Roku (NASDAQ:ROKU) Trading Down 0.6%

Roku, Inc. (NASDAQ:ROKU) shares traded down 0.6% during mid-day trading on Wednesday . The stock traded as low as $58.77 and last traded at $59.78. 588,750 shares traded hands during mid-day trading, a decline of 90% from the average session volume of 5,654,881 shares. The stock had previously closed at $60.14.

Analyst Ratings Changes

ROKU has been the subject of several research reports. Jefferies Financial Group initiated coverage on Roku in a research note on Thursday, May 2nd. They set an “underperform” rating and a $50.00 price target for the company. Morgan Stanley lowered their price target on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, April 5th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Roku in a report on Friday, April 26th. Stephens reissued an “overweight” rating and set a $105.00 target price on shares of Roku in a report on Friday, February 16th. Finally, Pivotal Research cut their price target on Roku from $85.00 to $75.00 and set a “hold” rating for the company in a report on Friday, February 16th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $82.50.

Roku Stock Performance

The company has a market cap of $8.58 billion, a P/E ratio of -14.98 and a beta of 1.69. The stock has a 50-day moving average of $61.91 and a two-hundred day moving average of $78.30.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. The firm had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the business posted ($1.38) EPS. As a group, sell-side analysts forecast that Roku, Inc. will post -1.94 EPS for the current fiscal year.

Insider Activity

In related news, Director Jeffrey M. Blackburn purchased 8,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The shares were acquired at an average cost of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The purchase was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the sale, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Jeffrey M. Blackburn bought 8,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The shares were acquired at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the acquisition, the director now owns 8,000 shares in the company, valued at approximately $511,680. The disclosure for this purchase can be found here. In the last quarter, insiders sold 54,751 shares of company stock valued at $4,375,835. Insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in shares of Roku by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after purchasing an additional 380,409 shares in the last quarter. FMR LLC lifted its stake in shares of Roku by 85.9% in the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock worth $666,465,000 after purchasing an additional 4,363,754 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its position in 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. Nikko Asset Management Americas Inc. increased its holdings in Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after buying an additional 1,455,408 shares during the last quarter. Finally, Wellington Management Group LLP raised its position in Roku by 34.6% in the third quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after acquiring an additional 653,940 shares during the period. 86.30% of the stock is owned by hedge funds and other 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.