Roku (NASDAQ:ROKU) Shares Down 1.2%

Shares of Roku, Inc. (NASDAQ:ROKU) dropped 1.2% during mid-day trading on Thursday . The company traded as low as $59.66 and last traded at $61.08. Approximately 1,145,286 shares traded hands during trading, a decline of 79% from the average daily volume of 5,562,169 shares. The stock had previously closed at $61.83.

Analyst Ratings Changes

A number of research firms have recently commented on ROKU. Benchmark restated a “buy” rating and issued a $115.00 price objective on shares of Roku in a report on Friday, April 19th. Pivotal Research reduced their price target on shares of Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research report on Wednesday, February 21st. Citigroup reduced their target price on shares of Roku from $110.00 to $75.00 and set a “neutral” rating on the stock in a report on Wednesday, February 21st. Finally, Wedbush lowered their price target on Roku from $120.00 to $80.00 and set an “outperform” rating for the company in a report on Friday, April 19th. Five analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $84.76.

Roku Stock Up 1.6 %

The company has a 50 day simple moving average of $63.74 and a 200-day simple moving average of $78.70. The stock has a market cap of $9.01 billion, a price-to-earnings ratio of -12.17 and a beta of 1.66.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.65) by $0.10. The business had revenue of $984.40 million for the quarter, compared to analyst estimates of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.70) EPS. On average, equities research analysts expect that Roku, Inc. will post -2.12 EPS for the current fiscal year.

Insider Activity at Roku

In other news, insider Charles Collier sold 4,182 shares of the stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the sale, the insider now directly owns 8,474 shares in the company, valued at approximately $550,810. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Charles Collier sold 4,182 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $65.00, for a total transaction of $271,830.00. Following the completion of the transaction, the insider now owns 8,474 shares in the company, valued at $550,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders sold a total of 54,545 shares of company stock valued at $4,364,035 in the last quarter. Insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Several large investors have recently bought and sold shares of ROKU. Fjarde AP Fonden Fourth Swedish National Pension Fund lifted its position in Roku by 4.1% in the first quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 28,000 shares of the company’s stock worth $1,825,000 after purchasing an additional 1,100 shares during the period. Spire Wealth Management lifted its holdings in shares of Roku by 77.9% in the first quarter. Spire Wealth Management now owns 1,224 shares of the company’s stock valued at $80,000 after buying an additional 536 shares during the period. Global Retirement Partners LLC boosted its stake in Roku by 76.5% during the first quarter. Global Retirement Partners LLC now owns 1,207 shares of the company’s stock valued at $79,000 after buying an additional 523 shares in the last quarter. Kessler Investment Group LLC grew its holdings in Roku by 2.6% during the first quarter. Kessler Investment Group LLC now owns 62,233 shares of the company’s stock worth $4,056,000 after acquiring an additional 1,593 shares during the period. Finally, PFG Investments LLC acquired a new stake in Roku in the 1st quarter valued at about $305,000. 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.