Roku (NASDAQ:ROKU) Stock Price Down 1.6% After Analyst Downgrade

Roku, Inc. (NASDAQ:ROKU) shares were down 1.6% during trading on Wednesday after UBS Group lowered their price target on the stock from $90.00 to $72.00. UBS Group currently has a neutral rating on the stock. Roku traded as low as $57.25 and last traded at $58.42. Approximately 592,384 shares were traded during trading, a decline of 84% from the average daily volume of 3,791,122 shares. The stock had previously closed at $59.39.

Several other equities analysts have also weighed in on the company. Benchmark raised their target price on Roku from $100.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 14th. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and raised their price objective for the company from $74.00 to $129.00 in a research note on Friday, February 14th. Wedbush reaffirmed an “outperform” rating and set a $100.00 target price on shares of Roku in a research report on Monday, February 10th. Redburn Atlantic upgraded Roku from a “neutral” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Monday, April 7th. Finally, FBN Securities started coverage on shares of Roku in a research note on Friday, March 28th. They issued an “outperform” rating and a $93.00 price objective for the company. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and an average target price of $94.54.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,333,486.34. The trade was a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dan Jedda sold 5,000 shares of the stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the transaction, the chief financial officer now directly owns 58,555 shares of the company’s stock, valued at approximately $5,878,922. The trade was a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,905 shares of company stock valued at $6,560,876 in the last 90 days. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently made changes to their positions in ROKU. Farther Finance Advisors LLC increased its position in shares of Roku by 23.9% during the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after purchasing an additional 121 shares in the last quarter. United Advisor Group LLC increased its holdings in shares of Roku by 0.9% during the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock worth $1,073,000 after buying an additional 130 shares in the last quarter. Cerity Partners LLC increased its holdings in shares of Roku by 0.5% during the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock worth $1,984,000 after buying an additional 145 shares in the last quarter. Richard W. Paul & Associates LLC raised its stake in shares of Roku by 1.1% in the fourth quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock valued at $1,189,000 after acquiring an additional 177 shares during the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Roku by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,859 shares of the company’s stock worth $287,000 after acquiring an additional 191 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Performance

The stock has a 50-day moving average of $75.08 and a 200 day moving average of $76.24. The firm has a market capitalization of $8.52 billion, a P/E ratio of -65.62 and a beta of 2.17.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

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.