Roku (NASDAQ:ROKU) Stock Price Down 0.3% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) was down 0.3% on Thursday . The stock traded as low as $75.39 and last traded at $76.28. Approximately 537,523 shares traded hands during trading, a decline of 81% from the average daily volume of 2,776,946 shares. The stock had previously closed at $76.53.

Analyst Ratings Changes

A number of brokerages have weighed in on ROKU. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Roku in a research report on Tuesday, January 7th. Wells Fargo & Company raised their target price on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Jefferies Financial Group dropped their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Citigroup upped their price target on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Finally, Moffett Nathanson lowered Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective on the stock. in a research note on Friday, January 10th. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $82.62.

Roku Trading Down 1.5 %

The business’s fifty day moving average price is $76.64 and its 200 day moving average price is $70.53. The company has a market capitalization of $10.95 billion, a P/E ratio of -62.84 and a beta of 2.05.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the company earned ($2.33) earnings per share. Equities research analysts anticipate that Roku, Inc. will post -1.09 EPS for the current year.

Insider Activity at Roku

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 of the company’s stock, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,193,100.32. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 72,095 shares of company stock valued at $5,649,038 in the last 90 days. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Ameritas Advisory Services LLC bought a new stake in shares of Roku during the fourth quarter worth $311,000. Stonekeep Investments LLC bought a new stake in Roku during the 4th quarter worth about $261,000. O Keefe Stevens Advisory Inc. grew its holdings in Roku by 39.5% during the 4th quarter. O Keefe Stevens Advisory Inc. now owns 3,893 shares of the company’s stock worth $289,000 after acquiring an additional 1,102 shares during the last quarter. Avanza Fonder AB acquired a new stake in Roku in the 4th quarter valued at about $3,499,000. Finally, Oak Thistle LLC bought a new position in shares of Roku in the fourth quarter worth about $823,000. 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.