Roku (NASDAQ:ROKU) Shares Down 2.4% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares traded down 2.4% during trading on Wednesday . The company traded as low as $74.47 and last traded at $74.98. 887,504 shares changed hands during trading, a decline of 80% from the average session volume of 4,355,405 shares. The stock had previously closed at $76.79.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ROKU. Citigroup raised their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Roku in a research report on Tuesday. Guggenheim raised 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. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target for the company in a research note on Tuesday, October 1st. Finally, Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and boosted their price objective for the company from $50.00 to $72.00 in a research note on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat, Roku presently has a consensus rating of “Hold” and a consensus price target of $82.30.

Roku Trading Up 1.7 %

The firm has a market capitalization of $10.85 billion, a PE ratio of -18.95 and a beta of 2.08. The stock has a 50 day simple moving average of $72.04 and a 200 day simple moving average of $63.22.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.76) EPS. As a group, equities analysts anticipate that Roku, Inc. will post -1.44 earnings per share for the current year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,566 shares of company stock worth $5,254,000. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

Large investors have recently made changes to their positions in the stock. EverSource Wealth Advisors LLC increased its position in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC purchased a new position in shares of Roku during the 3rd quarter worth $43,000. Geneos Wealth Management Inc. grew its position in shares of Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 610 shares during the period. Cedar Wealth Management LLC purchased a new stake in shares of Roku in the 2nd quarter worth $48,000. Finally, Natixis bought a new position in Roku in the 1st quarter worth $53,000. 86.30% of the stock is currently owned by 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.