Roku (NASDAQ:ROKU) Stock Price Down 1.5% – Time to Sell?

Roku, Inc. (NASDAQ:ROKU)’s share price was down 1.5% during mid-day trading on Tuesday . The company traded as low as $81.63 and last traded at $82.23. Approximately 620,950 shares were traded during mid-day trading, a decline of 86% from the average daily volume of 4,378,192 shares. The stock had previously closed at $83.44.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on the company. Jefferies Financial Group cut their target price on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Friday, November 1st. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Benchmark restated a “buy” rating and set a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their price target on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.81.

Roku Trading Up 0.1 %

The stock has a market cap of $12.12 billion, a P/E ratio of -69.74 and a beta of 2.06. The stock has a 50 day simple moving average of $75.14 and a 200 day simple moving average of $67.22.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter last year, the firm earned ($2.33) earnings per share. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. Equities analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The shares were sold at an average price of $77.20, for a total value of $1,930,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $387,544. This trade represents a 83.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. This trade represents a 1.84 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,096 shares of company stock valued at $5,578,493 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently modified their holdings of ROKU. Raelipskie Partnership bought a new stake in shares of Roku during the 3rd quarter worth $32,000. EverSource Wealth Advisors LLC boosted its stake in Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC bought a new position in shares of Roku during the 3rd quarter valued at approximately $43,000. GS Investments Inc. increased its stake in shares of Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC purchased a new position in Roku in the second quarter valued at approximately $48,000. Institutional investors own 86.30% of the company’s stock.

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.