Roku (NASDAQ:ROKU) Shares Down 1.7%

Shares of Roku, Inc. (NASDAQ:ROKU) traded down 1.7% during trading on Tuesday . The stock traded as low as $57.47 and last traded at $57.96. 1,178,484 shares were traded during trading, a decline of 79% from the average session volume of 5,743,729 shares. The stock had previously closed at $58.94.

Analyst Ratings Changes

ROKU has been the subject of several research analyst reports. Wedbush reaffirmed an “outperform” rating and set a $120.00 target price on shares of Roku in a research report on Friday, February 16th. Pivotal Research dropped their price objective on Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Morgan Stanley decreased their target price on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Susquehanna raised their price target on Roku from $100.00 to $110.00 and gave the company a “positive” rating in a report on Friday, February 16th. Finally, Citigroup reduced their price objective on Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and a consensus target price of $86.67.

Roku Price Performance

The company’s 50-day simple moving average is $68.64 and its 200-day simple moving average is $79.31. The stock has a market capitalization of $8.35 billion, a price-to-earnings ratio of -11.55 and a beta of 1.66.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.10. The firm had revenue of $984.40 million for the quarter, compared to analysts’ expectations of $967.72 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The company’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.70) earnings per share. Research analysts expect that Roku, Inc. will post -2.16 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Charles Collier sold 4,182 shares of the firm’s stock in a transaction that occurred on Friday, March 8th. The shares were sold at an average price of $65.00, for a total value of $271,830.00. Following the completion of the transaction, the insider now directly owns 8,474 shares of the company’s stock, valued at approximately $550,810. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, insider Charles Collier sold 4,182 shares of Roku stock in a transaction on Friday, March 8th. The shares were sold at an average price of $65.00, for a total transaction of $271,830.00. Following the completion of the sale, the insider now directly owns 8,474 shares of the company’s stock, valued at approximately $550,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Jeffrey M. Blackburn acquired 8,000 shares of the firm’s stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $511,680. The disclosure for this purchase can be found here. In the last ninety days, insiders sold 54,545 shares of company stock valued at $4,364,035. Corporate insiders own 13.63% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. FMR LLC boosted its position in shares of Roku by 85.9% during the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock worth $666,465,000 after acquiring an additional 4,363,754 shares during the last quarter. Renaissance Technologies LLC boosted its position in Roku by 772.1% during the 1st quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company’s stock valued at $351,771,000 after acquiring an additional 2,486,100 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of Roku by 97.2% in the 1st quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock worth $522,878,000 after purchasing an additional 2,057,633 shares in the last quarter. Norges Bank acquired a new stake in shares of Roku in the 4th quarter worth $90,386,000. Finally, Lord Abbett & CO. LLC purchased a new position in Roku in the 3rd quarter worth $55,182,000. 86.30% of the stock is 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.