Roku (NASDAQ:ROKU) Trading Down 1%

Roku, Inc. (NASDAQ:ROKU) shares dropped 1% during trading on Tuesday . The company traded as low as $61.22 and last traded at $61.84. Approximately 682,375 shares were traded during trading, a decline of 86% from the average daily volume of 4,954,636 shares. The stock had previously closed at $62.47.

Analysts Set New Price Targets

ROKU has been the subject of a number of recent research reports. Citigroup lowered their price objective on Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Morgan Stanley lowered their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Seaport Res Ptn upgraded Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Susquehanna lowered their price objective on Roku from $110.00 to $80.00 and set a “positive” rating for the company in a research note on Monday, April 29th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $89.00 price objective on shares of Roku in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $82.50.

Roku Price Performance

The firm has a market cap of $8.98 billion, a price-to-earnings ratio of -15.61 and a beta of 1.96. The company has a fifty day moving average price of $58.02 and a two-hundred day moving average price of $69.77.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. During the same quarter in the prior year, the firm posted ($1.38) earnings per share. The company’s revenue was up 19.0% on a year-over-year basis. On average, research analysts expect that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Activity

In other news, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction 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 completion of the sale, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total transaction of $409,532.43. Following the transaction, the insider now directly owns 15,654 shares of the company’s stock, valued at $892,747.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the transaction, the senior vice president now directly owns 82,036 shares in the company, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders sold a total of 23,691 shares of company stock valued at $1,334,455 over the last three months. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ROKU. GAMMA Investing LLC acquired a new position in Roku during the fourth quarter valued at $27,000. Creative Financial Designs Inc. ADV acquired a new position in Roku during the fourth quarter valued at $29,000. Federated Hermes Inc. acquired a new position in Roku during the third quarter valued at $37,000. Quarry LP raised its position in Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after buying an additional 266 shares during the period. Finally, Benjamin Edwards Inc. raised its position in Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after buying an additional 187 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

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.