NEW YORK (TheStreet) -- Shares of GoPro (GPRO) - Get Report are rallying, higher by 3.28% to $59.90 in early market trading Tuesday morning, as a lock-up expires on about 15.2 million shares of the camera maker today.
About 7.2 million of shares of the 15.2 million are owned by GoPro founder CEO Nick Woodman's father, Dean Woodman.
GoPro priced its initial public offering on June 26 at $24 per share and had a 180-day lockup period, which expires today.
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Separately, analysts at Wedbush said its channel checks indicate that the GoPro HERO was sold-out at 30 out of 32 Best Buy (BBY) - Get Report locations, 26 out of 27 Target (TGT) - Get Report locations, and 20 out of 27 Walmart (WMT) - Get Report locations.
The firm believes the entry-level HERO is the most popular of the three versions, calling it the "gift of choice this Christmas."
Wedbush analysts expects GoPro to exceed the high-end of its $550 million to $580 million revenue guidance for the fourth quarter.
The firm maintained its "outperform" rating with a $98 price target.