Roku (NASDAQ:ROKU) Shares Down 2.4% – Time to Sell?

Roku, Inc. (NASDAQ:ROKU) was down 2.4% on Wednesday . The company traded as low as $74.47 and last traded at $74.98. Approximately 887,504 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 4,355,405 shares. The stock had previously closed at $76.79.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of research analyst reports. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. Citigroup lifted their target price on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research report on Friday, August 23rd. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Thursday, September 12th. Finally, Robert W. Baird boosted their target price on shares of Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and a consensus price target of $81.24.

Roku Trading Down 4.8 %

The stock’s fifty day moving average price is $71.40 and its 200 day moving average price is $63.08. The stock has a market cap of $10.57 billion, a P/E ratio of -21.61 and a beta of 2.08.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same quarter in the prior year, the firm earned ($0.76) earnings per share. The firm’s revenue was up 14.3% on a year-over-year basis. On average, analysts anticipate that Roku, Inc. will post -1.44 earnings per share for the current year.

Insider Buying and Selling at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $387,544. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,566 shares of company stock worth $5,254,000 over the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Large investors have recently added to or reduced their stakes in the company. EverSource Wealth Advisors LLC raised its holdings in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Roku during the 3rd quarter valued at about $43,000. Geneos Wealth Management Inc. boosted its stake in shares of Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares in the last quarter. Cedar Wealth Management LLC purchased a new stake in Roku in the second quarter worth about $48,000. Finally, Natixis bought a new stake in Roku during the 1st quarter valued at approximately $53,000. Institutional investors own 86.30% of the company’s stock.

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.