Roku (NASDAQ:ROKU) Stock Price Down 0.2% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s stock price traded down 0.2% during mid-day trading on Thursday . The stock traded as low as $71.54 and last traded at $72.10. 499,559 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,430,611 shares. The stock had previously closed at $72.27.

Analyst Ratings Changes

A number of research analysts have recently commented on the stock. Rosenblatt Securities boosted their target price on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Loop Capital upped their price objective on shares of Roku from $65.00 to $70.00 and gave the company a “hold” rating in a research report on Thursday, October 31st. Wells Fargo & Company raised their target price on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, October 1st. Finally, Wedbush raised their price objective on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $83.95.

Roku Trading Down 0.3 %

The firm has a market cap of $10.43 billion, a P/E ratio of -60.08 and a beta of 2.07. The business’s 50-day moving average is $73.28 and its two-hundred day moving average is $64.00.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned ($2.33) EPS. On average, analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Activity

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 69,776 shares of company stock valued at $5,267,305. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Canada Pension Plan Investment Board lifted its position in Roku by 138.1% in the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after purchasing an additional 198,600 shares during the period. AQR Capital Management LLC boosted its stake in Roku by 645.3% during the second quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock valued at $13,278,000 after buying an additional 191,831 shares in the last quarter. ARK Investment Management LLC grew its holdings in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after acquiring an additional 159,785 shares during the period. Andra AP fonden raised its position in Roku by 116.6% in the second quarter. Andra AP fonden now owns 293,900 shares of the company’s stock worth $17,613,000 after acquiring an additional 158,200 shares in the last quarter. Finally, Acadian Asset Management LLC lifted its holdings in Roku by 6,522.2% in the 1st quarter. Acadian Asset Management LLC now owns 157,409 shares of the company’s stock valued at $10,252,000 after acquiring an additional 155,032 shares during the last quarter. 86.30% of the stock is currently 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.