Roku (NASDAQ:ROKU) Stock Price Down 0.9% – Here’s Why

Roku, Inc. (NASDAQ:ROKU) was down 0.9% during trading on Thursday . The company traded as low as $91.02 and last traded at $91.59. Approximately 1,001,351 shares were traded during mid-day trading, a decline of 73% from the average daily volume of 3,696,046 shares. The stock had previously closed at $92.41.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of research reports. Loop Capital upped their target price on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a report on Monday, December 9th. Bank of America increased their price objective on Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a report on Tuesday, January 7th. Finally, Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and lifted their price objective for the company from $65.00 to $125.00 in a research report on Friday, February 14th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $94.76.

Roku Stock Performance

The business has a fifty day simple moving average of $81.34 and a 200 day simple moving average of $74.61. The stock has a market cap of $13.20 billion, a price-to-earnings ratio of -102.39 and a beta of 2.05.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.39% and a negative net margin of 3.15%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, equities research analysts anticipate that Roku, Inc. will post -0.34 EPS for the current fiscal year.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,193,100.32. This trade represents a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dan Jedda sold 2,000 shares of the company’s stock in a transaction on Tuesday, February 18th. The shares were sold at an average price of $99.95, for a total value of $199,900.00. Following the completion of the transaction, the chief financial officer now owns 56,555 shares of the company’s stock, valued at $5,652,672.25. The trade was a 3.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,421 shares of company stock worth $9,660,786 over the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

Several hedge funds have recently modified their holdings of ROKU. Geneos Wealth Management Inc. raised its stake in Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the period. Vision Financial Markets LLC purchased a new position in shares of Roku in the 4th quarter worth $30,000. Raelipskie Partnership purchased a new position in shares of Roku in the 3rd quarter worth $32,000. Game Plan Financial Advisors LLC acquired a new position in Roku in the fourth quarter valued at $37,000. Finally, Harvest Fund Management Co. Ltd grew its position in Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after acquiring an additional 491 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

About Roku

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.