Roku (NASDAQ:ROKU) Trading Down 1.6%

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 1.6% on Thursday . The company traded as low as $57.11 and last traded at $57.29. 1,458,614 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 4,721,282 shares. The stock had previously closed at $58.21.

Analyst Ratings Changes

ROKU has been the subject of several recent research reports. Susquehanna dropped their price target on Roku from $110.00 to $80.00 and set a “positive” rating for the company in a research report on Monday, April 29th. Wells Fargo & Company boosted their target price on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. JPMorgan Chase & Co. lowered their price target on Roku from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday. Jefferies Financial Group initiated coverage on shares of Roku in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $50.00 target price on the stock. Finally, Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Roku in a research note on Friday. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $79.71.

Roku Price Performance

The stock’s 50-day moving average is $58.43 and its 200 day moving average is $65.28. The company has a market cap of $7.66 billion, a PE ratio of -13.32 and a beta of 1.96.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative return on equity of 21.17% and a negative net margin of 13.16%. The firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. During the same quarter last year, the firm earned ($0.76) EPS. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Roku, Inc. will post -1.94 EPS for the current year.

Insider Activity at Roku

In other Roku news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the transaction, the director now owns 3,259 shares in the company, valued at approximately $188,630.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $57.88, for a total value of $37,622.00. Following the sale, the director now owns 3,259 shares in the company, valued at $188,630.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the transaction, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders sold 27,075 shares of company stock valued at $1,556,005 in the last three months. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

Several institutional investors have recently modified their holdings of the stock. ARK Investment Management LLC increased its stake in Roku by 1.3% during the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after buying an additional 159,785 shares in the last quarter. Vanguard Group Inc. boosted its stake in Roku by 0.8% during the 1st 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 during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Roku by 24.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after buying an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares in the last quarter. Finally, Norges Bank acquired a new position in Roku during the fourth quarter worth about $90,386,000. Institutional investors and hedge funds 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.