Roku (NASDAQ:ROKU) Trading Down 0.2% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 0.2% during mid-day trading on Thursday . The company traded as low as $71.54 and last traded at $72.10. 499,559 shares changed hands during trading, a decline of 89% from the average session volume of 4,430,611 shares. The stock had previously closed at $72.27.

Analyst Ratings Changes

A number of equities analysts recently weighed in on the company. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target for the company in a research report on Tuesday, October 1st. Jefferies Financial Group reduced their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. JPMorgan Chase & Co. lifted their target price on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a report on Friday, August 23rd. Finally, Benchmark restated a “buy” rating and issued a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $83.95.

Roku Stock Performance

The company has a market capitalization of $10.43 billion, a PE ratio of -60.08 and a beta of 2.07. The stock has a 50 day moving average price of $73.28 and a two-hundred day moving average price of $64.00.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm posted ($2.33) earnings per share. Sell-side analysts predict that Roku, Inc. will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $387,544. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,776 shares of company stock valued at $5,267,305 over the last three months. 13.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roku

Several hedge funds have recently modified their holdings of ROKU. EverSource Wealth Advisors LLC grew its position in Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in Roku during the third quarter valued at about $43,000. Geneos Wealth Management Inc. raised its holdings in Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 610 shares in the last quarter. Cedar Wealth Management LLC bought a new stake in shares of Roku in the 2nd quarter worth approximately $48,000. Finally, Natixis bought a new stake in shares of Roku in the 1st quarter worth approximately $53,000. 86.30% of the stock is 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.