Roku (NASDAQ:ROKU) Shares Down 6.7%

Shares of Roku, Inc. (NASDAQ:ROKU) traded down 6.7% on Wednesday . The company traded as low as $55.80 and last traded at $57.95. 3,358,433 shares traded hands during mid-day trading, a decline of 30% from the average session volume of 4,776,653 shares. The stock had previously closed at $62.09.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Thursday, June 20th. Citigroup cut their target price on shares of Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Seaport Res Ptn raised shares of Roku from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Wells Fargo & Company raised their target price on shares of Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Finally, Wedbush restated an “outperform” rating and issued a $75.00 price target on shares of Roku in a research report on Thursday, June 27th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, Roku has a consensus rating of “Hold” and a consensus target price of $82.50.

Roku Stock Down 10.5 %

The stock has a market capitalization of $8.01 billion, a PE ratio of -14.52 and a beta of 1.96. The stock’s 50 day moving average price is $58.80 and its 200-day moving average price is $66.75.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The company had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. During the same period in the prior year, the firm earned ($1.38) earnings per share. The firm’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, sell-side analysts predict that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stephen H. Kay sold 3,322 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the sale, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders sold a total of 27,281 shares of company stock valued at $1,567,805 over the last three months. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Several hedge funds have recently modified their holdings of the company. Richard W. Paul & Associates LLC lifted its position in shares of Roku by 16.0% during the second quarter. Richard W. Paul & Associates LLC now owns 12,425 shares of the company’s stock valued at $745,000 after buying an additional 1,718 shares during the last quarter. Lecap Asset Management Ltd. acquired a new position in shares of Roku during the second quarter valued at about $517,000. First Horizon Advisors Inc. increased its holdings in shares of Roku by 14.4% during the second quarter. First Horizon Advisors Inc. now owns 3,531 shares of the company’s stock valued at $212,000 after acquiring an additional 445 shares in the last quarter. Blue Trust Inc. increased its holdings in shares of Roku by 3,310.5% during the second quarter. Blue Trust Inc. now owns 2,592 shares of the company’s stock valued at $169,000 after acquiring an additional 2,516 shares in the last quarter. Finally, Assenagon Asset Management S.A. increased its holdings in shares of Roku by 36.0% during the second quarter. Assenagon Asset Management S.A. now owns 147,691 shares of the company’s stock valued at $8,851,000 after acquiring an additional 39,111 shares in the last quarter. 86.30% of the stock is 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.