Roku (NASDAQ:ROKU) Stock Price Down 2.6%

Roku, Inc. (NASDAQ:ROKU - Get Free Report) fell 2.6% during trading on Friday . The stock traded as low as $58.53 and last traded at $58.67. 742,318 shares changed hands during mid-day trading, a decline of 87% from the average session volume of 5,571,747 shares. The stock had previously closed at $60.24.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ROKU shares. Wells Fargo & Company increased their price objective on shares of Roku from $45.00 to $52.00 and gave the company an "underweight" rating in a report on Friday, April 26th. Needham & Company LLC reissued a "buy" rating and issued a $100.00 price objective on shares of Roku in a research note on Friday, April 26th. Susquehanna lowered their target price on shares of Roku from $110.00 to $80.00 and set a "positive" rating on the stock in a research note on Monday, April 29th. Piper Sandler reiterated a "neutral" rating and issued a $65.00 target price (down from $81.00) on shares of Roku in a research report on Friday, April 26th. Finally, Seaport Res Ptn upgraded shares of Roku from a "neutral" rating to a "buy" rating in a report on Monday, April 29th. Four research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Roku presently has an average rating of "Hold" and a consensus price target of $82.50.

Roku Price Performance

The stock has a market cap of $8.35 billion, a price-to-earnings ratio of -14.70 and a beta of 1.69. The business's 50 day moving average is $61.77 and its 200 day moving average is $78.04.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts' consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The company had revenue of $881.50 million for the quarter, compared to analysts' expectations of $843.54 million. During the same quarter last year, the company earned ($1.38) earnings per share. The firm's revenue for the quarter was up 19.0% on a year-over-year basis. As a group, analysts forecast that Roku, Inc. will post -1.94 earnings per share for the current year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Roku news, insider Charles Collier sold 4,182 shares of the business's stock in a transaction on Friday, March 8th. The shares were sold at an average price of $65.00, for a total value of $271,830.00. Following the transaction, the insider now directly owns 8,474 shares of the company's stock, valued at approximately $550,810. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction on 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 owns 141,221 shares of the company's stock, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Over the last quarter, insiders sold 54,751 shares of company stock worth $4,375,835. Company insiders own 13.63% of the company's stock.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC purchased a new stake in shares of Roku during the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Roku during the 4th quarter valued at about $29,000. Federated Hermes Inc. purchased a new stake in shares of Roku during the 3rd quarter valued at $37,000. Quarry LP lifted its stake in shares of Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company's stock valued at $40,000 after purchasing an additional 266 shares in the last quarter. Finally, Benjamin Edwards Inc. raised its stake in shares of Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company's stock valued at $40,000 after acquiring an additional 187 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.