Roku (NASDAQ:ROKU) Stock Price Down 1.6%

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 1.6% on Thursday . The company traded as low as $57.11 and last traded at $57.29. 1,458,614 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 4,721,282 shares. The stock had previously closed at $58.21.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on ROKU. Jefferies Financial Group began coverage on Roku in a research note on Thursday, May 2nd. They set an “underperform” rating and a $50.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $75.00 price target on shares of Roku in a research note on Friday. Susquehanna dropped their price objective on Roku from $110.00 to $80.00 and set a “positive” rating for the company in a report on Monday, April 29th. Benchmark reiterated a “buy” rating and issued a $105.00 target price on shares of Roku in a report on Friday. Finally, Citigroup reduced their price target on shares of Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $79.71.

Roku Trading Down 4.0 %

The company has a fifty day moving average price of $58.43 and a two-hundred day moving average price of $65.28. The firm has a market cap of $7.66 billion, a P/E ratio of -13.32 and a beta of 1.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.17%. The firm had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same period in the previous year, the firm posted ($0.76) EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Roku, Inc. will post -1.94 EPS for the current year.

Insider Transactions at Roku

In related news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the completion of the transaction, the director now directly owns 3,259 shares of the company’s stock, valued at $188,630.92. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, Director Mai Fyfield sold 650 shares of Roku stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the transaction, the director now owns 3,259 shares in the company, valued at $188,630.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction that occurred 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 transaction, the senior vice president now directly owns 82,036 shares in the company, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders have sold a total of 27,075 shares of company stock worth $1,556,005 in the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently modified their holdings of the business. Avantax Advisory Services Inc. boosted its position in Roku by 0.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after acquiring an additional 117 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Roku by 0.3% during the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after buying an additional 150 shares in the last quarter. Mcdonald Partners LLC lifted its position in shares of Roku by 0.9% during the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after acquiring an additional 175 shares during the period. Benjamin Edwards Inc. increased its stake in Roku by 43.5% in the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of Roku by 1.0% in the 4th quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock valued at $1,817,000 after buying an additional 191 shares during the period. 86.30% of the stock is currently 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.