Roku (NASDAQ:ROKU) Shares Down 0.2% – What’s Next?

Roku, Inc. (NASDAQ:ROKU)’s share price fell 0.2% during trading on Thursday . The company traded as low as $78.59 and last traded at $79.44. 449,703 shares traded hands during trading, a decline of 84% from the average session volume of 2,790,315 shares. The stock had previously closed at $79.60.

Wall Street Analysts Forecast Growth

ROKU has been the topic of a number of recent research reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Roku in a research report on Tuesday, January 7th. Jefferies Financial Group lowered their price target on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Moffett Nathanson downgraded shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 target price on the stock. in a report on Friday, January 10th. Finally, Bank of America increased their price target on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and an average target price of $83.18.

Roku Stock Performance

The stock has a market capitalization of $11.80 billion, a price-to-earnings ratio of -67.74 and a beta of 2.05. The company has a fifty day simple moving average of $77.30 and a two-hundred day simple moving average of $71.29.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share 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 firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the prior year, the company earned ($2.33) earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities analysts anticipate that Roku, Inc. will post -1.09 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,193,100.32. This trade represents a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the sale, the insider now owns 3,790 shares in the company, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,095 shares of company stock valued at $5,726,218. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. GS Investments Inc. lifted its position in shares of Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares in the last quarter. PFG Investments LLC increased its stake in Roku by 3.7% in the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after buying an additional 150 shares during the last quarter. True Vision MN LLC lifted its position in shares of Roku by 3.1% during the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after buying an additional 152 shares in the last quarter. Sequoia Financial Advisors LLC grew its holdings in shares of Roku by 4.5% in the third quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after acquiring an additional 202 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC increased its position in shares of Roku by 11.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after acquiring an additional 222 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.