Roku (NASDAQ:ROKU) Stock Price Down 2.5%

Shares of Roku, Inc. (NASDAQ:ROKU) traded down 2.5% on Friday . The stock traded as low as $66.45 and last traded at $66.73. 1,100,630 shares were traded during trading, a decline of 76% from the average session volume of 4,629,669 shares. The stock had previously closed at $68.44.

Wall Street Analyst Weigh In

Several research firms have commented on ROKU. Wedbush restated an “outperform” rating and issued a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. JPMorgan Chase & Co. cut their price objective on shares of Roku from $90.00 to $80.00 and set an “overweight” rating on the stock in a research report on Friday, August 2nd. Rosenblatt Securities decreased their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $105.00 price target on shares of Roku in a research note on Friday, August 2nd. Finally, Macquarie reduced their price objective on shares of Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus target price of $79.50.

Roku Price Performance

The stock has a market capitalization of $9.77 billion, a price-to-earnings ratio of -16.98 and a beta of 1.96. The company’s 50-day simple moving average is $60.24 and its 200-day simple moving average is $60.98.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same period in the prior year, the firm posted ($0.76) EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. Research analysts expect that Roku, Inc. will post -1.45 earnings per share for the current year.

Insider Buying and Selling at Roku

In other news, SVP Stephen H. Kay sold 12,124 shares of Roku stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares in the company, valued at $5,108,998.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. In other Roku news, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. Insiders sold 27,075 shares of company stock valued at $1,556,005 in the last quarter. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ROKU. Swedbank AB bought a new position in shares of Roku in the 1st quarter valued at $1,180,000. Vanguard Personalized Indexing Management LLC raised its stake in Roku by 8.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock worth $1,043,000 after acquiring an additional 914 shares in the last quarter. SG Americas Securities LLC grew its holdings in shares of Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after purchasing an additional 51,815 shares during the last quarter. Norges Bank acquired a new position in Roku during the 4th quarter worth approximately $90,386,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in Roku by 23.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after purchasing an additional 11,851 shares during the last quarter. 86.30% of the stock is owned by 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.