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

Shares of Roku, Inc. (NASDAQ:ROKU) dropped 0.8% on Wednesday . The company traded as low as $79.10 and last traded at $79.12. Approximately 872,372 shares were traded during trading, a decline of 69% from the average daily volume of 2,841,934 shares. The stock had previously closed at $79.74.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several recent research reports. Bank of America increased their price objective on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Jefferies Financial Group dropped their target price on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Macquarie reiterated an “outperform” rating and issued a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. Finally, Morgan Stanley lifted their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $83.18.

Roku Trading Up 0.6 %

The company’s fifty day moving average price is $76.72 and its two-hundred day moving average price is $70.88. The firm has a market cap of $11.65 billion, a P/E ratio of -66.82 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The firm 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 company’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($2.33) EPS. On average, analysts predict that Roku, Inc. will post -1.09 EPS for the current fiscal year.

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the sale, the chief financial officer now owns 63,555 shares of the company’s stock, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at $518,940.16. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 73,095 shares of company stock worth $5,726,218 over the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Hedge funds have recently made changes to their positions in the business. GS Investments Inc. increased its position in Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the period. PFG Investments LLC increased its position in Roku by 3.7% during the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after acquiring an additional 150 shares during the period. True Vision MN LLC raised its stake in Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after purchasing an additional 152 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Roku by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after purchasing an additional 202 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its holdings in shares of Roku by 11.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after purchasing an additional 222 shares during the period. 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.