Roku (NASDAQ:ROKU) Stock Price Down 2.7%

Shares of Roku, Inc. (NASDAQ:ROKU) were down 2.7% during mid-day trading on Wednesday . The company traded as low as $52.50 and last traded at $52.53. Approximately 2,836,958 shares changed hands during trading, an increase of 4% from the average daily volume of 2,727,469 shares. The stock had previously closed at $53.97.

Wall Street Analyst Weigh In

ROKU has been the topic of a number of research analyst reports. Wells Fargo & Company raised their target price on shares of Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research report on Friday, April 26th. Rosenblatt Securities restated a “neutral” rating and set a $89.00 price objective on shares of Roku in a research report on Friday, April 26th. Piper Sandler reaffirmed a “neutral” rating and issued a $65.00 target price (down previously from $81.00) on shares of Roku in a report on Friday, April 26th. Wedbush cut their price target on Roku from $80.00 to $75.00 and set an “outperform” rating on the stock in a research note on Friday, April 26th. Finally, Seaport Res Ptn raised Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, Roku presently has a consensus rating of “Hold” and an average price target of $82.50.

Roku Price Performance

The business has a 50 day moving average price of $58.15 and a 200-day moving average price of $72.72.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.64) by $0.29. The firm had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The company’s revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.38) earnings per share. Sell-side analysts predict that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares in the company, valued at $5,108,998.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the transaction, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total value of $409,532.43. Following the completion of the sale, the insider now directly owns 15,654 shares of the company’s stock, valued at approximately $892,747.62. The disclosure for this sale can be found here. Insiders have sold a total of 23,898 shares of company stock valued at $1,347,966 over the last ninety days. 13.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. GAMMA Investing LLC bought a new stake in shares of Roku during the fourth quarter worth about $27,000. Creative Financial Designs Inc. ADV bought a new stake in Roku during the 4th quarter worth approximately $29,000. Federated Hermes Inc. purchased a new stake in shares of Roku in the third quarter worth approximately $37,000. Quarry LP lifted its holdings in shares of Roku by 160.2% in the fourth 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. Finally, Benjamin Edwards Inc. boosted its position in shares of Roku by 43.5% during 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. 86.30% of the stock is owned by 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.