Roku (NASDAQ:ROKU) Shares Down 0.2%

Roku, Inc. (NASDAQ:ROKU)’s stock price was down 0.2% during mid-day trading on Wednesday . The company traded as low as $61.25 and last traded at $61.59. Approximately 850,679 shares changed hands during trading, a decline of 85% from the average daily volume of 5,590,202 shares. The stock had previously closed at $61.74.

Analysts Set New Price Targets

A number of research analysts recently issued reports on ROKU shares. Rosenblatt Securities reiterated a “neutral” rating and set a $89.00 price objective on shares of Roku in a research note on Friday. Wedbush lowered their price target on Roku from $120.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday, April 19th. Citigroup lowered their price target on Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Friday. Finally, Benchmark decreased their price objective on Roku from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $84.57.

Roku Trading Down 3.2 %

The stock has a market cap of $8.72 billion, a P/E ratio of -12.51 and a beta of 1.66. The company has a 50-day moving average price of $63.11 and a two-hundred day moving average price of $78.59.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. Roku’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the company posted ($1.38) EPS. As a group, equities analysts forecast that Roku, Inc. will post -2.12 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, Director Jeffrey M. Blackburn acquired 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $511,680. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, Director Jeffrey M. Blackburn acquired 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $511,680. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the sale, the senior vice president now owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,545 shares of company stock valued at $4,364,035. 13.63% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. FMR LLC grew its holdings in Roku by 85.9% during the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock worth $666,465,000 after acquiring an additional 4,363,754 shares during the period. Sumitomo Mitsui Trust Holdings Inc. boosted its stake 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 during the last quarter. Norges Bank acquired a new position in shares of Roku in the 4th quarter valued at $90,386,000. Lord Abbett & CO. LLC acquired a new position in Roku during the 3rd quarter worth about $55,182,000. Finally, Wellington Management Group LLP lifted its stake in Roku by 34.6% during the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after acquiring an additional 653,940 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.