Roku (NASDAQ:ROKU) Trading Down 0.2% – Time to Sell?

Roku, Inc. (NASDAQ:ROKU)’s stock price was down 0.2% during mid-day trading on Monday . The company traded as low as $68.52 and last traded at $69.09. Approximately 695,984 shares traded hands during mid-day trading, a decline of 84% from the average daily volume of 4,406,974 shares. The stock had previously closed at $69.20.

Analyst Ratings Changes

Several equities analysts have weighed in on the company. Bank of America raised their target price on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 30th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a report on Tuesday, October 1st. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, August 23rd. JPMorgan Chase & Co. upped their price objective on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $84.14.

Roku Stock Performance

The firm has a 50 day moving average price of $74.16 and a two-hundred day moving average price of $65.25. The company has a market capitalization of $9.83 billion, a P/E ratio of -56.42 and a beta of 2.07.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business posted ($2.33) earnings per share. On average, equities analysts expect that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This trade represents a 4.20 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock worth $6,729,582 in the last quarter. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Large investors have recently modified their holdings of the stock. Swedbank AB acquired a new position in Roku during the 1st quarter worth $1,180,000. SG Americas Securities LLC lifted its stake in shares of Roku by 238.6% during the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after acquiring an additional 51,815 shares during the period. Kessler Investment Group LLC boosted its holdings in Roku by 21.8% in the third quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after acquiring an additional 13,590 shares during the last quarter. CANADA LIFE ASSURANCE Co increased its position in Roku by 127.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 49,912 shares of the company’s stock worth $3,255,000 after purchasing an additional 27,940 shares during the period. Finally, Cetera Investment Advisers raised its position in shares of Roku by 240.3% during the 1st quarter. Cetera Investment Advisers now owns 41,805 shares of the company’s stock valued at $2,724,000 after acquiring an additional 29,521 shares during the last quarter. 86.30% of the stock is currently 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.