Roku (NASDAQ:ROKU) Stock Price Down 0.9%

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares fell 0.9% during trading on Wednesday . The stock traded as low as $61.55 and last traded at $61.70. 1,242,766 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 5,579,964 shares. The stock had previously closed at $62.26.

Analyst Ratings Changes

A number of research firms recently issued reports on ROKU. Jefferies Financial Group began coverage on Roku in a research report on Thursday, May 2nd. They set an "underperform" rating and a $50.00 price objective for the company. Citigroup reduced their price objective on Roku from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, April 30th. Pivotal Research reduced their price objective on Roku from $85.00 to $75.00 and set a "hold" rating for the company in a research report on Friday, February 16th. Seaport Res Ptn upgraded Roku from a "neutral" rating to a "buy" rating in a research report on Monday, April 29th. Finally, Wells Fargo & Company boosted their price objective on Roku from $45.00 to $52.00 and gave the company an "underweight" rating in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $82.50.

Roku Stock Performance

The business has a 50 day simple moving average of $61.59 and a 200-day simple moving average of $78.23. The stock has a market capitalization of $8.98 billion, a P/E ratio of -15.61 and a beta of 1.69.

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

Insider Transactions at Roku

In other news, insider Charles Collier sold 12,277 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total transaction of $798,741.62. Following the completion of the sale, the insider now directly owns 4,292 shares of the company's stock, valued at approximately $279,237.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other news, insider Charles Collier sold 12,277 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total transaction of $798,741.62. Following the completion of the sale, the insider now directly owns 4,292 shares of the company's stock, valued at approximately $279,237.52. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen H. Kay sold 4,310 shares of the firm's stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the sale, the senior vice president now directly owns 81,459 shares of the company's stock, valued at $5,148,208.80. The disclosure for this sale can be found here. Insiders sold a total of 29,751 shares of company stock valued at $1,909,835 in the last three months. 13.63% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in shares of Roku in the fourth quarter worth $27,000. Creative Financial Designs Inc. ADV acquired a new stake in shares of Roku in the fourth quarter worth $29,000. Quarry LP boosted its position in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company's stock worth $40,000 after buying an additional 266 shares during the period. Federated Hermes Inc. acquired a new stake in shares of Roku in the third quarter worth $37,000. Finally, Headinvest LLC acquired a new stake in shares of Roku in the third quarter worth $42,000. Institutional investors and hedge funds own 86.30% of the company's stock.

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.

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