Roku (NASDAQ:ROKU) Stock Price Down 3.4% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares were down 3.4% on Tuesday . The company traded as low as $76.68 and last traded at $77.51. 1,170,372 shares changed hands during trading, a decline of 68% from the average daily volume of 3,608,945 shares. The stock had previously closed at $80.26.

Analyst Upgrades and Downgrades

ROKU has been the topic of several recent analyst reports. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Wells Fargo & Company upgraded Roku from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $74.00 to $129.00 in a research report on Friday, February 14th. JPMorgan Chase & Co. boosted their price target on shares of Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Finally, UBS Group upped their price objective on Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and an average price target of $96.71.

Roku Stock Up 0.2 %

The firm has a fifty day simple moving average of $82.17 and a 200-day simple moving average of $76.51. The company has a market cap of $11.74 billion, a PE ratio of -90.35 and a beta of 2.12.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Equities research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $2,510,000.00. Following the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,664,415.20. The trade was a 48.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the sale, the chief financial officer now owns 63,555 shares of the company’s stock, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 109,221 shares of company stock valued at $9,647,087 in the last ninety days. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in ROKU. FMR LLC boosted its holdings in Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares in the last quarter. Marshall Wace LLP lifted its holdings in shares of Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after buying an additional 2,030,036 shares during the period. Holocene Advisors LP purchased a new stake in shares of Roku in the third quarter valued at approximately $129,015,000. Cadian Capital Management LP acquired a new position in Roku during the fourth quarter worth $87,632,000. Finally, Jacobs Levy Equity Management Inc. grew its holdings in Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock worth $96,402,000 after acquiring an additional 1,082,548 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.