Roku (NASDAQ:ROKU) Stock Price Down 0.2%

Roku, Inc. (NASDAQ:ROKU) shares dropped 0.2% on Tuesday . The stock traded as low as $64.03 and last traded at $64.48. Approximately 787,405 shares traded hands during mid-day trading, a decline of 87% from the average daily volume of 6,296,687 shares. The stock had previously closed at $64.64.

Analysts Set New Price Targets

ROKU has been the topic of several analyst reports. Oppenheimer lowered shares of Roku from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Wednesday, February 21st. Wedbush reaffirmed an “outperform” rating and issued a $120.00 target price on shares of Roku in a report on Friday, February 16th. Wells Fargo & Company lowered shares of Roku from an “equal weight” rating to an “underweight” rating and decreased their price objective for the stock from $77.00 to $51.00 in a report on Tuesday, February 27th. Finally, Moffett Nathanson lowered shares of Roku from a “market perform” rating to a “sell” rating and increased their price objective for the stock from $64.00 to $66.00 in a report on Friday, December 15th. Five research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $86.00.

Roku Stock Performance

The firm has a market capitalization of $9.41 billion, a price-to-earnings ratio of -13.06 and a beta of 1.66. The business’s 50-day moving average is $75.66 and its two-hundred day moving average is $80.33.

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

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The shares were sold at an average price of $90.50, for a total transaction of $2,262,500.00. Following the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $12,780,500.50. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other news, SVP Stephen H. Kay sold 4,310 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 10th. The stock was sold at an average price of $90.50, for a total transaction of $2,262,500.00. Following the transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at $12,780,500.50. The disclosure for this sale can be found here. In the last three months, insiders have sold 79,543 shares of company stock worth $6,631,587. Company insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds have recently made changes to their positions in the business. MetLife Investment Management LLC bought a new position in shares of Roku in the first quarter valued at $955,000. Synovus Financial Corp grew its stake in shares of Roku by 45.2% in the first quarter. Synovus Financial Corp now owns 3,501 shares of the company’s stock valued at $448,000 after buying an additional 1,090 shares in the last quarter. Dimensional Fund Advisors LP grew its stake in shares of Roku by 2.3% in the first quarter. Dimensional Fund Advisors LP now owns 94,224 shares of the company’s stock valued at $11,806,000 after buying an additional 2,130 shares in the last quarter. Cetera Investment Advisers grew its stake in shares of Roku by 32.5% in the first quarter. Cetera Investment Advisers now owns 10,620 shares of the company’s stock valued at $1,330,000 after buying an additional 2,605 shares in the last quarter. Finally, Brighton Jones LLC grew its stake in shares of Roku by 8.6% in the first quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock valued at $235,000 after buying an additional 148 shares in the last quarter. 86.30% of the stock is owned by 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.