Roku (NASDAQ:ROKU) Shares Down 1.4% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 1.4% on Monday . The stock traded as low as $85.82 and last traded at $87.07. 647,986 shares traded hands during mid-day trading, a decline of 83% from the average session volume of 3,842,934 shares. The stock had previously closed at $88.27.

Analyst Ratings Changes

Several research analysts have recently weighed in on the stock. Guggenheim reaffirmed a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Friday, May 2nd. Evercore ISI decreased their price target on shares of Roku from $105.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. FBN Securities assumed coverage on shares of Roku in a report on Friday, March 28th. They issued an “outperform” rating and a $93.00 price target on the stock. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Roku in a report on Monday, June 16th. Finally, Compass Point initiated coverage on Roku in a research note on Sunday, March 23rd. They issued a “buy” rating on the stock. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have assigned a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $90.37.

Roku Price Performance

The company has a market cap of $12.76 billion, a P/E ratio of -119.78 and a beta of 2.12. The company’s 50-day moving average is $74.59 and its two-hundred day moving average is $75.28.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating the consensus estimate of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm earned ($0.35) earnings per share. Equities research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $85.00, for a total value of $305,150.00. Following the sale, the insider owned 7,380 shares in the company, valued at approximately $627,300. This trade represents a 32.73% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CAO Matthew C. Banks sold 629 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the sale, the chief accounting officer owned 8,555 shares in the company, valued at $624,343.90. This represents a 6.85% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,020 shares of company stock valued at $4,979,594 in the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Jacobs Levy Equity Management Inc. boosted its holdings in Roku by 505.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock worth $96,402,000 after purchasing an additional 1,082,548 shares during the last quarter. Geode Capital Management LLC boosted its stake in shares of Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after acquiring an additional 56,820 shares during the last quarter. Lecap Asset Management Ltd. purchased a new position in shares of Roku during the 1st quarter worth $511,000. Charles Schwab Investment Management Inc. boosted its stake in shares of Roku by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after acquiring an additional 34,898 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its stake in shares of Roku by 146.4% during the 4th quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock worth $756,000 after acquiring an additional 6,042 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.