289,097 Shares in Canopy Growth Co. (NASDAQ:CGC) Acquired by Geode Capital Management LLC

Geode Capital Management LLC bought a new stake in shares of Canopy Growth Co. (NASDAQ:CGC) in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 289,097 shares of the company’s stock, valued at approximately $1,882,000. Geode Capital Management LLC owned about 0.31% of Canopy Growth at the end of the most recent quarter.

Other institutional investors have also added to or reduced their stakes in the company. Sassicaia Capital Advisers LLC bought a new stake in Canopy Growth during the third quarter valued at about $54,000. PFG Investments LLC purchased a new position in shares of Canopy Growth during the 3rd quarter valued at about $54,000. Financial Advocates Investment Management purchased a new position in shares of Canopy Growth during the 3rd quarter valued at about $57,000. CIBC Asset Management Inc purchased a new stake in Canopy Growth in the 2nd quarter worth approximately $91,000. Finally, Insigneo Advisory Services LLC purchased a new position in Canopy Growth during the second quarter valued at approximately $96,000. 3.33% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Separately, Atb Cap Markets cut shares of Canopy Growth from a “hold” rating to a “strong sell” rating in a research note on Monday, December 16th.

Canopy Growth Stock Performance

NASDAQ:CGC opened at $2.66 on Thursday. The stock has a 50-day moving average price of $3.56 and a 200 day moving average price of $4.97. The stock has a market capitalization of $289.79 million, a P/E ratio of -0.54 and a beta of 0.87. Canopy Growth Co. has a 12-month low of $2.60 and a 12-month high of $14.92. The company has a current ratio of 1.39, a quick ratio of 1.07 and a debt-to-equity ratio of 0.82.

Canopy Growth Profile

Canopy Growth Corporation, together with its subsidiaries, engages in the production, distribution, and sale of cannabis and hemp-based products for recreational and medical purposes primarily in the United States, Canada, Germany, and internationally. It operates through Canada Cannabis, International Markets Cannabis, and Storz & Bickel segments.