Roku (NASDAQ:ROKU) Shares Down 8.3% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price was down 8.3% during mid-day trading on Monday . The stock traded as low as $68.99 and last traded at $70.27. Approximately 1,488,528 shares changed hands during mid-day trading, a decline of 60% from the average daily volume of 3,705,013 shares. The stock had previously closed at $76.67.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of research reports. Citigroup raised their price objective on shares of Roku from $70.00 to $103.00 and gave the company a “neutral” rating in a report on Thursday, February 20th. Benchmark raised their price target on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 14th. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $86.00 target price on shares of Roku in a research report on Thursday, February 13th. Finally, Citizens Jmp raised Roku to a “strong-buy” rating in a report on Tuesday, January 21st. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roku currently has an average rating of “Moderate Buy” and an average target price of $96.71.

Roku Trading Down 7.2 %

The company has a market cap of $10.38 billion, a P/E ratio of -79.94 and a beta of 2.12. The stock’s 50-day moving average price is $82.29 and its 200-day moving average price is $77.05.

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

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. The trade was a 49.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This trade represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 118,308 shares of company stock worth $10,362,166. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors have recently modified their holdings of the business. Farther Finance Advisors LLC boosted its position in Roku by 23.9% in the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after purchasing an additional 121 shares during the last quarter. United Advisor Group LLC raised its stake in shares of Roku by 0.9% during the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock worth $1,073,000 after purchasing an additional 130 shares during the period. Cerity Partners LLC boosted its holdings in shares of Roku by 0.5% in the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock worth $1,984,000 after buying an additional 145 shares during the last quarter. GS Investments Inc. grew its position in Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares during the period. Finally, True Vision MN LLC raised its position in Roku by 3.1% in the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after acquiring an additional 152 shares during the period. 86.30% of the stock is owned by 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.