Roku (NASDAQ:ROKU) Stock Price Down 0.4% – Time to Sell?

Roku, Inc. (NASDAQ:ROKU) shares traded down 0.4% on Thursday . The company traded as low as $57.38 and last traded at $58.17. 579,245 shares traded hands during trading, a decline of 85% from the average session volume of 3,787,412 shares. The stock had previously closed at $58.40.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on ROKU shares. Bank of America assumed coverage on shares of Roku in a report on Thursday, March 27th. They issued a “buy” rating and a $100.00 price objective on the stock. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $86.00 price objective on shares of Roku in a research note on Thursday, February 13th. Citizens Jmp raised Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. FBN Securities initiated coverage on shares of Roku in a research report on Friday, March 28th. They set an “outperform” rating and a $93.00 price target on the stock. Finally, Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective for the company in a report on Tuesday, March 4th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $94.11.

Roku Stock Performance

The stock has a market capitalization of $8.53 billion, a price-to-earnings ratio of -65.60 and a beta of 2.17. The business has a 50-day moving average of $75.08 and a 200-day moving average of $76.24.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate 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 for the quarter, compared to the consensus estimate of $1.15 billion. On average, research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 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 transaction of $561,913.25. Following the sale, the insider now owns 7,380 shares of the company’s stock, valued at approximately $577,485. The trade was a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,905 shares of company stock valued at $6,560,876 over the last quarter. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several hedge funds have recently added to or reduced their stakes in the business. Geneos Wealth Management Inc. lifted its holdings in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Roku in the 4th quarter valued at approximately $30,000. Game Plan Financial Advisors LLC acquired a new stake in Roku during the 4th quarter valued at $37,000. Princeton Global Asset Management LLC acquired a new position in shares of Roku in the first quarter worth $35,000. Finally, Harvest Fund Management Co. Ltd boosted its stake in shares of Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after acquiring an additional 491 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other 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.