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

FuboTV Inc. (NYSE:FUBO) shares gapped down prior to trading on Tuesday following insider selling activity. The stock had previously closed at $4.45, but opened at $4.31. FuboTV shares last traded at $4.50, with a volume of 8,713,087 shares trading hands.

Specifically, COO Alberto Horihuela sold 5,868 shares of the firm’s stock in a transaction that occurred on Friday, January 10th. The shares were sold at an average price of $5.98, for a total transaction of $35,090.64. Following the completion of the transaction, the chief operating officer now owns 1,446,730 shares of the company’s stock, valued at approximately $8,651,445.40. This trade represents a 0.40 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Alberto Horihuela sold 403,847 shares of the stock in a transaction that occurred on Tuesday, January 7th. The shares were sold at an average price of $6.03, for a total transaction of $2,435,197.41. Following the sale, the chief operating officer now owns 1,449,751 shares in the company, valued at approximately $8,741,998.53. The trade was a 21.79 % decrease in their position. The disclosure for this sale can be found here. In other news, CEO David Gandler sold 1,425,888 shares of the 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 sale, the chief executive officer now owns 346,817 shares in the company, valued at $1,737,553.17. This represents a 80.44 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website.

Wall Street Analyst Weigh In

Separately, Roth Mkm restated a “neutral” rating and issued a $4.75 target price (up previously from $2.00) on shares of FuboTV in a report on Tuesday, January 7th. Four research analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, FuboTV currently has an average rating of “Hold” and an average target price of $3.43.

FuboTV Stock Up 1.5 %

The stock has a market capitalization of $1.33 billion, a P/E ratio of -5.96 and a beta of 1.78. The company’s 50-day moving average price is $1.97 and its 200 day moving average price is $1.68. The company has a debt-to-equity ratio of 1.50, a quick ratio of 0.54 and a current ratio of 0.54.

Institutional Trading of FuboTV

Several institutional investors and hedge funds have recently modified their holdings of the company. Marshall Wace LLP raised its position in shares of FuboTV by 114.1% during the 2nd quarter. Marshall Wace LLP now owns 8,373,543 shares of the company’s stock valued at $10,383,000 after purchasing an additional 4,461,707 shares during the period. Geode Capital Management LLC raised its position in shares of FuboTV by 6.4% during the 3rd quarter. Geode Capital Management LLC now owns 7,102,040 shares of the company’s stock valued at $10,087,000 after purchasing an additional 425,906 shares during the period. State Street Corp raised its position in shares of FuboTV by 1.9% during the 3rd quarter. State Street Corp now owns 6,934,875 shares of the company’s stock valued at $9,848,000 after purchasing an additional 132,167 shares during the period. Millennium Management LLC raised its position in shares of FuboTV by 132.6% during the 2nd quarter. Millennium Management LLC now owns 4,810,529 shares of the company’s stock valued at $5,965,000 after purchasing an additional 2,742,780 shares during the period. Finally, Charles Schwab Investment Management Inc. increased its holdings in FuboTV by 8.4% in 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 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.