Roku (NASDAQ:ROKU) Trading Down 1.9% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price dropped 1.9% on Wednesday . The company traded as low as $90.23 and last traded at $92.13. Approximately 3,714,103 shares were traded during trading, an increase of 24% from the average daily volume of 2,999,248 shares. The stock had previously closed at $93.88.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on the company. Rosenblatt Securities increased their price objective on Roku from $101.00 to $106.00 and gave the company a “neutral” rating in a report on Friday, October 31st. Evercore ISI reissued a “positive” rating on shares of Roku in a research report on Friday, October 31st. Wall Street Zen upgraded shares of Roku from a “hold” rating to a “buy” rating in a report on Sunday, December 7th. UBS Group lifted their price objective on Roku from $95.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Finally, Susquehanna reissued a “positive” rating and set a $130.00 price objective on shares of Roku in a research report on Friday, October 31st. Twenty-two equities research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and an average price target of $119.29.

Roku Trading Down 1.9%

The firm has a market capitalization of $13.61 billion, a price-to-earnings ratio of -460.63 and a beta of 1.99. The stock has a fifty day moving average price of $105.27 and a 200-day moving average price of $99.13.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 75,000 shares of the firm’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $109.61, for a total transaction of $8,220,750.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Matthew C. Banks sold 729 shares of Roku stock in a transaction that occurred on Friday, January 2nd. The shares were sold at an average price of $109.04, for a total transaction of $79,490.16. Following the completion of the transaction, the chief accounting officer owned 5,825 shares of the company’s stock, valued at $635,158. This trade represents a 11.12% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 232,790 shares of company stock worth $24,685,299 in the last quarter. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. AQR Capital Management LLC raised its position in Roku by 275.5% in the 3rd quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock valued at $258,897,000 after purchasing an additional 1,897,407 shares during the last quarter. Tableaux LLC acquired a new stake in shares of Roku in the second quarter valued at $1,746,000. Holocene Advisors LP raised its holdings in shares of Roku by 352.3% in the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after buying an additional 1,285,585 shares during the last quarter. Acadian Asset Management LLC lifted its position in Roku by 41.2% during the 2nd quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock worth $236,545,000 after buying an additional 785,864 shares in the last quarter. Finally, Duquesne Family Office LLC lifted its position in Roku by 123.0% during the 2nd quarter. Duquesne Family Office LLC now owns 1,100,500 shares of the company’s stock worth $96,723,000 after buying an additional 606,900 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.