Roku (NASDAQ:ROKU) Trading Down 1.2% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares traded down 1.2% on Friday . The company traded as low as $104.00 and last traded at $105.89. 2,332,128 shares traded hands during trading, a decline of 22% from the average session volume of 2,976,121 shares. The stock had previously closed at $107.23.

Analyst Ratings Changes

ROKU has been the subject of several recent research reports. Wedbush increased their price target on shares of Roku from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. Pivotal Research increased their price target on shares of Roku from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Monday, November 3rd. Bank of America lifted their price objective on Roku from $115.00 to $140.00 and gave the stock a “buy” rating in a research report on Monday, January 12th. KeyCorp reiterated an “overweight” rating and set a $116.00 target price on shares of Roku in a research report on Tuesday, October 28th. Finally, Benchmark reiterated a “buy” rating on shares of Roku in a research report on Monday, October 27th. Twenty-two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $118.79.

Roku Trading Down 1.2%

The company has a 50 day simple moving average of $104.34 and a 200-day simple moving average of $98.41. The stock has a market cap of $15.65 billion, a price-to-earnings ratio of -529.42 and a beta of 1.95.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, October 30th. The company reported $0.16 earnings per share for the quarter, topping the consensus estimate of $0.07 by $0.09. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The company had revenue of $1.21 billion during the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the prior year, the firm earned ($0.06) earnings per share. Roku’s revenue for the quarter was up 14.0% compared to the same quarter last year. Equities analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 3,000 shares of Roku stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $99.09, for a total value of $297,270.00. Following the sale, the chief financial officer directly owned 77,420 shares in the company, valued at $7,671,547.80. This trade represents a 3.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 118,088 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $115.00, for a total transaction of $13,580,120.00. Following the transaction, the insider owned 200 shares of the company’s stock, valued at $23,000. The trade was a 99.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 389,882 shares of company stock valued at $42,251,621 over the last quarter. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Apollon Wealth Management LLC boosted its position in Roku by 1.5% during the fourth quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock valued at $700,000 after purchasing an additional 96 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of Roku by 9.5% during the 3rd quarter. GAMMA Investing LLC now owns 1,114 shares of the company’s stock worth $112,000 after purchasing an additional 97 shares in the last quarter. Cornerstone Wealth Management LLC raised its stake in shares of Roku by 3.8% during the 3rd quarter. Cornerstone Wealth Management LLC now owns 2,728 shares of the company’s stock worth $273,000 after purchasing an additional 100 shares in the last quarter. Thoroughbred Financial Services LLC boosted its holdings in shares of Roku by 1.0% in the 3rd quarter. Thoroughbred Financial Services LLC now owns 9,945 shares of the company’s stock valued at $995,000 after buying an additional 100 shares during the last quarter. Finally, Aviance Capital Partners LLC grew its stake in shares of Roku by 2.6% in the third quarter. Aviance Capital Partners LLC now owns 4,172 shares of the company’s stock valued at $418,000 after buying an additional 106 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.