Roku (NASDAQ:ROKU) Shares Down 0.5%

Roku, Inc. (NASDAQ:ROKU) traded down 0.5% on Tuesday . The company traded as low as $61.45 and last traded at $61.65. 439,870 shares traded hands during mid-day trading, a decline of 91% from the average session volume of 4,667,950 shares. The stock had previously closed at $61.96.

Wall Street Analyst Weigh In

A number of equities research analysts have weighed in on the company. JPMorgan Chase & Co. reduced their price objective on Roku from $90.00 to $80.00 and set an “overweight” rating for the company in a research note on Friday, August 2nd. Susquehanna dropped their target price on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a report on Monday, April 29th. Macquarie dropped their target price on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Wedbush reissued an “outperform” rating and issued a $75.00 target price on shares of Roku in a report on Friday, August 2nd. Finally, Bank of America dropped their target price on Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and an average price target of $79.71.

Roku Price Performance

The company has a 50-day moving average price of $58.09 and a 200-day moving average price of $62.45. The firm has a market capitalization of $8.97 billion, a PE ratio of -15.45 and a beta of 1.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same period in the prior year, the business earned ($0.76) earnings per share. The business’s revenue was up 14.3% on a year-over-year basis. On average, research analysts predict that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the sale, the director now owns 3,259 shares in the company, valued at approximately $188,630.92. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the transaction, the senior vice president now owns 82,036 shares of the company’s stock, valued at approximately $4,683,435.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, Director Mai Fyfield sold 650 shares of the stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.88, for a total value of $37,622.00. Following the transaction, the director now directly owns 3,259 shares in the company, valued at approximately $188,630.92. The disclosure for this sale can be found here. Insiders sold a total of 27,075 shares of company stock worth $1,556,005 in the last 90 days. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

Hedge funds have recently made changes to their positions in the stock. GAMMA Investing LLC bought a new stake in shares of Roku in the 4th quarter worth approximately $27,000. Quarry LP lifted its holdings in shares of Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its holdings in shares of Roku by 1,822.6% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 596 shares of the company’s stock worth $55,000 after purchasing an additional 565 shares during the last quarter. Benjamin Edwards Inc. lifted its holdings in shares of Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares during the last quarter. Finally, ICA Group Wealth Management LLC bought a new stake in shares of Roku in the 4th quarter worth approximately $58,000. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.