Roku (NASDAQ:ROKU) Shares Down 0.2%

Roku, Inc. (NASDAQ:ROKU) shares fell 0.2% on Wednesday . The company traded as low as $61.25 and last traded at $61.59. 850,679 shares traded hands during mid-day trading, a decline of 85% from the average session volume of 5,590,202 shares. The stock had previously closed at $61.74.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on ROKU. Oppenheimer downgraded shares of Roku from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Morgan Stanley decreased their price target on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Stephens reissued an “overweight” rating and set a $105.00 price target on shares of Roku in a research note on Friday, February 16th. Susquehanna lifted their price target 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. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $89.00 price target on shares of Roku in a research note on Friday. Five equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Roku currently has an average rating of “Hold” and a consensus target price of $84.57.

Roku Trading Down 3.2 %

The stock has a market cap of $8.72 billion, a P/E ratio of -12.51 and a beta of 1.66. The stock’s fifty day moving average price is $63.11 and its 200 day moving average price is $78.59.

Roku (NASDAQ:ROKU) last announced its 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. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. During the same quarter in the previous year, the business posted ($1.38) EPS. The company’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts forecast that Roku, Inc. will post -2.12 earnings per share for the current year.

Insider Activity

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In related news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated 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 transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Jeffrey M. Blackburn purchased 8,000 shares of the company’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the purchase, the director now owns 8,000 shares in the company, valued at $511,680. The disclosure for this purchase can be found here. In the last 90 days, insiders have sold 54,545 shares of company stock worth $4,364,035. Corporate insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds have recently bought and sold shares of the business. GAMMA Investing LLC purchased a new position in Roku in the 4th quarter worth about $27,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Roku during the 4th quarter valued at about $29,000. Quarry LP increased its position in shares of Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares during the last quarter. Federated Hermes Inc. purchased a new stake in shares of Roku during the 3rd quarter valued at about $37,000. Finally, Headinvest LLC purchased a new stake in shares of Roku during the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.