Roku (NASDAQ:ROKU) Shares Down 0.2% – Time to Sell?

Roku, Inc. (NASDAQ:ROKU) shares fell 0.2% on Wednesday . The stock traded as low as $77.60 and last traded at $78.41. 708,736 shares were traded during trading, a decline of 84% from the average session volume of 4,447,325 shares. The stock had previously closed at $78.57.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wolfe Research raised 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. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Tuesday, October 1st. Wedbush reiterated an “outperform” rating and issued a $75.00 price objective on shares of Roku in a report on Friday, August 2nd. Rosenblatt Securities decreased their target price on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, JPMorgan Chase & Co. raised their price target on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $81.24.

Roku Stock Up 1.3 %

The stock has a market capitalization of $11.34 billion, a PE ratio of -22.59 and a beta of 2.08. The stock’s 50 day moving average price is $67.59 and its 200-day moving average price is $62.29.

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

Insider Activity at Roku

In other Roku news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 12,064 shares in the company, valued at $784,160. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Roku news, insider Charles Collier sold 3,590 shares of the stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the transaction, the insider now owns 12,064 shares of the company’s stock, valued at $784,160. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku 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 directly owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 47,156 shares of company stock valued at $3,481,100. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Hedge funds have recently modified their holdings of the company. ARK Investment Management LLC grew its holdings in shares of Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after purchasing an additional 159,785 shares in the last quarter. Vanguard Group Inc. lifted its position in Roku by 0.8% during the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in shares of Roku by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after buying an additional 24,926 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.