Roku (NASDAQ:ROKU) Trading Down 0.4% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price was down 0.4% during trading on Tuesday . The company traded as low as $78.01 and last traded at $79.58. Approximately 1,505,220 shares were traded during trading, a decline of 28% from the average daily volume of 2,099,451 shares. The stock had previously closed at $79.91.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on ROKU. JPMorgan Chase & Co. increased their price objective on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Bank of America raised their target price on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research report on Monday, September 30th. Morgan Stanley raised their target price on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Macquarie reaffirmed an “outperform” rating and set a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Finally, Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Down 1.8 %

The business has a 50 day moving average price of $75.47 and a 200 day moving average price of $69.54. The stock has a market cap of $11.39 billion, a P/E ratio of -65.39 and a beta of 2.05.

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

Insider Activity at Roku

In other news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $387,544. The trade was a 83.28 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,095 shares of company stock valued at $5,661,038 over the last ninety days. 13.98% of the stock is owned by company 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 the business. Holocene Advisors LP purchased a new stake in Roku during the 3rd quarter worth approximately $129,015,000. Kessler Investment Group LLC grew its holdings in shares of Roku by 21.8% during the third quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after buying an additional 13,590 shares during the last quarter. National Bank of Canada FI grew its holdings in shares of Roku by 11,626.3% during the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after buying an additional 149,514 shares during the last quarter. EULAV Asset Management increased its position in shares of Roku by 59.1% in the 3rd quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after acquiring an additional 68,000 shares during the period. Finally, Granite Bay Wealth Management LLC purchased a new position in Roku in the 2nd quarter worth $1,142,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.