Roku (NASDAQ:ROKU) Trading Down 0% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price was down 0% during mid-day trading on Thursday . The stock traded as low as $75.51 and last traded at $77.84. Approximately 684,817 shares were traded during mid-day trading, a decline of 81% from the average daily volume of 3,675,501 shares. The stock had previously closed at $77.87.

Analysts Set New Price Targets

Several research firms recently weighed in on ROKU. Citizens Jmp raised Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. FBN Securities initiated coverage on Roku in a report on Friday. They set an “outperform” rating and a $93.00 price target for the company. Needham & Company LLC reissued a “buy” rating and issued a $120.00 price objective on shares of Roku in a research report on Monday, March 24th. Pivotal Research raised shares of Roku from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $125.00 in a research report on Friday, February 14th. Finally, JPMorgan Chase & Co. increased their price target on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and three have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.55.

Roku Stock Performance

The company’s 50 day moving average price is $81.10 and its 200 day moving average price is $77.59. The company has a market cap of $10.58 billion, a price-to-earnings ratio of -81.45 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 analysts’ consensus estimates of ($0.44) by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. As a group, analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 5,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $502,000.00. Following the sale, the chief financial officer now directly owns 58,555 shares of the company’s stock, valued at $5,878,922. This represents a 7.87 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Matthew C. Banks sold 1,906 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. This represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,908 shares of company stock worth $8,633,436 in the last three months. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Geneos Wealth Management Inc. grew its position in shares of Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after buying an additional 270 shares during the period. Vision Financial Markets LLC bought a new position in shares of Roku in the 4th quarter worth $30,000. Raelipskie Partnership acquired a new stake in shares of Roku during the third quarter worth $32,000. Game Plan Financial Advisors LLC bought a new stake in Roku in the fourth quarter valued at about $37,000. Finally, Harvest Fund Management Co. Ltd lifted its stake in Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after buying an additional 491 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.