Major Holders Of GoPro Shift Stakes Ahead Of Lock-Up Expiration
GoPro Inc (NASDAQ: GPRO) closed Friday little changed after a raft of filings revealed shifting stakes among major shareholders.
GoPro shares tumbled last week when the company offered a disappointing outlook and its chief operating officer abruptly resigned.
A lock-up on 76.1 million GoPro shares expires Tuesday and at least some analysts have predicted the shares will fall further as a result.
On Friday, Foxteq Holdings Inc. boosted its stake in GoPro to a 15.3 percent stake.
Foxteq, an earlier investor in GoPro, had reduced its holdings via the company's June initial public offering to 10 percent, from 10.18 percent.
Also Friday, Susquehanna Fundamental Investments, LLC disclosed a 6.7 percent stake in GoPro; as of the offering Susquehanna wasn't a major shareholder.
Family members and a trust related to GoPro Chief Executive Nicholas Woodman disclosed a combined 22.9 percent stake on Friday.
As of the IPO, Woodman had controlled about 54 percent of GoPro shares.
On Thursday, Wellington Management Group LLP disclosed a 7.4 percent stake held on behalf of clients.
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