Roku (NASDAQ:ROKU) Trading Down 0.1% – Here’s Why

Roku, Inc. (NASDAQ:ROKU) traded down 0.1% on Thursday . The company traded as low as $77.55 and last traded at $78.39. 631,601 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 4,365,909 shares. The stock had previously closed at $78.49.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Macquarie reissued an “outperform” rating and issued a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Loop Capital upped their target price on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Finally, Rosenblatt Securities raised their price target on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Down 0.3 %

The firm has a market cap of $11.36 billion, a price-to-earnings ratio of -65.19 and a beta of 2.06. The business has a 50 day moving average of $75.26 and a 200 day moving average of $67.48.

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

Insider Buying and Selling at Roku

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 transaction of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $387,544. The trade was a 83.28 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 73,096 shares of company stock worth $5,661,223. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently bought and sold shares of ROKU. Raelipskie Partnership acquired a new position in shares of Roku in the 3rd quarter valued at approximately $32,000. Future Financial Wealth Managment LLC bought a new stake in shares of Roku in the 3rd quarter valued at approximately $43,000. GS Investments Inc. raised its position in shares of Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares in the last quarter. EverSource Wealth Advisors LLC lifted its stake in Roku by 123.4% during the second 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. Finally, Cedar Wealth Management LLC acquired a new position in Roku in the second quarter worth $48,000. Institutional investors and hedge funds 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.