Roku (NASDAQ:ROKU) Shares Down 3.3%

Roku, Inc. (NASDAQ:ROKU) shares traded down 3.3% on Wednesday . The stock traded as low as $60.90 and last traded at $61.02. 1,152,550 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 4,874,235 shares. The stock had previously closed at $63.11.

Analysts Set New Price Targets

Several research analysts recently commented on the stock. Jefferies Financial Group assumed coverage on shares of Roku in a research note on Thursday, May 2nd. They issued an “underperform” rating and a $50.00 price target on the stock. Citigroup reduced their price target on shares of Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Seaport Res Ptn raised shares of Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Morgan Stanley reduced their price target on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $89.00 price target on shares of Roku in a research note on Friday, April 26th. Four 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, the company has an average rating of “Hold” and a consensus target price of $82.50.

Roku Stock Performance

The firm has a market capitalization of $8.82 billion, a price-to-earnings ratio of -15.29 and a beta of 1.96. The firm’s 50 day simple moving average is $58.28 and its 200 day simple moving average is $68.77.

Roku (NASDAQ:ROKU) last posted 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. The firm had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The business’s quarterly revenue was up 19.0% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.38) EPS. As a group, sell-side analysts forecast that Roku, Inc. will post -1.94 earnings per share for the current year.

Insider Activity

In related news, Director Mai Fyfield sold 650 shares of the business’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the completion of the sale, the director now owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the sale, the director now owns 3,259 shares of the company’s stock, valued at $188,630.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the sale, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at approximately $4,683,435.24. The disclosure for this sale can be found here. Insiders sold a total of 23,691 shares of company stock valued at $1,334,455 in the last three months. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the company. Harbour Investments Inc. boosted its position in shares of Roku by 3.3% during the 3rd quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock valued at $247,000 after acquiring an additional 113 shares during the last quarter. Avantax Advisory Services Inc. lifted its position in Roku by 0.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after buying an additional 117 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Roku by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after buying an additional 150 shares during the last quarter. Benjamin Edwards Inc. lifted its position in Roku by 43.5% in the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after buying an additional 187 shares during the last quarter. Finally, Amalgamated Bank lifted its position in Roku by 1.0% in the fourth quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock valued at $1,817,000 after buying an additional 191 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.