Roku (NASDAQ:ROKU) Stock Price Down 0.8% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price was down 0.8% during mid-day trading on Wednesday . The company traded as low as $79.10 and last traded at $79.12. Approximately 872,372 shares changed hands during mid-day trading, a decline of 69% from the average daily volume of 2,841,934 shares. The stock had previously closed at $79.74.

Analysts Set New Price Targets

Several research firms have commented on ROKU. JMP Securities began coverage on shares of Roku in a research report on Tuesday. They set a “mkt outperform” rating and a $95.00 target price on the stock. Macquarie reissued an “outperform” rating and set a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Rosenblatt Securities boosted their target price on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Piper Sandler lifted their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and an average target price of $83.18.

Roku Price Performance

The stock has a market cap of $11.80 billion, a price-to-earnings ratio of -67.74 and a beta of 2.05. The stock’s 50 day simple moving average is $76.87 and its two-hundred day simple moving average is $71.06.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the business earned ($2.33) EPS. The firm’s revenue was up 16.5% on a year-over-year basis. As a group, analysts predict that Roku, Inc. will post -1.09 earnings per share for the current year.

Insider Activity

In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now directly owns 65,555 shares of the company’s stock, valued at $4,916,625. The trade was a 1.50 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,193,100.32. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 73,095 shares of company stock worth $5,726,218. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several large investors have recently made changes to their positions in the business. Holocene Advisors LP acquired a new position in Roku during the 3rd quarter worth about $129,015,000. Westfield Capital Management Co. LP raised its stake in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after acquiring an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. lifted its position in shares of Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP grew its stake in shares of Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after purchasing an additional 445,777 shares during the last quarter. Finally, FMR LLC increased its holdings in shares of Roku by 1.7% in the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.