Roku (NASDAQ:ROKU) Shares Down 1.1%

Roku, Inc. (NASDAQ:ROKU) traded down 1.1% during trading on Monday . The company traded as low as $58.15 and last traded at $58.40. 692,257 shares were traded during mid-day trading, a decline of 85% from the average session volume of 4,757,741 shares. The stock had previously closed at $59.04.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Wells Fargo & Company upped their price objective on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Piper Sandler restated a “neutral” rating and issued a $65.00 price target (down from $81.00) on shares of Roku in a report on Friday, April 26th. Morgan Stanley lowered their price target on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Jefferies Financial Group initiated coverage on Roku in a report on Thursday, May 2nd. They issued an “underperform” rating and a $50.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Thursday, June 20th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $82.89.

Roku Price Performance

The firm has a 50-day moving average of $58.55 and a 200 day moving average of $66.03. The stock has a market capitalization of $8.39 billion, a price-to-earnings ratio of -14.64 and a beta of 1.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 company had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. During the same period last year, the firm posted ($1.38) earnings per share. The business’s revenue was up 19.0% on a year-over-year basis. On average, equities analysts forecast that Roku, Inc. will post -1.94 earnings per share for the current year.

Insider Activity

In other news, SVP Stephen H. Kay sold 12,124 shares of the firm’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 sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In related news, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the sale, the senior vice president now directly owns 82,036 shares in the company, valued at approximately $4,683,435.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, SVP Stephen H. Kay sold 12,124 shares of the business’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 completion of the sale, the senior vice president now 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 27,281 shares of company stock valued at $1,567,805 over the last three months. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several institutional investors have recently added to or reduced their stakes in ROKU. Blue Trust Inc. bought a new stake in Roku in the 4th quarter valued at $115,000. Global Retirement Partners LLC raised its holdings in Roku by 307.1% in the 4th quarter. Global Retirement Partners LLC now owns 684 shares of the company’s stock valued at $58,000 after acquiring an additional 516 shares in the last quarter. Regatta Capital Group LLC acquired a new position in Roku in the 4th quarter valued at $232,000. Arizona State Retirement System raised its holdings in Roku by 1.3% in the 4th quarter. Arizona State Retirement System now owns 34,104 shares of the company’s stock valued at $3,126,000 after acquiring an additional 449 shares in the last quarter. Finally, Asset Management One Co. Ltd. raised its holdings in Roku by 5.4% in the 4th quarter. Asset Management One Co. Ltd. now owns 48,499 shares of the company’s stock valued at $4,564,000 after acquiring an additional 2,499 shares in the last quarter. 86.30% of the stock is currently owned by 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.