Roku (NASDAQ:ROKU) Stock Price Down 0.5%

Roku, Inc. (NASDAQ:ROKU)’s stock price traded down 0.5% during trading on Thursday . The stock traded as low as $62.06 and last traded at $62.48. 382,564 shares traded hands during trading, a decline of 92% from the average session volume of 4,636,634 shares. The stock had previously closed at $62.77.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on ROKU shares. Bank of America decreased their price target on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 2nd. JPMorgan Chase & Co. decreased their target price on shares of Roku from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Macquarie dropped their price target on shares of Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Susquehanna decreased their price objective on shares of Roku from $110.00 to $80.00 and set a “positive” rating for the company in a research report on Monday, April 29th. Finally, Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Thursday, June 20th. Four analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $79.71.

Roku Price Performance

The business’s fifty day simple moving average is $58.29 and its 200 day simple moving average is $62.25. The stock has a market cap of $9.05 billion, a price-to-earnings ratio of -15.66 and a beta of 1.96.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the business posted ($0.76) EPS. As a group, equities analysts forecast that Roku, Inc. will post -1.45 EPS for the current fiscal year.

Insider Activity

In other Roku news, insider Charles Collier sold 3,590 shares of the stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the sale, the insider now directly owns 12,064 shares of the company’s stock, valued at $784,160. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other Roku news, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the sale, the insider now owns 12,064 shares in the company, valued at $784,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the transaction, the senior vice president now owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 27,075 shares of company stock valued at $1,556,005. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Granite Bay Wealth Management LLC bought a new position in Roku in the 2nd quarter valued at about $1,142,000. Quarry LP lifted its stake in shares of Roku by 127.9% in the 2nd quarter. Quarry LP now owns 1,682 shares of the company’s stock worth $101,000 after acquiring an additional 944 shares during the period. Algert Global LLC boosted its holdings in shares of Roku by 144.4% in the second quarter. Algert Global LLC now owns 55,177 shares of the company’s stock valued at $3,307,000 after acquiring an additional 32,603 shares in the last quarter. Empirical Capital Management LLC increased its stake in shares of Roku by 10.0% during the second quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock valued at $10,608,000 after acquiring an additional 16,031 shares during the period. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of Roku during the second quarter valued at approximately $3,437,000. 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.