Roku (NASDAQ:ROKU) Stock Price Down 0.2%

Roku, Inc. (NASDAQ:ROKU)’s stock price dropped 0.2% during trading on Wednesday . The company traded as low as $61.25 and last traded at $61.59. Approximately 850,679 shares changed hands during trading, a decline of 85% from the average daily volume of 5,590,202 shares. The stock had previously closed at $61.74.

Analyst Upgrades and Downgrades

ROKU has been the topic of a number of recent research reports. Morgan Stanley cut their price target on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, April 5th. Citigroup cut their price target on shares of Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Oppenheimer lowered shares of Roku from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Pivotal Research dropped their target price on shares of Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Finally, Stephens restated an “overweight” rating and issued a $105.00 target price on shares of Roku in a report on Friday, February 16th. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and an average price target of $84.76.

Roku Stock Performance

The company has a market capitalization of $8.87 billion, a PE ratio of -12.27 and a beta of 1.66. The stock’s 50 day moving average is $64.33 and its 200 day moving average is $78.82.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.65) by $0.10. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The business had revenue of $984.40 million for the quarter, compared to analysts’ expectations of $967.72 million. During the same period in the prior year, the company posted ($1.70) EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that Roku, Inc. will post -2.12 EPS for the current fiscal year.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of the firm’s stock in a transaction dated Wednesday, March 13th. The stock was bought at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the acquisition, the director now directly owns 8,000 shares in the company, valued at $511,680. The disclosure for this purchase can be found here. Insiders have sold 54,545 shares of company stock valued at $4,364,035 in the last quarter. Insiders own 13.63% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently bought and sold shares of ROKU. Spire Wealth Management grew its stake in shares of Roku by 77.9% in the first quarter. Spire Wealth Management now owns 1,224 shares of the company’s stock worth $80,000 after acquiring an additional 536 shares during the period. Global Retirement Partners LLC lifted its holdings in Roku by 76.5% during the first quarter. Global Retirement Partners LLC now owns 1,207 shares of the company’s stock valued at $79,000 after purchasing an additional 523 shares in the last quarter. Kessler Investment Group LLC lifted its holdings in Roku by 2.6% during the first quarter. Kessler Investment Group LLC now owns 62,233 shares of the company’s stock valued at $4,056,000 after purchasing an additional 1,593 shares in the last quarter. PFG Investments LLC purchased a new position in shares of Roku in the first quarter worth $305,000. Finally, IFM Investors Pty Ltd lifted its holdings in shares of Roku by 8.3% in the first quarter. IFM Investors Pty Ltd now owns 24,440 shares of the company’s stock worth $1,593,000 after buying an additional 1,864 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.