price is $15. The mean of all analyst targets is $42.89 which is 145.23% above today’s ($17.49) stock price. GoPro Inc was the topic of 40 analyst reports since July 22, 2015 according to the firm StockzIntelligence Inc. Robert W. Baird downgraded shares on December 4 to a “Neutral” rating. Citigroup maintained shares with a”Buy” rating and a $90 target share price in their report from a September 17. Northland Capital maintained GPRO stock in a recent report from October 29 with a “Outperform” rating. Hilliard Lyons initiated the rating on September 8. Hilliard Lyons has a “Buy” rating and a $48 price target on shares. Finally, Morgan Stanley maintained the stock with a “Equal-Weight” rating in a report they issued on an October 29.
The institutional sentiment increased to 1.71 in Q2 2015. It’s up 0.09, from 1.62 in 2015Q1. The ratio improved, as 51 funds sold all their GoPro Inc shares they owned while 42 reduced their positions. 81 funds bought stakes while 78 increased their total positions. Institutions now own 37.46 million shares which is 42.84% more than the previous share count of 26.23 million in 2015Q1.
Sageview Capital Lp holds 36.3% of its total portfolio in GoPro Inc, equating to 2.30 million shares. Tide Point Capital Management Lp owns 350,000 shares representing 2.4% of their total US portfolio. Moreover, Hamilton Lane Advisors Llc has 2.13% of their total portfolio invested in the company, equating to 106,967 shares. The Wyoming-based Friess Associates Llc has a total of 1.49% of their portfolio invested in the stock. Kopp Investment Advisors Llc, a Minnesota-based fund reported 61,460 shares owned.
GoPro, Inc. produces mountable and wearable cameras and accessories, which the Company refers to as capture devices. The company has a market cap of $2.42 billion. Additionally, the Company develops and provides desktop editing software and mobile applications for free to consumers. It has 14.54 P/E ratio. The Firm offers HERO line of capture devices, which include HERO2, HERO3 camera, the HERO3+ camera and the HERO4 and HERO.