FuboTV (NYSE:FUBO) Shares Gap Down After Insider Selling

FuboTV Inc. (NYSE:FUBO) gapped down before the market opened on Wednesday following insider selling activity. The stock had previously closed at $5.46, but opened at $4.63. FuboTV shares last traded at $4.71, with a volume of 33,341,018 shares.

Specifically, CEO David Gandler sold 1,425,888 shares of FuboTV stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $5.01, for a total transaction of $7,143,698.88. Following the transaction, the chief executive officer now directly owns 346,817 shares of the company’s stock, valued at $1,737,553.17. The trade was a 80.44 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink.

Wall Street Analysts Forecast Growth

Separately, Roth Mkm reissued a “neutral” rating and issued a $4.75 target price (up previously from $2.00) on shares of FuboTV in a research note on Tuesday. Four investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the stock. According to data from MarketBeat.com, FuboTV presently has an average rating of “Hold” and a consensus price target of $3.43.

FuboTV Price Performance

The company has a market cap of $1.71 billion, a price-to-earnings ratio of -7.63 and a beta of 1.78. The company’s 50-day simple moving average is $1.79 and its 200-day simple moving average is $1.61. The company has a debt-to-equity ratio of 1.50, a current ratio of 0.54 and a quick ratio of 0.54.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Barclays PLC increased its holdings in FuboTV by 121.3% during the 3rd quarter. Barclays PLC now owns 1,256,459 shares of the company’s stock worth $1,784,000 after purchasing an additional 688,625 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of FuboTV by 6.4% in the third quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock worth $10,087,000 after buying an additional 425,906 shares during the last quarter. State Street Corp raised its holdings in FuboTV by 1.9% in the third quarter. State Street Corp now owns 6,934,875 shares of the company’s stock valued at $9,848,000 after acquiring an additional 132,167 shares in the last quarter. FMR LLC boosted its stake in FuboTV by 84.5% during the 3rd quarter. FMR LLC now owns 101,914 shares of the company’s stock valued at $145,000 after acquiring an additional 46,670 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. boosted its stake in FuboTV by 8.4% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,588,921 shares of the company’s stock valued at $3,676,000 after acquiring an additional 200,154 shares during the last quarter. 39.31% of the stock is currently owned by hedge funds and other institutional investors.

About FuboTV

fuboTV, Inc engages in providing subscription to sports, news, and entertainment content. It offers its services through streaming devices and on television, mobile phones, tablets, and computers. The company was founded by David Gandler, Alberto Horihuela Suarez, and Sung Ho Choi on February 20, 2009 and is headquartered in New York, NY.