Roku (NASDAQ:ROKU) Stock Price Down 0.4% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) dropped 0.4% on Thursday . The stock traded as low as $74.40 and last traded at $74.89. Approximately 380,062 shares traded hands during trading, a decline of 91% from the average daily volume of 4,404,980 shares. The stock had previously closed at $75.21.

Analyst Ratings Changes

Several research analysts have commented on ROKU shares. Morgan Stanley boosted their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Friday, August 23rd. Jefferies Financial Group cut their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Bank of America upped their price target on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $83.95.

Roku Trading Down 7.3 %

The company has a market cap of $10.00 billion, a price-to-earnings ratio of -57.39 and a beta of 2.07. The stock’s 50-day moving average is $74.36 and its 200-day moving average is $64.65.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating 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 company had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period last year, the business posted ($2.33) EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, analysts predict that Roku, Inc. will post -1.1 EPS for the current year.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. This represents a 83.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 15,454 shares of the business’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 value of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares in the company, valued at $15,000. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,776 shares of company stock worth $5,267,305. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in the stock. Sender Co & Partners Inc. bought a new position in shares of Roku during the 3rd quarter valued at approximately $827,000. M&T Bank Corp grew its holdings in Roku by 19.1% during the third quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock valued at $525,000 after purchasing an additional 1,126 shares during the period. Raelipskie Partnership purchased a new stake in Roku in the third quarter worth $32,000. Nomura Asset Management Co. Ltd. lifted its position in shares of Roku by 14.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock valued at $2,719,000 after buying an additional 4,500 shares during the last quarter. Finally, MML Investors Services LLC grew its stake in shares of Roku by 9.8% during the 3rd quarter. MML Investors Services LLC now owns 10,592 shares of the company’s stock worth $791,000 after acquiring an additional 948 shares during the period. 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.