Roku (NASDAQ:ROKU) Stock Price Down 2% – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) fell 2% during trading on Tuesday . The company traded as low as $81.54 and last traded at $82.87. 1,233,304 shares traded hands during mid-day trading, a decline of 57% from the average session volume of 2,840,788 shares. The stock had previously closed at $84.60.

Analysts Set New Price Targets

A number of brokerages have issued reports on ROKU. Jefferies Financial Group reduced their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Friday, November 1st. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. JMP Securities restated a “market outperform” rating and set a $95.00 price objective on shares of Roku in a research report on Monday, February 3rd. Piper Sandler raised their target price on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Finally, Macquarie reissued an “outperform” rating and set a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Stock Down 1.8 %

The company has a market cap of $12.06 billion, a price-to-earnings ratio of -69.39 and a beta of 2.05. The firm has a 50 day moving average price of $79.84 and a two-hundred day moving average price of $72.84.

Insider Activity at Roku

In related news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the sale, the insider now owns 3,790 shares of the company’s stock, valued at $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,555 shares in the company, valued at approximately $4,916,625. This trade represents a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,885 shares of company stock worth $5,712,912 over the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. grew its holdings in Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the period. Vision Financial Markets LLC bought a new stake in Roku during the 4th quarter worth approximately $30,000. Raelipskie Partnership purchased a new stake in shares of Roku in the third quarter worth approximately $32,000. Game Plan Financial Advisors LLC purchased a new stake in Roku in the 4th quarter valued at $37,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after purchasing an additional 491 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.