Roku (NASDAQ:ROKU) Shares Down 2.4% – Here’s What Happened

by · The Markets Daily

Roku, Inc. (NASDAQ:ROKU – Get Free Report)’s stock price dropped 2.4% on Wednesday . The stock traded as low as $74.47 and last traded at $74.98. Approximately 887,504 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 4,355,405 shares. The stock had previously closed at $76.79.

Analyst Ratings Changes

Several analysts have issued reports on the stock. Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Wedbush lifted their price target on Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday. Rosenblatt Securities reduced their target price on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Finally, Wells Fargo & Company upgraded Roku from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $50.00 to $72.00 in a research note on Thursday, September 5th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $82.30.

Read Our Latest Analysis on ROKU

Roku Trading Up 1.7 %

The company’s 50-day moving average is $72.04 and its 200-day moving average is $63.22. The firm has a market cap of $10.85 billion, a price-to-earnings ratio of -18.95 and a beta of 2.08.

Roku (NASDAQ:ROKU – Get Free Report) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same quarter last year, the company posted ($0.76) EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Roku, Inc. will post -1.44 EPS for the current year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the transaction, the chief financial officer now owns 53,267 shares of the company’s stock, valued at $4,061,608.75. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,566 shares of company stock valued at $5,254,000. 13.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Smith Group Asset Management LLC acquired a new stake in Roku in the third quarter valued at $547,000. PFG Investments LLC raised its position in shares of Roku by 3.7% during the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after acquiring an additional 150 shares during the last quarter. Cross Staff Investments Inc bought a new stake in Roku in the third quarter valued at approximately $224,000. International Assets Investment Management LLC increased its position in Roku by 8,030.0% during the 3rd quarter. International Assets Investment Management LLC now owns 108,780 shares of the company’s stock valued at $8,122,000 after purchasing an additional 107,442 shares during the period. Finally, Sequoia Financial Advisors LLC raised its holdings in Roku by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after purchasing an additional 202 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Company Profile

(Get Free Report)

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.

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