Roku (NASDAQ:ROKU) Shares Down 0.9% – Time to Sell?

Roku, Inc. (NASDAQ:ROKU)’s stock price dropped 0.9% during mid-day trading on Friday . The stock traded as low as $83.00 and last traded at $83.04. Approximately 973,246 shares traded hands during trading, a decline of 66% from the average daily volume of 2,854,744 shares. The stock had previously closed at $83.78.

Analysts Set New Price Targets

ROKU has been the subject of several research analyst reports. Jefferies Financial Group cut their target price on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday, November 1st. Moffett Nathanson cut Roku from a “neutral” rating to a “sell” rating and set a $55.00 target price for the company. in a research report on Friday, January 10th. Loop Capital increased their target price on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Rosenblatt Securities raised their price target on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, UBS Group assumed coverage on Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target for the company. Three analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and an average target price of $83.18.

Roku Trading Down 1.7 %

The stock has a 50-day simple moving average of $76.87 and a two-hundred day simple moving average of $71.06. The firm has a market capitalization of $11.96 billion, a P/E ratio of -68.71 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Roku’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted ($2.33) EPS. As a group, research analysts expect that Roku, Inc. will post -1.09 EPS for the current year.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,555 shares of the company’s stock, valued at approximately $4,916,625. The trade was a 1.50 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the transaction, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,095 shares of company stock valued at $5,726,218 in the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. Tokio Marine Asset Management Co. Ltd. grew its stake in Roku by 22.2% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 5,655 shares of the company’s stock worth $420,000 after buying an additional 1,028 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in Roku by 56.0% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 130,985 shares of the company’s stock worth $9,737,000 after buying an additional 47,006 shares during the last quarter. SteelPeak Wealth LLC purchased a new position in Roku during the 4th quarter worth $258,000. PFG Investments LLC grew its stake in Roku by 4.9% during the 4th quarter. PFG Investments LLC now owns 4,361 shares of the company’s stock worth $324,000 after buying an additional 204 shares during the last quarter. Finally, Jacksonville Wealth Management LLC purchased a new position in Roku during the 4th quarter worth $346,000. 86.30% of the stock is currently 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.