Roku (NASDAQ:ROKU) Trading Down 2.1% – Time to Sell?

Roku, Inc. (NASDAQ:ROKU) shares traded down 2.1% on Monday . The company traded as low as $135.04 and last traded at $135.20. 8,313,885 shares changed hands during mid-day trading, an increase of 121% from the average session volume of 3,755,593 shares. The stock had previously closed at $138.07.

Analyst Ratings Changes

Several analysts have recently commented on the company. Robert W. Baird reissued a “neutral” rating and issued a $160.00 price objective on shares of Roku in a research note on Monday, June 15th. Guggenheim lifted their target price on Roku from $140.00 to $145.00 and gave the company a “buy” rating in a research report on Tuesday, June 9th. Wedbush downgraded Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target for the company. in a report on Tuesday, June 16th. Morgan Stanley increased their price target on Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Finally, Wells Fargo & Company lifted their price objective on shares of Roku from $137.00 to $167.00 and gave the stock an “overweight” rating in a report on Friday, May 1st. Eleven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Roku has a consensus rating of “Hold” and a consensus price target of $153.71.

Roku Price Performance

The business’s fifty day moving average is $124.07 and its 200-day moving average is $108.38. The firm has a market cap of $20.04 billion, a PE ratio of 102.22 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion for the quarter, compared to analysts’ expectations of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company’s quarterly revenue was up 22.4% on a year-over-year basis. During the same period in the previous year, the company earned ($0.19) earnings per share. Analysts forecast that Roku, Inc. will post 2.41 EPS for the current year.

Insiders Place Their Bets

In other Roku news, insider Mustafa Ozgen sold 10,194 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the sale, the insider directly owned 19,185 shares in the company, valued at $2,762,640. The trade was a 34.70% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Friday, June 12th. The shares were sold at an average price of $130.00, for a total value of $3,250,000.00. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 713,194 shares of company stock valued at $81,763,589. Company insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in the business. AQR Capital Management LLC raised its position in shares of Roku by 10.6% in the fourth quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock valued at $310,298,000 after purchasing an additional 274,024 shares during the period. Geode Capital Management LLC boosted its holdings in Roku by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after buying an additional 168,214 shares during the period. Arrowstreet Capital Limited Partnership grew its stake in Roku by 229.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock valued at $192,868,000 after buying an additional 1,419,772 shares in the last quarter. Holocene Advisors LP raised its holdings in 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, Renaissance Technologies LLC raised its holdings in Roku by 22.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,565,100 shares of the company’s stock valued at $148,090,000 after acquiring an additional 290,200 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

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.