FuboTV (NYSE:FUBO) Trading Down 10.6% Following Insider Selling

FuboTV Inc. (NYSE:FUBO) shares were down 10.6% on Monday following insider selling activity. The company traded as low as $4.51 and last traded at $4.57. Approximately 14,676,440 shares traded hands during mid-day trading, a decline of 93% from the average daily volume of 196,705,625 shares. The stock had previously closed at $5.11.

Specifically, COO Alberto Horihuela sold 403,847 shares of the stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $6.03, for a total value of $2,435,197.41. Following the completion of the transaction, the chief operating officer now owns 1,449,751 shares of the company’s stock, valued at approximately $8,741,998.53. This represents a 21.79 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO David Gandler sold 1,425,888 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $5.01, for a total value of $7,143,698.88. Following the completion of the transaction, the chief executive officer now directly owns 346,817 shares of the company’s stock, valued at approximately $1,737,553.17. The trade was a 80.44 % decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

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

FuboTV Price Performance

The stock has a market capitalization of $1.55 billion, a price-to-earnings ratio of -6.93 and a beta of 1.78. The company has a current ratio of 0.54, a quick ratio of 0.54 and a debt-to-equity ratio of 1.50. The stock has a 50-day simple moving average of $1.86 and a 200 day simple moving average of $1.64.

Institutional Investors Weigh In On FuboTV

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. EWG Elevate Inc. lifted its holdings in FuboTV by 50.0% in the 4th quarter. EWG Elevate Inc. now owns 30,000 shares of the company’s stock worth $38,000 after purchasing an additional 10,000 shares during the last quarter. Barclays PLC increased its position in FuboTV by 121.3% in the 3rd quarter. Barclays PLC now owns 1,256,459 shares of the company’s stock worth $1,784,000 after buying an additional 688,625 shares during the period. Geode Capital Management LLC increased its position in FuboTV by 6.4% in the 3rd 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 period. State Street Corp increased its position in FuboTV by 1.9% in the 3rd quarter. State Street Corp now owns 6,934,875 shares of the company’s stock worth $9,848,000 after buying an additional 132,167 shares during the period. Finally, FMR LLC increased its position in FuboTV by 84.5% in the 3rd quarter. FMR LLC now owns 101,914 shares of the company’s stock worth $145,000 after buying an additional 46,670 shares during the period. 39.31% of the stock is currently owned by institutional investors and hedge funds.

FuboTV Company Profile

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.