GoPro's (GPRO) Stock Is Down As President Anthony John Bates Sells Off 7434 Shares

GoPro's

stock is down 3.8% today. According to AnalystRatingsNetwork.com, an insider sold shares in the company. The company's president Anthony John Bates had sold off 7434 of its shares last Monday. Bates sold GoPro's stock at an average price of $17.61, for a total value of $130,912.74. After the transaction was completed, the president now is the owner of 19,963 shares in GoPro, valued at $351,548.43. The company's last quarterly earnings data was released on Wednesday, October 28th. GoPro reported $0.25 EPS for the quarter, missing the Zacks' consensus estimate of $0.29 by $0.04. The company had revenue of $400.34 million for the quarter, compared to the consensus estimate of $435.33 million. GoPro's revenue was up 43.0% compared to the same quarter last year. RW Baird Equity Research analysts had downgraded GoPro's price target and rating, no longer believing that the company will meet prior performance targets. The research firm now predicts that Q42015 revenue of $474.7 million will be down from $525.2 million that they had previously estimated for the quarter. William Power, an analyst at RW Baird, had cut his rating to neutral last Friday, after the stock being outperformed for more than eight months. Power also slashed his GoPro stock price target in half to $18, which is 4.9% below Thursday's closing price of $18.93. GoPro's stock has fallen 49% over the past few months. "We acknowledge the recent stock weakness and high investor skepticism, but with consensus estimates likely to fall further and no clear near-term catalyst, we are moving to the sidelines," Power stated in a note to RW Baird Equity Research clients GoPro's current market capitalization is of $2.42 billion and a price-to-earnings ratio of 14.42 GoPro Inc has a 52-week low of $17.24 and a 52-week high of $69.75. The company has a 50-day moving average price of $23.29 and a 200 day moving average price of $42.19.