Roku (NASDAQ:ROKU) Shares Down 1.5%

Roku, Inc. (NASDAQ:ROKU) traded down 1.5% during trading on Monday . The company traded as low as $74.82 and last traded at $74.85. 461,708 shares changed hands during trading, a decline of 90% from the average session volume of 4,564,392 shares. The stock had previously closed at $76.02.

Analyst Ratings Changes

Several research firms have commented on ROKU. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Wedbush reaffirmed an “outperform” rating and issued a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research note on Thursday, September 12th. Macquarie cut their price target on shares of Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research report on Friday, August 2nd. Finally, Bank of America dropped their target price on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $78.75.

Roku Stock Down 2.4 %

The firm has a market cap of $10.70 billion, a P/E ratio of -18.76 and a beta of 2.06. The company’s 50 day simple moving average is $63.33 and its 200-day simple moving average is $61.14.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. During the same quarter in the previous year, the business earned ($0.76) EPS. Roku’s revenue was up 14.3% compared to the same quarter last year. Equities research analysts predict that Roku, Inc. will post -1.45 EPS for the current year.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction 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. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was 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 directly owns 5,020 shares in the company, valued at approximately $376,500. The disclosure for this sale can be found here. Insiders sold 46,945 shares of company stock worth $3,465,135 in the last three months. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the business. Mcdonald Partners LLC grew its stake in shares of Roku by 0.9% in the second quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after buying an additional 175 shares in the last quarter. Benjamin Edwards Inc. lifted 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 worth $40,000 after purchasing an additional 187 shares in the last quarter. Beacon Capital Management LLC boosted its stake in shares of Roku by 17.7% in the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock valued at $101,000 after purchasing an additional 233 shares during the period. Arizona State Retirement System grew its holdings in shares of Roku by 0.7% in the second quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock valued at $2,077,000 after purchasing an additional 251 shares in the last quarter. Finally, Quarry LP lifted its holdings in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after buying an additional 266 shares in the last quarter. Hedge funds and other institutional investors 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.