Roku (NASDAQ:ROKU) Trading Down 0.6%

Shares of Roku, Inc. (NASDAQ:ROKU) fell 0.6% during mid-day trading on Wednesday . The stock traded as low as $58.77 and last traded at $59.78. 588,750 shares were traded during trading, a decline of 90% from the average session volume of 5,654,881 shares. The stock had previously closed at $60.14.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several research analyst reports. Seaport Res Ptn upgraded Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Pivotal Research reduced their price objective on shares of Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Rosenblatt Securities reissued a “neutral” rating and issued a $89.00 target price on shares of Roku in a research report on Friday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Friday, April 26th. Finally, Wells Fargo & Company boosted their price objective on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $82.50.

Roku Trading Down 1.0 %

The firm has a 50-day moving average of $61.91 and a 200 day moving average of $78.30. The stock has a market capitalization of $8.58 billion, a price-to-earnings ratio of -14.98 and a beta of 1.69.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The company’s quarterly revenue was up 19.0% compared to the same quarter last year. During the same period last year, the company earned ($1.38) earnings per share. Equities research analysts predict that Roku, Inc. will post -1.94 EPS for the current fiscal year.

Insider Activity

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the sale, the senior vice president now directly owns 81,459 shares in the company, valued at $5,148,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the sale, the senior vice president now directly owns 81,459 shares in the company, valued at $5,148,208.80. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders sold 54,751 shares of company stock worth $4,375,835 over the last three months. Corporate insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds have recently modified their holdings of the stock. Gotham Asset Management LLC increased its stake in Roku by 200.3% in the 3rd quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock worth $2,903,000 after purchasing an additional 27,431 shares in the last quarter. Nordea Investment Management AB raised its holdings in shares of Roku by 8.2% during the fourth quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock valued at $669,000 after acquiring an additional 551 shares during the period. Barclays PLC lifted its position in shares of Roku by 13.0% in the 3rd quarter. Barclays PLC now owns 215,766 shares of the company’s stock valued at $15,231,000 after acquiring an additional 24,765 shares in the last quarter. Deutsche Bank AG boosted its stake in Roku by 27.6% in the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock worth $10,922,000 after purchasing an additional 33,500 shares during the period. Finally, Vontobel Holding Ltd. grew its position in Roku by 32.4% during the 4th quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock worth $7,312,000 after purchasing an additional 19,543 shares in the last quarter. 86.30% of the stock is currently 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.