Roku (NASDAQ:ROKU) Trading Down 1.7%

Roku, Inc. (NASDAQ:ROKU) dropped 1.7% during mid-day trading on Friday . The company traded as low as $58.77 and last traded at $58.94. Approximately 1,398,378 shares traded hands during trading, a decline of 76% from the average daily volume of 5,751,405 shares. The stock had previously closed at $59.95.

Analyst Ratings Changes

Several research analysts recently commented on the company. Morgan Stanley cut their price target on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Wells Fargo & Company raised their price target on shares of Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research report on Friday, April 26th. Oppenheimer cut shares of Roku from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Benchmark decreased their price objective on shares of Roku from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, April 26th. Finally, Wedbush reduced their price target on shares of Roku from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $82.50.

Roku Trading Down 1.4 %

The stock has a fifty day moving average price of $62.07 and a two-hundred day moving average price of $78.20.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The firm had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same quarter in the previous year, the business earned ($1.38) EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. On average, sell-side analysts forecast that Roku, Inc. will post -1.94 EPS for the current year.

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares in the company, valued at $13,930,039.44. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Jeffrey M. Blackburn bought 8,000 shares of the business’s stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, with a total value of $511,680.00. Following the completion of the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The disclosure for this purchase can be found here. Insiders sold 54,751 shares of company stock valued at $4,375,835 over the last 90 days. 13.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its position in shares of Roku by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after purchasing an additional 380,409 shares in the last quarter. FMR LLC lifted its stake in Roku by 85.9% during the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after purchasing an additional 4,363,754 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its holdings in Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after buying an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. grew its position in Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after buying an additional 1,455,408 shares during the last quarter. Finally, Wellington Management Group LLP increased its holdings in shares of Roku by 34.6% in the third quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock valued at $179,516,000 after buying an additional 653,940 shares in the last quarter. 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.