Roku (NASDAQ:ROKU) Stock Price Down 2.1% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) were down 2.1% during trading on Thursday . The stock traded as low as $68.68 and last traded at $69.47. Approximately 570,899 shares traded hands during trading, a decline of 85% from the average daily volume of 3,719,191 shares. The stock had previously closed at $70.96.

Analyst Ratings Changes

A number of brokerages recently commented on ROKU. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $74.00 to $129.00 in a research report on Friday, February 14th. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Citigroup boosted their price target on shares of Roku from $70.00 to $103.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research note on Tuesday, March 4th. Finally, Wedbush reiterated an “outperform” rating and set a $100.00 price objective on shares of Roku in a report on Monday, February 10th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $96.71.

Roku Trading Down 3.7 %

The firm has a market cap of $9.97 billion, a PE ratio of -77.17 and a beta of 2.12. The business has a fifty day moving average of $82.05 and a 200-day moving average of $77.07.

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

Insider Activity

In related news, insider Charles Collier sold 7,181 shares of the firm’s 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 sale, the insider now directly owns 7,380 shares of the company’s stock, valued at $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the transaction, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,308 shares of company stock worth $8,296,166 in the last three months. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. FMR LLC increased its holdings in Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Marshall Wace LLP grew its position in shares of 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 buying an additional 2,030,036 shares during the last quarter. Holocene Advisors LP purchased a new position in shares of Roku during the third quarter valued at approximately $129,015,000. Cadian Capital Management LP purchased a new position in shares of Roku during the fourth quarter valued at approximately $87,632,000. Finally, Jacobs Levy Equity Management Inc. raised its holdings in shares of Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock valued at $96,402,000 after acquiring an additional 1,082,548 shares in the last quarter. 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.