Roku (NASDAQ:ROKU) Shares Down 0.3% – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) dropped 0.3% on Tuesday . The stock traded as low as $69.09 and last traded at $70.91. Approximately 807,583 shares were traded during trading, a decline of 78% from the average daily volume of 3,740,339 shares. The stock had previously closed at $71.15.

Analysts Set New Price Targets

Several brokerages recently weighed in on ROKU. Jefferies Financial Group raised Roku from an “underperform” rating to a “hold” rating and lifted their price objective for the stock from $55.00 to $100.00 in a report on Thursday, February 20th. Bank of America increased their price objective on Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Wedbush reiterated an “outperform” rating and set a $100.00 price target on shares of Roku in a research report on Monday, February 10th. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and upped their target price for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $86.00 price target on shares of Roku in a research report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.71.

Roku Stock Performance

The stock’s 50 day simple moving average is $82.22 and its 200 day simple moving average is $77.11. The firm has a market capitalization of $10.16 billion, a P/E ratio of -78.25 and a beta of 2.12.

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

Insider Transactions at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at $583,092.16. The trade was a 20.80 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the completion of the transaction, the insider now owns 7,380 shares of the company’s stock, valued at approximately $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 93,308 shares of company stock valued at $8,296,166 over the last 90 days. 13.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

Institutional investors have recently added to or reduced their stakes in the business. FMR LLC lifted its position in Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after acquiring an additional 4,613,570 shares during the period. Vanguard Group Inc. lifted its stake in shares of Roku by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock worth $910,597,000 after purchasing an additional 185,676 shares during the period. Marshall Wace LLP grew its holdings in Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after purchasing an additional 2,030,036 shares during the period. T. Rowe Price Investment Management Inc. grew its position in Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock valued at $168,734,000 after acquiring an additional 215,841 shares during the period. Finally, Geode Capital Management LLC boosted its position in Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after purchasing an additional 56,820 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.