Roku (NASDAQ:ROKU) Stock Price Down 2.3% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price fell 2.3% during mid-day trading on Wednesday . The company traded as low as $92.21 and last traded at $93.10. 2,308,095 shares were traded during trading, a decline of 39% from the average session volume of 3,791,423 shares. The stock had previously closed at $95.27.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ROKU shares. Susquehanna reissued a “positive” rating and issued a $130.00 target price on shares of Roku in a research note on Friday, October 31st. Morgan Stanley reiterated an “underweight” rating on shares of Roku in a research note on Friday, October 31st. Zacks Research upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. Rosenblatt Securities lifted their target price on shares of Roku from $101.00 to $106.00 and gave the stock a “neutral” rating in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. upped their target price on shares of Roku from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Two research analysts have rated the stock with a Strong Buy rating, seventeen have issued a Buy rating, six have given a Hold rating and two have issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $111.14.

Roku Stock Performance

The firm has a market cap of $13.76 billion, a PE ratio of -465.48 and a beta of 2.18. The stock has a 50-day simple moving average of $99.57 and a two-hundred day simple moving average of $89.02.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, October 30th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Roku had a negative net margin of 0.61% and a negative return on equity of 1.08%. The company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same quarter in the prior year, the firm earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. Roku has set its Q4 2025 guidance at EPS. As a group, sell-side analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In related news, CEO Anthony J. Wood sold 50,000 shares of Roku stock in a transaction on Monday, November 10th. The stock was sold at an average price of $103.86, for a total value of $5,193,000.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Mustafa Ozgen sold 50,527 shares of the company’s stock in a transaction on Tuesday, September 9th. The shares were sold at an average price of $100.00, for a total value of $5,052,700.00. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 507,463 shares of company stock valued at $53,126,637 in the last ninety days. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently made changes to their positions in ROKU. AQR Capital Management LLC grew its position in shares of Roku by 275.5% during the 3rd quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock valued at $258,897,000 after acquiring an additional 1,897,407 shares during the period. Tableaux LLC purchased a new position in Roku during the second quarter valued at $1,746,000. Acadian Asset Management LLC grew its holdings in Roku by 456.7% during the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock valued at $134,222,000 after purchasing an additional 1,563,449 shares during the period. Holocene Advisors LP grew its stake in shares of Roku by 352.3% during the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after acquiring an additional 1,285,585 shares during the period. Finally, Duquesne Family Office LLC increased its stake in shares of Roku by 123.0% in the second quarter. Duquesne Family Office LLC now owns 1,100,500 shares of the company’s stock worth $96,723,000 after purchasing an additional 606,900 shares in the last quarter. Hedge funds and other institutional investors 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.