Roku (NASDAQ:ROKU) Trading Down 8.3% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) traded down 8.3% during trading on Monday . The company traded as low as $68.99 and last traded at $70.27. 1,488,528 shares were traded during mid-day trading, a decline of 60% from the average session volume of 3,705,013 shares. The stock had previously closed at $76.67.

Analyst Ratings Changes

A number of research firms recently commented on ROKU. Wedbush reaffirmed an “outperform” rating and issued a $100.00 price target on shares of Roku in a research note on Monday, February 10th. Citigroup lifted their price objective on shares of Roku from $70.00 to $103.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. JPMorgan Chase & Co. upped their target price on Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $74.00 to $129.00 in a report on Friday, February 14th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.71.

Roku Trading Down 2.1 %

The stock has a market cap of $10.16 billion, a P/E ratio of -78.25 and a beta of 2.12. The business has a 50-day simple moving average of $82.12 and a 200 day simple moving average of $77.12.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, equities analysts expect that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total transaction of $561,913.25. Following the completion of the sale, the insider now owns 7,380 shares of the company’s stock, valued at $577,485. This trade represents a 49.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total transaction of $77,180.00. Following the transaction, the chief financial officer now owns 63,555 shares in the company, valued at $4,905,174.90. The trade was a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 93,308 shares of company stock valued at $8,296,166 over the last quarter. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC boosted its position in shares of Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. boosted its holdings in Roku by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock worth $910,597,000 after acquiring an additional 185,676 shares in the last quarter. Marshall Wace LLP boosted its holdings in Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after acquiring an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock valued at $168,734,000 after acquiring an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock valued at $159,353,000 after acquiring an additional 56,820 shares in the last quarter. 86.30% of the stock is owned by 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.