Roku (NASDAQ:ROKU) Trading Down 0% – Should You Sell?

Roku, Inc. (NASDAQ:ROKU)’s share price was down 0% during trading on Thursday . The stock traded as low as $75.51 and last traded at $77.84. Approximately 684,817 shares changed hands during trading, a decline of 81% from the average daily volume of 3,675,501 shares. The stock had previously closed at $77.87.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Rosenblatt Securities restated a “neutral” rating and issued a $86.00 price target on shares of Roku in a research note on Thursday, February 13th. Compass Point began coverage on shares of Roku in a report on Sunday, March 23rd. They set a “buy” rating for the company. JMP Securities upped their target price on shares of Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Needham & Company LLC reiterated a “buy” rating and issued a $120.00 price target on shares of Roku in a research note on Monday, March 24th. Finally, UBS Group upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and an average price target of $96.55.

Roku Stock Performance

The stock has a market cap of $10.58 billion, a P/E ratio of -81.45 and a beta of 2.12. The firm has a 50 day simple moving average of $81.10 and a two-hundred day simple moving average of $77.59.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, equities research analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Insider Activity at Roku

In related news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares of the company’s stock, valued at $577,485. The trade was a 49.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the sale, the chief financial officer now owns 68,843 shares in the company, valued at approximately $5,163,225. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,908 shares of company stock worth $8,633,436 over the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

A number of hedge funds have recently modified their holdings of the business. Charles Schwab Investment Management Inc. lifted its stake in Roku by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after acquiring an additional 30,038 shares in the last quarter. Citigroup Inc. lifted its position in shares of Roku by 73.0% in the third quarter. Citigroup Inc. now owns 101,529 shares of the company’s stock worth $7,580,000 after purchasing an additional 42,837 shares in the last quarter. Cerity Partners LLC boosted its holdings in shares of Roku by 11.1% during the third quarter. Cerity Partners LLC now owns 26,534 shares of the company’s stock worth $1,981,000 after purchasing an additional 2,644 shares during the period. Brooklyn Investment Group acquired a new position in Roku in the 3rd quarter valued at approximately $95,000. Finally, Summit Partners Public Asset Management LLC acquired a new stake in shares of Roku during the 3rd quarter valued at $896,000. Hedge funds and other 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.