Roku (NASDAQ:ROKU) Shares Down 0.1%

Roku, Inc. (NASDAQ:ROKU) traded down 0.1% during mid-day trading on Monday . The stock traded as low as $74.19 and last traded at $74.37. 393,296 shares changed hands during trading, a decline of 91% from the average session volume of 4,525,041 shares. The stock had previously closed at $74.41.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ROKU. Macquarie dropped their price target on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research report on Friday, August 2nd. Bank of America increased their price objective on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and raised their target price for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Citigroup raised their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Finally, Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research report on Thursday, September 12th. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $79.62.

Roku Price Performance

The company has a market capitalization of $10.80 billion, a price-to-earnings ratio of -18.59 and a beta of 2.06. The firm’s fifty day simple moving average is $64.43 and its 200 day simple moving average is $61.53.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period last year, the company posted ($0.76) EPS. Equities research analysts forecast that Roku, Inc. will post -1.44 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 46,945 shares of company stock valued at $3,465,135. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Mcdonald Partners LLC grew its stake in shares of Roku by 0.9% in the second quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after acquiring an additional 175 shares during the last quarter. Benjamin Edwards Inc. lifted its stake in shares of Roku by 43.5% in 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. Beacon Capital Management LLC grew its position in Roku by 17.7% during the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock worth $101,000 after buying an additional 233 shares in the last quarter. Arizona State Retirement System increased its stake in Roku by 0.7% during the second quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock valued at $2,077,000 after acquiring an additional 251 shares during the period. Finally, Quarry LP increased its stake 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 acquiring an additional 266 shares during the period. 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.