Roku (NASDAQ:ROKU) Stock Price Down 0.4% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) was down 0.4% during trading on Tuesday . The company traded as low as $78.01 and last traded at $79.58. Approximately 1,505,220 shares were traded during mid-day trading, a decline of 28% from the average daily volume of 2,099,451 shares. The stock had previously closed at $79.91.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of recent research reports. Jefferies Financial Group reduced their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday, November 1st. Benchmark restated a “buy” rating and set a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Rosenblatt Securities increased their price target on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. UBS Group initiated coverage on Roku in a report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price objective for the company. Finally, Bank of America raised their target price on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $83.81.

Roku Stock Down 1.8 %

The firm has a market capitalization of $11.39 billion, a price-to-earnings ratio of -65.39 and a beta of 2.05. The stock’s 50-day moving average price is $75.47 and its 200 day moving average price is $69.54.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the company posted ($2.33) EPS. On average, sell-side analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the sale, the insider now owns 3,790 shares in the company, valued at $269,620.60. This trade represents a 73.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the transaction, the chief financial officer now owns 53,267 shares in the company, valued at $4,061,608.75. This represents a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 73,095 shares of company stock valued at $5,661,038. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently made changes to their positions in the stock. FMR LLC lifted its stake in Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares in the last quarter. Holocene Advisors LP purchased a new position in Roku during the 3rd quarter valued at about $129,015,000. Westfield Capital Management Co. LP increased its stake in Roku by 126.1% during the third 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. lifted its position in shares of Roku by 3.2% during the third 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 in the last quarter. Finally, Point72 Asset Management L.P. grew its holdings in shares of Roku by 352.5% in the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after purchasing an additional 507,643 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.