Roku (NASDAQ:ROKU) Shares Down 0.7%

Roku, Inc. (NASDAQ:ROKU) dropped 0.7% during trading on Thursday . The company traded as low as $58.04 and last traded at $58.69. Approximately 964,752 shares were traded during trading, a decline of 83% from the average daily volume of 5,783,581 shares. The stock had previously closed at $59.13.

Analyst Ratings Changes

ROKU has been the subject of several recent research reports. Citigroup reduced their price target on shares of Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday. Wedbush reduced their price objective on shares of Roku from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $89.00 target price on shares of Roku in a research report on Friday, April 26th. Morgan Stanley reduced their price target on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Finally, Susquehanna dropped their price objective on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $82.50.

Roku Trading Up 1.4 %

The company has a market cap of $8.60 billion, a PE ratio of -14.71 and a beta of 1.69. The firm’s 50-day simple moving average is $62.24 and its two-hundred day simple moving average is $78.31.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The business had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. During the same period in the previous year, the firm posted ($1.38) earnings per share. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. As a group, analysts predict that Roku, Inc. will post -1.98 EPS for the current year.

Insider Buying and Selling at Roku

In other news, SVP Stephen H. Kay sold 4,310 shares of the firm’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the transaction, the senior vice president now directly owns 81,459 shares in the company, valued at $5,148,208.80. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the sale, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Monday, February 12th. The stock was 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 directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 54,545 shares of company stock worth $4,364,035. 13.63% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently modified their holdings of ROKU. GAMMA Investing LLC purchased a new position in Roku during the fourth quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Roku during the 4th quarter worth approximately $29,000. Quarry LP increased its holdings in shares of Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares in the last quarter. Federated Hermes Inc. acquired a new position in shares of Roku in the 3rd quarter valued at $37,000. Finally, Headinvest LLC purchased a new stake in Roku during the third quarter worth $42,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

About Roku

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.