Roku (NASDAQ:ROKU) Shares Down 2.7% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) dropped 2.7% on Friday . The company traded as low as $91.68 and last traded at $93.27. Approximately 2,892,735 shares were traded during mid-day trading, a decline of 20% from the average daily volume of 3,629,229 shares. The stock had previously closed at $95.86.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on ROKU. Bank of America lifted their target price on Roku from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Evercore restated an “outperform” rating and issued a $150.00 price target on shares of Roku in a research note on Friday, February 13th. Guggenheim increased their price objective on shares of Roku from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Morgan Stanley set a $135.00 target price on shares of Roku and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, Weiss Ratings upgraded shares of Roku from a “sell (d-)” rating to a “hold (c-)” rating in a research report on Tuesday, February 17th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, Roku currently has an average rating of “Moderate Buy” and an average target price of $125.40.

Roku Stock Down 2.7%

The company has a market capitalization of $13.75 billion, a P/E ratio of 163.63 and a beta of 1.98. The business has a 50 day moving average of $96.76 and a 200 day moving average of $99.69.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.25. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.35 billion. Roku had a return on equity of 3.40% and a net margin of 1.87%.The company’s revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.24) EPS. On average, research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling

In related news, insider Charles Collier sold 1,715 shares of the company’s stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $100.00, for a total transaction of $171,500.00. Following the sale, the insider owned 11,131 shares of the company’s stock, valued at $1,113,100. This represents a 13.35% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dan Jedda sold 15,000 shares of the stock in a transaction on Monday, March 16th. The shares were sold at an average price of $94.23, for a total transaction of $1,413,450.00. Following the transaction, the chief financial officer owned 85,115 shares of the company’s stock, valued at $8,020,386.45. This trade represents a 14.98% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 213,124 shares of company stock valued at $21,433,878 in the last three months. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the business. Blue Trust Inc. grew its position in Roku by 680.0% in the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after acquiring an additional 204 shares in the last quarter. Aventura Private Wealth LLC purchased a new stake in Roku during the fourth quarter valued at approximately $26,000. Westfuller Advisors LLC bought a new stake in shares of Roku in the 3rd quarter valued at approximately $30,000. WPG Advisers LLC bought a new stake in shares of Roku in the 4th quarter valued at approximately $31,000. Finally, Safe Harbor Fiduciary LLC bought a new stake in shares of Roku in the 4th quarter valued at approximately $31,000. Institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.