Roku (NASDAQ:ROKU) Shares Down 1.8%

Roku, Inc. (NASDAQ:ROKU) fell 1.8% on Tuesday . The stock traded as low as $57.60 and last traded at $57.84. 677,518 shares traded hands during trading, a decline of 86% from the average session volume of 4,741,674 shares. The stock had previously closed at $58.90.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on ROKU. Piper Sandler reaffirmed 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. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $89.00 target price on shares of Roku in a research report on Friday, April 26th. Seaport Res Ptn raised shares of Roku from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Morgan Stanley decreased their price objective on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Finally, Citigroup cut their target price on Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Four research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and a consensus target price of $82.89.

Roku Stock Performance

The company has a market cap of $8.29 billion, a PE ratio of -14.50 and a beta of 1.96. The stock’s 50-day simple moving average is $58.54 and its 200 day simple moving average is $65.83.

Insider Buying and Selling

In other Roku news, insider Charles Collier sold 3,590 shares of Roku stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the sale, the insider now owns 12,064 shares of the company’s stock, valued at approximately $784,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the transaction, the senior vice president now owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles Collier sold 3,590 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now owns 12,064 shares of the company’s stock, valued at approximately $784,160. The disclosure for this sale can be found here. Insiders sold 27,281 shares of company stock valued at $1,567,805 over the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently made changes to their positions in ROKU. Vanguard Personalized Indexing Management LLC grew its position in Roku by 8.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock worth $1,043,000 after buying an additional 914 shares during the period. Norges Bank purchased a new position in Roku in the 4th quarter valued at approximately $90,386,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its stake in Roku by 23.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after purchasing an additional 11,851 shares in the last quarter. Garde Capital Inc. acquired a new position in Roku during the fourth quarter worth $105,000. Finally, Vanguard Group Inc. boosted its position in Roku by 0.8% during the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after purchasing an additional 92,658 shares in the last quarter. 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.