Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) dropped 1.7% during mid-day trading on Tuesday . The company traded as low as $57.47 and last traded at $57.96. Approximately 1,178,484 shares changed hands during trading, a decline of 79% from the average daily volume of 5,743,729 shares. The stock had previously closed at $58.94.
Analyst Upgrades and Downgrades
Several brokerages recently weighed in on ROKU. Stephens restated an "overweight" rating and issued a $105.00 price objective on shares of Roku in a report on Friday, February 16th. Morgan Stanley cut their price objective on shares of Roku from $65.00 to $60.00 and set an "underweight" rating on the stock in a report on Friday, April 5th. Oppenheimer lowered shares of Roku from an "outperform" rating to a "market perform" rating in a report on Friday, February 16th. Wedbush restated an "outperform" rating and issued a $120.00 price objective on shares of Roku in a report on Friday, February 16th. Finally, Seaport Res Ptn lowered shares of Roku from a "neutral" rating to a "sell" rating in a report on Monday, December 18th. Five research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, Roku currently has a consensus rating of "Hold" and a consensus price target of $86.67.
View Our Latest Analysis on ROKU
Roku Price Performance
The company's 50-day moving average price is $68.64 and its 200-day moving average price is $79.31. The company has a market cap of $8.30 billion, a P/E ratio of -11.52 and a beta of 1.66.
Roku (NASDAQ:ROKU - Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, topping the consensus estimate of ($0.65) by $0.10. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The business had revenue of $984.40 million during the quarter, compared to analysts' expectations of $967.72 million. During the same quarter in the prior year, the company posted ($1.70) earnings per share. The firm's revenue was up 13.5% on a year-over-year basis. On average, equities research analysts predict that Roku, Inc. will post -2.16 EPS for the current year.
Insider Buying and Selling
In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the sale, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the sale, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 8,365 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $528,668.00. Following the completion of the sale, the insider now owns 12,656 shares of the company's stock, valued at approximately $799,859.20. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,545 shares of company stock worth $4,364,035. 13.63% of the stock is owned by insiders.
Institutional Trading of Roku
A number of hedge funds have recently modified their holdings of ROKU. FMR LLC increased its position in Roku by 85.9% during the third quarter. FMR LLC now owns 9,441,349 shares of the company's stock worth $666,465,000 after acquiring an additional 4,363,754 shares during the period. Renaissance Technologies LLC increased its position in Roku by 772.1% during the first quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company's stock worth $351,771,000 after acquiring an additional 2,486,100 shares during the period. Wellington Management Group LLP increased its position in Roku by 97.2% during the first quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company's stock worth $522,878,000 after acquiring an additional 2,057,633 shares during the period. Norges Bank bought a new position in Roku in the 4th quarter valued at about $90,386,000. Finally, Lord Abbett & CO. LLC bought a new position in Roku in the 3rd quarter valued at about $55,182,000. Institutional investors and hedge funds own 86.30% of the company's stock.
About Roku
(
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.
See Also
Before you consider Roku, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and Roku wasn't on the list.
While Roku currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Thinking about investing in Meta, Roblox, or Unity? Click the link to learn what streetwise investors need to know about the metaverse and public markets before making an investment.
Get This Free Report
