Roku (NASDAQ:ROKU) Shares Down 1.7%

Shares of Roku, Inc. (NASDAQ:ROKU) dropped 1.7% during trading on Tuesday . The company traded as low as $57.47 and last traded at $57.96. Approximately 1,178,484 shares traded hands during trading, a decline of 79% from the average daily volume of 5,743,729 shares. The stock had previously closed at $58.94.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on ROKU. Citigroup lowered their price objective on shares of Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 21st. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Roku in a research note on Friday, February 16th. Pivotal Research lowered 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. Stephens reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Roku in a research note on Friday, February 16th. Finally, Susquehanna lifted their price objective on shares of Roku from $100.00 to $110.00 and gave the stock a “positive” rating in a research note on Friday, February 16th. Five equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Roku currently has a consensus rating of “Hold” and an average price target of $86.67.

Roku Trading Down 0.4 %

The stock’s 50-day moving average is $67.19 and its 200 day moving average is $79.07.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.10. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The firm had revenue of $984.40 million for the quarter, compared to the consensus estimate of $967.72 million. During the same period in the previous year, the firm posted ($1.70) earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. As a group, equities analysts anticipate that Roku, Inc. will post -2.16 EPS for the current fiscal year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on 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 directly owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at $13,930,039.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Charles Collier sold 12,277 shares of Roku stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total transaction of $798,741.62. Following the completion of the sale, the insider now owns 4,292 shares of the company’s stock, valued at $279,237.52. The disclosure for this sale can be found here. Over the last three months, insiders have sold 54,545 shares of company stock valued at $4,364,035. Corporate insiders own 13.63% of the company’s stock.

Institutional Trading of Roku

Institutional investors have recently added to or reduced their stakes in the business. LM Advisors LLC acquired a new stake in Roku in the fourth quarter valued at approximately $27,000. GAMMA Investing LLC acquired a new stake in Roku in the fourth quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV acquired a new stake in Roku in the fourth quarter valued at approximately $29,000. Covestor Ltd lifted its stake in Roku by 693.2% in the first quarter. Covestor Ltd now owns 349 shares of the company’s stock valued at $44,000 after acquiring an additional 305 shares during the last quarter. Finally, Quarry LP acquired a new stake in shares of Roku in the second quarter worth $25,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Company Profile

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.