Roku (NASDAQ:ROKU) Trading Down 2.2%

Roku, Inc. (NASDAQ:ROKU) shares were down 2.2% during mid-day trading on Wednesday . The stock traded as low as $74.65 and last traded at $74.70. Approximately 473,265 shares were traded during mid-day trading, a decline of 90% from the average daily volume of 4,546,528 shares. The stock had previously closed at $76.36.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on ROKU shares. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Friday, September 13th. Macquarie reduced their target price on shares of Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and upped their target price for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Thursday, September 12th. Finally, JPMorgan Chase & Co. increased their target price on shares of Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research report on Wednesday, September 18th. Three equities 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. Based on data from MarketBeat.com, Roku currently has an average rating of “Hold” and an average target price of $79.10.

Roku Stock Performance

The company has a market cap of $10.69 billion, a P/E ratio of -18.52 and a beta of 2.06. The firm’s fifty day moving average is $63.79 and its two-hundred day moving average is $61.30.

Roku (NASDAQ:ROKU) last announced its earnings results 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 analysts’ expectations of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.76) EPS. On average, equities research analysts expect that Roku, Inc. will post -1.44 EPS for the current year.

Insiders Place Their Bets

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred 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 of the company’s stock, 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. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors have recently modified their holdings of the business. Swedbank AB acquired a new position in Roku during the first quarter worth about $1,180,000. SG Americas Securities LLC boosted its holdings in shares of Roku by 238.6% in 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. Mitsubishi UFJ Asset Management Co. Ltd. raised its holdings in shares of Roku by 23.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after purchasing an additional 11,851 shares during the period. Garde Capital Inc. purchased a new stake in Roku during the fourth quarter worth approximately $105,000. Finally, Vanguard Group Inc. increased its holdings in Roku by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.