Roku (NASDAQ:ROKU) Stock Price Down 1% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) dropped 1% during trading on Friday . The stock traded as low as $70.77 and last traded at $71.31. Approximately 638,677 shares changed hands during trading, a decline of 86% from the average daily volume of 4,425,522 shares. The stock had previously closed at $72.03.

Analyst Ratings Changes

ROKU has been the topic of a number of research reports. Robert W. Baird upped their target price on Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Rosenblatt Securities raised their price objective on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Benchmark reissued a “buy” rating and set a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Wedbush raised their price target on shares of Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Finally, Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $83.95.

Roku Price Performance

The stock has a market capitalization of $10.72 billion, a P/E ratio of -61.52 and a beta of 2.07. The company has a 50 day simple moving average of $73.47 and a 200-day simple moving average of $64.18.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations 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 quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the business posted ($2.33) EPS. As a group, equities analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Activity at Roku

In other Roku news, insider Charles Collier sold 15,454 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now owns 200 shares in the company, valued at $15,000. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, insider Charles Collier sold 15,454 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now directly owns 200 shares in the company, valued at approximately $15,000. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,776 shares of company stock worth $5,267,305. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Swedbank AB purchased a new position in shares of Roku during the 1st quarter valued at $1,180,000. SG Americas Securities LLC increased its stake in Roku by 238.6% in the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after acquiring an additional 51,815 shares during the last quarter. Kessler Investment Group LLC raised its holdings in shares of Roku by 21.8% in the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after acquiring an additional 13,590 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Roku by 23.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after acquiring an additional 11,851 shares during the last quarter. Finally, Vanguard Group Inc. grew its holdings in shares of Roku by 0.8% during the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after purchasing an additional 92,658 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.