Roku (NASDAQ:ROKU) Stock Price Down 3% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) traded down 3% on Wednesday . The company traded as low as $78.61 and last traded at $79.28. 524,843 shares were traded during trading, a decline of 86% from the average session volume of 3,678,164 shares. The stock had previously closed at $81.73.

Analyst Ratings Changes

A number of analysts recently weighed in on ROKU shares. FBN Securities initiated coverage on shares of Roku in a research report on Friday. They issued an “outperform” rating and a $93.00 price target on the stock. Wells Fargo & Company upgraded Roku from an “equal weight” rating to an “overweight” rating and boosted their price objective for the stock from $74.00 to $129.00 in a report on Friday, February 14th. Wedbush restated an “outperform” rating and issued a $100.00 price target on shares of Roku in a research report on Monday, February 10th. Needham & Company LLC restated a “buy” rating and issued a $120.00 target price on shares of Roku in a research report on Monday. Finally, Pivotal Research raised Roku from a “hold” rating to a “buy” rating and increased their price target for the company from $65.00 to $125.00 in a research note on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $96.55.

Roku Stock Down 4.7 %

The stock has a market cap of $10.58 billion, a price-to-earnings ratio of -81.45 and a beta of 2.12. The company’s fifty day moving average is $81.16 and its two-hundred day moving average is $77.54.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Sell-side analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the transaction, the chief financial officer now owns 63,555 shares in the company, valued at $4,905,174.90. The trade was a 1.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Charles Collier sold 7,181 shares of Roku stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the completion of the transaction, the insider now owns 7,380 shares in the company, valued at $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 97,908 shares of company stock worth $8,633,436. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently bought and sold shares of ROKU. FMR LLC increased its holdings in shares of Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares during the last quarter. Marshall Wace LLP lifted its stake in Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock worth $173,644,000 after acquiring an additional 2,030,036 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Roku during the 3rd quarter valued at $129,015,000. Cadian Capital Management LP bought a new stake in shares of Roku during the 4th quarter worth about $87,632,000. Finally, Jacobs Levy Equity Management Inc. lifted its position in shares of Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock worth $96,402,000 after purchasing an additional 1,082,548 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.