Roku (NASDAQ:ROKU) Trading Down 3.3%

Shares of Roku, Inc. (NASDAQ:ROKU) were down 3.3% during trading on Wednesday . The company traded as low as $60.90 and last traded at $61.02. Approximately 1,152,550 shares changed hands during mid-day trading, a decline of 76% from the average daily volume of 4,874,235 shares. The stock had previously closed at $63.11.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Roku in a research note on Wednesday. Seaport Res Ptn raised shares of Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Rosenblatt Securities restated a “neutral” rating and issued a $89.00 price target on shares of Roku in a report on Friday, April 26th. Morgan Stanley cut their price objective 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. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $65.00 target price (down previously from $81.00) on shares of Roku in a research report on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $82.50.

Roku Stock Up 1.1 %

The stock’s 50 day moving average price is $58.34 and its two-hundred day moving average price is $68.66. The stock has a market cap of $8.84 billion, a price-to-earnings ratio of -15.31 and a beta of 1.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period last year, the firm earned ($1.38) EPS. On average, analysts predict that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, insider Charles Collier sold 7,181 shares of the stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total transaction of $409,532.43. Following the sale, the insider now directly owns 15,654 shares of the company’s stock, valued at $892,747.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total value of $409,532.43. Following the completion of the transaction, the insider now owns 15,654 shares of the company’s stock, valued at approximately $892,747.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the completion of the sale, the director now directly owns 3,259 shares in the company, valued at $188,630.92. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 23,691 shares of company stock worth $1,334,455. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Large investors have recently added to or reduced their stakes in the stock. Nordea Investment Management AB raised its position in shares of Roku by 8.2% during the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock worth $669,000 after purchasing an additional 551 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in shares of Roku by 8.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock valued at $1,043,000 after acquiring an additional 914 shares during the last quarter. Norges Bank purchased a new position in shares of Roku in the fourth quarter valued at approximately $90,386,000. Garde Capital Inc. purchased a new stake in shares of Roku during the fourth quarter worth approximately $105,000. Finally, Deutsche Bank AG raised its stake in Roku by 27.6% in the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock valued at $10,922,000 after purchasing an additional 33,500 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.