Roku (NASDAQ:ROKU) Stock Price Down 2.5% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) fell 2.5% during trading on Monday . The company traded as low as $79.18 and last traded at $80.72. 907,519 shares were traded during mid-day trading, a decline of 66% from the average session volume of 2,669,800 shares. The stock had previously closed at $82.76.

Wall Street Analyst Weigh In

A number of research firms have recently commented on ROKU. Piper Sandler increased their target price on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Wedbush reissued an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Wednesday, January 8th. JMP Securities reaffirmed a “market outperform” rating and set a $95.00 price objective on shares of Roku in a research report on Monday. Finally, Citizens Jmp raised Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $83.18.

Roku Trading Down 4.4 %

The firm has a 50 day moving average of $78.48 and a 200-day moving average of $72.12. The company has a market cap of $11.49 billion, a P/E ratio of -65.92 and a beta of 2.05.

Insider Activity at Roku

In related news, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now owns 65,555 shares of the company’s stock, valued at $4,916,625. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,885 shares of company stock valued at $5,712,912. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its holdings in Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after buying an additional 244,793 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Roku in the 3rd quarter worth approximately $129,015,000. Westfield Capital Management Co. LP boosted its holdings in shares of Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Roku by 3.2% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after purchasing an additional 30,038 shares during the period. Finally, Point72 Asset Management L.P. boosted its holdings in shares of Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after purchasing an additional 507,643 shares during the period. Hedge funds and other 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.