Roku (NASDAQ:ROKU) Trading Down 1.7%

Roku, Inc. (NASDAQ:ROKU) shares fell 1.7% during mid-day trading on Friday . The company traded as low as $58.77 and last traded at $58.94. 1,398,378 shares changed hands during mid-day trading, a decline of 76% from the average session volume of 5,751,405 shares. The stock had previously closed at $59.95.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on ROKU shares. Jefferies Financial Group started coverage on Roku in a report on Thursday. They set an “underperform” rating and a $50.00 price target on the stock. Stephens reiterated an “overweight” rating and issued a $105.00 target price on shares of Roku in a report on Friday, February 16th. Wells Fargo & Company raised their price target on shares of Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Benchmark lowered their price objective on shares of Roku from $115.00 to $105.00 and set a “buy” rating on the stock in a research report on Friday, April 26th. Finally, Wedbush cut their target price on shares of Roku from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $82.50.

Roku Trading Down 1.4 %

The stock has a fifty day moving average price of $62.07 and a 200 day moving average price of $78.13. The firm has a market cap of $8.48 billion, a price-to-earnings ratio of -14.81 and a beta of 1.69.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The company had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same quarter last year, the company posted ($1.38) earnings per share. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, sell-side analysts forecast that Roku, Inc. will post -1.97 EPS for the current year.

Insider Buying and Selling

In related news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roku news, insider Charles Collier sold 8,365 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $528,668.00. Following the completion of the sale, the insider now directly owns 12,656 shares of the company’s stock, valued at approximately $799,859.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction dated Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the transaction, the senior vice president now owns 81,459 shares in the company, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. Insiders have sold 54,751 shares of company stock worth $4,375,835 in the last quarter. 13.63% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently added to or reduced their stakes in ROKU. FMR LLC raised its stake in shares of Roku by 85.9% in the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after buying an additional 4,363,754 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. boosted 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 valued at $462,108,000 after buying an additional 1,455,408 shares in the last quarter. Norges Bank bought a new stake in Roku during the fourth quarter worth about $90,386,000. Finally, Lord Abbett & CO. LLC acquired a new stake in shares of Roku during the third quarter worth approximately $55,182,000. 86.30% of the stock is owned by institutional investors and hedge funds.

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.