Roku (NASDAQ:ROKU) Stock Price Down 0.2% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price dropped 0.2% on Wednesday . The stock traded as low as $77.60 and last traded at $78.41. Approximately 708,736 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 4,447,325 shares. The stock had previously closed at $78.57.

Analysts Set New Price Targets

ROKU has been the topic of several research reports. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Friday, September 13th. Bank of America upped their target price on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 30th. Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Roku in a research note on Friday, August 2nd. Robert W. Baird increased their price objective on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Finally, Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a research note on Friday, August 23rd. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $81.14.

Roku Stock Performance

The business has a fifty day moving average price of $66.77 and a 200 day moving average price of $62.07. The company has a market capitalization of $11.15 billion, a PE ratio of -19.65 and a beta of 2.08.

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

Insider Activity at Roku

In related news, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the sale, the insider now directly owns 12,064 shares in the company, valued at approximately $784,160. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Collier sold 3,590 shares of Roku stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now owns 12,064 shares of the company’s stock, valued at approximately $784,160. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 47,156 shares of company stock worth $3,481,100. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quarry LP boosted its position in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares during the period. Future Financial Wealth Managment LLC acquired a new position in Roku during the 3rd quarter valued at approximately $43,000. Benjamin Edwards Inc. boosted its position in Roku by 43.5% during the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 shares during the period. EverSource Wealth Advisors LLC boosted its position in 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 period. Finally, Geneos Wealth Management Inc. boosted its position in 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 purchasing an additional 610 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.