Roku (NASDAQ:ROKU) Stock Price Down 1.5%

Roku, Inc. (NASDAQ:ROKU)’s stock price dropped 1.5% during trading on Monday . The stock traded as low as $74.82 and last traded at $74.85. Approximately 461,708 shares changed hands during trading, a decline of 90% from the average daily volume of 4,564,392 shares. The stock had previously closed at $76.02.

Analyst Ratings Changes

Several equities analysts have issued reports on the company. Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and lifted their price target for the company from $50.00 to $72.00 in a research note on Thursday, September 5th. Bank of America decreased their target price on shares of Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, August 23rd. Finally, Rosenblatt Securities dropped their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $78.75.

Roku Stock Performance

The company’s fifty day simple moving average is $63.33 and its two-hundred day simple moving average is $61.14. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of -18.76 and a beta of 2.06.

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

Insiders Place Their Bets

In other news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,945 shares of company stock worth $3,465,135. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently modified their holdings of the company. Sumitomo Mitsui Trust Holdings Inc. raised its stake in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after buying an additional 1,455,408 shares during the period. Norges Bank bought a new stake in shares of Roku in the 4th quarter worth about $90,386,000. Quadrature Capital Ltd bought a new stake in shares of Roku in the 4th quarter worth about $35,856,000. Finally, Vanguard Group Inc. grew its holdings in shares of Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after purchasing an additional 380,409 shares during the last quarter. 86.30% of the stock is currently 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.