Roku (NASDAQ:ROKU) Trading Down 0.4%

Roku, Inc. (NASDAQ:ROKU) shares dropped 0.4% during trading on Monday . The stock traded as low as $60.25 and last traded at $61.07. Approximately 692,309 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,834,443 shares. The stock had previously closed at $61.32.

Analysts Set New Price Targets

ROKU has been the subject of several research reports. Seaport Res Ptn upgraded Roku from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Jefferies Financial Group assumed coverage on Roku in a report on Thursday, May 2nd. They issued an “underperform” rating and a $50.00 price target on the stock. Wedbush reissued an “outperform” rating and issued a $75.00 price target on shares of Roku in a report on Thursday, June 27th. Wells Fargo & Company raised their price target on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Finally, Benchmark reissued a “buy” rating and issued a $105.00 price target on shares of Roku in a report on Wednesday, July 10th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $82.50.

Roku Stock Performance

The firm has a 50 day moving average price of $58.39 and a 200-day moving average price of $68.08. The company has a market cap of $9.00 billion, a P/E ratio of -15.80 and a beta of 1.96.

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

Insider Buying and Selling at Roku

In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the transaction, the senior vice president now owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Charles Collier sold 7,181 shares of the stock in a transaction that occurred on 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 directly owns 15,654 shares of the company’s stock, valued at approximately $892,747.62. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, SVP Stephen H. Kay sold 12,124 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The disclosure for this sale can be found here. Insiders sold a total of 23,691 shares of company stock valued at $1,334,455 in the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds and other institutional investors have recently bought and sold shares of the business. GAMMA Investing LLC acquired a new stake in Roku during the 4th quarter valued at $27,000. Creative Financial Designs Inc. ADV bought a new position in shares of Roku in the 4th quarter worth $29,000. Quarry LP boosted its position in shares of Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares during the last quarter. Benjamin Edwards Inc. raised its stake in Roku by 43.5% during the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after buying an additional 187 shares during the period. Finally, Geneos Wealth Management Inc. raised its stake in Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after buying an additional 610 shares during the period. 86.30% of the stock is 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.