Roku (NASDAQ:ROKU) Trading Down 2.2%

Roku, Inc. (NASDAQ:ROKU)’s share price was 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 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

A number of equities analysts have weighed in on the stock. Bank of America decreased their price objective on shares of Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Citigroup increased their price target on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday. Rosenblatt Securities lowered their price objective on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Friday, September 13th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $79.10.

Roku Price Performance

The stock has a market capitalization of $10.73 billion, a price-to-earnings ratio of -18.81 and a beta of 2.06. The company has a 50-day simple moving average of $64.19 and a two-hundred day simple moving average of $61.48.

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

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’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 sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 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 transaction of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the sale, the insider now owns 12,064 shares of the company’s stock, valued at approximately $784,160. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,945 shares of company stock worth $3,465,135. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Centaurus Financial Inc. increased its holdings in shares of Roku by 8.7% in the second quarter. Centaurus Financial Inc. now owns 5,020 shares of the company’s stock valued at $301,000 after buying an additional 400 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in shares of Roku during the second quarter worth $1,378,000. Granite Bay Wealth Management LLC acquired a new position in shares of Roku in the 2nd quarter valued at $1,142,000. Quarry LP increased its stake in Roku by 127.9% in the 2nd quarter. Quarry LP now owns 1,682 shares of the company’s stock worth $101,000 after purchasing an additional 944 shares in the last quarter. Finally, Algert Global LLC raised its holdings in Roku by 144.4% during the 2nd quarter. Algert Global LLC now owns 55,177 shares of the company’s stock worth $3,307,000 after buying an additional 32,603 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.