Roku (NASDAQ:ROKU) Stock Price Down 1.2%

Shares of Roku, Inc. (NASDAQ:ROKU) traded down 1.2% during mid-day trading on Thursday . The stock traded as low as $59.66 and last traded at $61.08. 1,145,286 shares changed hands during trading, a decline of 79% from the average session volume of 5,562,169 shares. The stock had previously closed at $61.83.

Analyst Ratings Changes

A number of research firms recently weighed in on ROKU. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Friday. Wells Fargo & Company lifted their price objective on shares of Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday. Citigroup reduced their price objective on shares of Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a research note on Wednesday, February 21st. Susquehanna lifted their price objective on shares of Roku from $100.00 to $110.00 and gave the company a “positive” rating in a research note on Friday, February 16th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $89.00 price objective on shares of Roku in a research note on Friday. Five analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $83.90.

Roku Trading Down 10.3 %

The company has a market capitalization of $8.09 billion, a P/E ratio of -14.12 and a beta of 1.66. The business’s fifty day moving average price is $62.80 and its 200-day moving average price is $78.48.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. The company had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The firm’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm posted ($1.38) EPS. As a group, equities research analysts forecast that Roku, Inc. will post -2.12 EPS for the current year.

Insiders Place Their Bets

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the sale, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated 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 in the company, valued at $13,930,039.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now owns 81,459 shares in the company, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock valued at $4,364,035 over the last three months. Insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently modified their holdings of ROKU. FMR LLC increased its position in shares of Roku by 85.9% in the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after acquiring an additional 4,363,754 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after buying an additional 1,457,925 shares during the period. Norges Bank purchased a new position in shares of Roku during the fourth quarter valued at about $90,386,000. Lord Abbett & CO. LLC purchased a new position in shares of Roku during the third quarter valued at about $55,182,000. Finally, Wellington Management Group LLP increased its position in shares of Roku by 34.6% during the third quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock valued at $179,516,000 after buying an additional 653,940 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.