Roku (NASDAQ:ROKU) Trading Down 2.1% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price dropped 2.1% during mid-day trading on Thursday . The stock traded as low as $68.68 and last traded at $69.47. Approximately 570,899 shares were traded during trading, a decline of 85% from the average daily volume of 3,719,191 shares. The stock had previously closed at $70.96.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of research reports. Bank of America upped their target price on shares of Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday, February 14th. Pivotal Research upgraded Roku from a “hold” rating to a “buy” rating and raised their price objective for the company from $65.00 to $125.00 in a research report on Friday, February 14th. Jefferies Financial Group upgraded Roku from an “underperform” rating to a “hold” rating and boosted their target price for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Citigroup upped their price objective on Roku from $70.00 to $103.00 and gave the stock a “neutral” rating in a report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $96.71.

Roku Stock Up 0.2 %

The firm has a market capitalization of $9.89 billion, a PE ratio of -76.16 and a beta of 2.12. The company’s 50-day simple moving average is $81.73 and its 200 day simple moving average is $77.00.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 5,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $502,000.00. Following the transaction, the chief financial officer now owns 58,555 shares in the company, valued at approximately $5,878,922. This represents a 7.87 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 93,308 shares of company stock worth $8,296,166. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Audent Global Asset Management LLC increased its stake in shares of Roku by 222.9% during the fourth quarter. Audent Global Asset Management LLC now owns 21,127 shares of the company’s stock worth $1,571,000 after purchasing an additional 14,584 shares in the last quarter. Siemens Fonds Invest GmbH purchased a new stake in Roku during the 4th quarter worth approximately $1,681,000. Fluent Financial LLC acquired a new position in shares of Roku during the fourth quarter valued at approximately $660,000. United Advisor Group LLC lifted its position in shares of Roku by 0.9% in the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after acquiring an additional 130 shares in the last quarter. Finally, Empirical Capital Management LLC boosted its stake in shares of Roku by 0.5% in the fourth quarter. Empirical Capital Management LLC now owns 284,500 shares of the company’s stock worth $21,150,000 after acquiring an additional 1,300 shares during 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.