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

Shares of Roku, Inc. (NASDAQ:ROKU) were down 2.1% during trading on Friday . The stock traded as low as $74.29 and last traded at $74.42. Approximately 584,102 shares were traded during mid-day trading, a decline of 84% from the average daily volume of 3,673,171 shares. The stock had previously closed at $76.05.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on ROKU shares. Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and raised their target price for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and increased their price objective for the company from $74.00 to $129.00 in a report on Friday, February 14th. JMP Securities lifted their target price on Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. UBS Group raised their price target on Roku from $73.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Finally, Citigroup raised Roku from a “neutral” rating to an “outperform” rating in a research note on Sunday. One analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $96.55.

Roku Stock Down 4.0 %

The business has a 50 day moving average price of $81.16 and a 200 day moving average price of $77.54. The stock has a market cap of $10.66 billion, a P/E ratio of -81.99 and a beta of 2.12.

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

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the company’s stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares in the company, valued at $468,225. This represents a 42.42 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now directly owns 68,843 shares of the company’s stock, valued at $5,163,225. This represents a 1.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 97,908 shares of company stock valued at $8,633,436 in the last 90 days. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors have recently made changes to their positions in the company. Charles Schwab Investment Management Inc. increased its position in Roku by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock valued at $71,373,000 after purchasing an additional 30,038 shares during the period. Citigroup Inc. raised its stake in Roku by 73.0% in the third quarter. Citigroup Inc. now owns 101,529 shares of the company’s stock worth $7,580,000 after buying an additional 42,837 shares in the last quarter. Cerity Partners LLC lifted its holdings in Roku by 11.1% during the third quarter. Cerity Partners LLC now owns 26,534 shares of the company’s stock worth $1,981,000 after buying an additional 2,644 shares during the period. FMR LLC boosted its position in Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after acquiring an additional 244,793 shares in the last quarter. Finally, Brooklyn Investment Group purchased a new position in shares of Roku in the 3rd quarter valued at $95,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.