Roku (NASDAQ:ROKU) Stock Price Down 6.1% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares traded down 6.1% during trading on Friday . The company traded as low as $53.24 and last traded at $56.59. 2,073,810 shares were traded during trading, a decline of 44% from the average session volume of 3,722,235 shares. The stock had previously closed at $60.26.

Analysts Set New Price Targets

Several brokerages have issued reports on ROKU. Benchmark lifted their target price on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Bank of America started coverage on Roku in a research note on Thursday, March 27th. They issued a “buy” rating and a $100.00 target price on the stock. Loop Capital upped their target price on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. UBS Group upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Finally, Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and upped their price target for the company from $55.00 to $100.00 in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and three have given a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $96.55.

Roku Stock Down 8.3 %

The firm has a market cap of $8.07 billion, a PE ratio of -62.11 and a beta of 2.17. The firm’s fifty day simple moving average is $80.17 and its two-hundred day simple moving average is $77.50.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 5,000 shares of the firm’s stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $100.40, for a total transaction of $502,000.00. Following the sale, the chief financial officer now directly owns 58,555 shares of the company’s stock, valued at $5,878,922. This trade represents a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,905 shares of company stock worth $8,632,306 over the last quarter. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several large investors have recently made changes to their positions in the company. Paloma Partners Management Co purchased a new position in Roku during the third quarter worth about $394,000. Investment Management Corp of Ontario purchased a new stake in shares of Roku during the 3rd quarter worth $318,000. Integrated Wealth Concepts LLC increased its holdings in Roku by 26.9% in the third quarter. Integrated Wealth Concepts LLC now owns 20,890 shares of the company’s stock valued at $1,560,000 after buying an additional 4,427 shares during the last quarter. IHT Wealth Management LLC raised its position in shares of Roku by 762.3% during the 3rd quarter. IHT Wealth Management LLC now owns 29,819 shares of the company’s stock worth $2,226,000 after acquiring an additional 26,361 shares in the last quarter. Finally, Polar Asset Management Partners Inc. purchased a new stake in shares of Roku during the 3rd quarter worth approximately $2,957,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.