Roku (NASDAQ:ROKU) Stock Price Down 2.5% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares dropped 2.5% during mid-day trading on Monday . The company traded as low as $79.18 and last traded at $80.72. Approximately 907,519 shares changed hands during trading, a decline of 66% from the average daily volume of 2,669,800 shares. The stock had previously closed at $82.76.

Wall Street Analyst Weigh In

ROKU has been the topic of a number of analyst reports. Baird R W raised shares of Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Macquarie reiterated an “outperform” rating and set a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Loop Capital lifted their target price on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Wells Fargo & Company lifted their target price on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, JPMorgan Chase & Co. lifted their target price on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research note on Thursday, October 10th. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $83.18.

Roku Price Performance

The company has a market cap of $11.49 billion, a PE ratio of -65.92 and a beta of 2.05. The company has a fifty day moving average price of $78.48 and a 200 day moving average price of $72.12.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred 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 sale, the chief financial officer now owns 65,555 shares of the company’s stock, valued at $4,916,625. This represents a 1.50 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the sale, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,885 shares of company stock valued at $5,712,912 over the last quarter. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Geneos Wealth Management Inc. lifted its position in Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. Raelipskie Partnership bought a new stake in Roku in the third quarter valued at approximately $32,000. Game Plan Financial Advisors LLC bought a new stake in Roku in the fourth quarter valued at approximately $37,000. Future Financial Wealth Managment LLC bought a new position in shares of Roku during the third quarter valued at approximately $43,000. Finally, GS Investments Inc. raised its holdings in shares of Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares in the last quarter. 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.