Roku (NASDAQ:ROKU) Stock Price Down 0.1% – What’s Next?

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 0.1% during mid-day trading on Thursday . The company traded as low as $77.55 and last traded at $78.39. 631,601 shares changed hands during trading, a decline of 86% from the average session volume of 4,365,909 shares. The stock had previously closed at $78.49.

Analysts Set New Price Targets

A number of brokerages have commented on ROKU. Macquarie reissued an “outperform” rating and issued a $90.00 price objective on shares of Roku in a research note on Thursday, October 31st. Rosenblatt Securities upped their price objective on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. UBS Group started coverage on Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 target price on the stock. Wells Fargo & Company lifted their price objective on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.81.

Roku Trading Down 0.3 %

The firm’s fifty day simple moving average is $75.26 and its two-hundred day simple moving average is $67.48. The company has a market capitalization of $11.36 billion, a price-to-earnings ratio of -65.19 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. The company 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%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.33) earnings per share. As a group, analysts forecast that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the sale, the chief financial officer now directly owns 64,555 shares of the company’s stock, valued at $5,340,635.15. This represents a 1.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at $387,544. This represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,096 shares of company stock worth $5,661,223 over the last ninety days. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently modified their holdings of ROKU. Holocene Advisors LP purchased a new stake in shares of Roku during the 3rd quarter worth approximately $129,015,000. Westfield Capital Management Co. LP raised its stake in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after acquiring an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. lifted its position in Roku by 352.5% in the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after acquiring an additional 507,643 shares during the last quarter. JAT Capital Mgmt LP boosted its stake in Roku by 470.2% in the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after acquiring an additional 445,777 shares in the last quarter. Finally, FMR LLC grew its holdings in shares of Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. Institutional investors and hedge funds 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.