Roku (NASDAQ:ROKU) Stock Price Down 4.6% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) was down 4.6% during mid-day trading on Monday . The stock traded as low as $67.50 and last traded at $69.18. Approximately 871,632 shares changed hands during trading, a decline of 76% from the average daily volume of 3,701,781 shares. The stock had previously closed at $72.49.

Analyst Upgrades and Downgrades

Several research firms recently commented on ROKU. Wedbush restated an “outperform” rating and issued a $100.00 target price on shares of Roku in a research report on Monday, February 10th. Benchmark lifted their price objective on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their target price on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research report on Friday, February 14th. Rosenblatt Securities restated a “neutral” rating and set a $86.00 price target on shares of Roku in a research report on Thursday, February 13th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price target on shares of Roku in a research note on Monday, March 24th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and three have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.55.

Roku Trading Up 0.2 %

The company’s 50-day moving average is $80.80 and its 200 day moving average is $77.67. The firm has a market cap of $10.30 billion, a PE ratio of -79.33 and a beta of 2.12.

Roku (NASDAQ:ROKU) last released 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 return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. On average, research analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at $583,092.16. This trade represents a 20.80 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the transaction, the chief financial officer now directly owns 63,555 shares in the company, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,908 shares of company stock valued at $8,633,436 over the last three months. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

Large investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its position in Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares in the last quarter. Vision Financial Markets LLC bought a new position in shares of Roku during the 4th quarter valued at $30,000. Raelipskie Partnership acquired a new stake in shares of Roku in the 3rd quarter valued at $32,000. Game Plan Financial Advisors LLC bought a new stake in Roku in the fourth quarter worth $37,000. Finally, Harvest Fund Management Co. Ltd increased its position in Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after buying an additional 491 shares during the last quarter. 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.