Roku (NASDAQ:ROKU) Shares Down 0.2% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) fell 0.2% during mid-day trading on Thursday . The company traded as low as $78.59 and last traded at $79.44. 449,703 shares were traded during trading, a decline of 84% from the average session volume of 2,790,315 shares. The stock had previously closed at $79.60.

Analyst Ratings Changes

Several equities research analysts recently weighed in on the stock. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Rosenblatt Securities increased their price target on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Macquarie reissued an “outperform” rating and issued a $90.00 price target on shares of Roku in a research report on Thursday, October 31st. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Roku in a report on Wednesday, January 8th. Finally, Bank of America raised their price objective on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $83.18.

Roku Trading Up 2.3 %

The stock’s 50-day moving average price is $76.87 and its 200-day moving average price is $71.06. The company has a market cap of $11.83 billion, a P/E ratio of -67.80 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned ($2.33) EPS. On average, research analysts anticipate that Roku, Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,116,936.26. This represents a 48.51 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the transaction, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 73,095 shares of company stock worth $5,726,218 in the last three months. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds have recently bought and sold shares of ROKU. Holocene Advisors LP bought a new position in shares of Roku in the third quarter worth about $129,015,000. Kessler Investment Group LLC grew its holdings in Roku by 21.8% during the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after buying an additional 13,590 shares in the last quarter. National Bank of Canada FI grew its holdings in Roku by 11,626.3% during the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after buying an additional 149,514 shares in the last quarter. EULAV Asset Management grew its holdings in shares of Roku by 59.1% in the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after purchasing an additional 68,000 shares in the last quarter. Finally, Granite Bay Wealth Management LLC purchased a new position in shares of Roku in the second quarter valued at $1,142,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.