Roku (NASDAQ:ROKU) Shares Down 0.7%

Roku, Inc. (NASDAQ:ROKU) shares were down 0.7% on Thursday . The stock traded as low as $58.04 and last traded at $58.69. Approximately 964,752 shares traded hands during trading, a decline of 83% from the average daily volume of 5,783,581 shares. The stock had previously closed at $59.13.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Oppenheimer cut Roku from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Stephens restated an “overweight” rating and issued a $105.00 target price on shares of Roku in a report on Friday, February 16th. Piper Sandler restated a “neutral” rating and set a $65.00 target price (down previously from $81.00) on shares of Roku in a research report on Friday, April 26th. Wells Fargo & Company boosted 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. Finally, Citigroup decreased their price target on shares of Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $82.50.

Roku Stock Down 1.4 %

The firm’s fifty day moving average price is $62.07 and its 200-day moving average price is $78.13. The stock has a market cap of $8.48 billion, a P/E ratio of -14.81 and a beta of 1.69.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. The firm had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period in the prior year, the firm posted ($1.38) earnings per share. Sell-side analysts predict that Roku, Inc. will post -1.87 earnings per share for the current year.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the sale, the chief executive officer now owns 141,221 shares in the company, valued at $13,930,039.44. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Charles Collier sold 12,277 shares of the business’s stock in a transaction dated Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total transaction of $798,741.62. Following the sale, the insider now owns 4,292 shares of the company’s stock, valued at $279,237.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at $13,930,039.44. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,751 shares of company stock valued at $4,375,835. Company insiders own 13.63% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its holdings in Roku by 835.6% in the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after acquiring an additional 610 shares during the period. GSA Capital Partners LLP grew its position in Roku by 70.4% during the first quarter. GSA Capital Partners LLP now owns 15,540 shares of the company’s stock valued at $1,013,000 after buying an additional 6,420 shares during the period. Nikko Asset Management Americas Inc. raised its position in Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares during the period. Daiwa Securities Group Inc. raised its holdings in Roku by 411.0% in the 1st quarter. Daiwa Securities Group Inc. now owns 46,689 shares of the company’s stock worth $3,042,000 after purchasing an additional 37,552 shares during the period. Finally, Nordea Investment Management AB grew its holdings in Roku by 8.2% during the first quarter. Nordea Investment Management AB now owns 7,842 shares of the company’s stock valued at $516,000 after purchasing an additional 595 shares during the period. 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.