Roku (NASDAQ:ROKU) Trading Down 1.4% - What's Next?

Roku, Inc. (NASDAQ:ROKU - Get Free Report) traded down 1.4% during mid-day trading on Monday . The stock traded as low as $85.82 and last traded at $87.07. 647,986 shares traded hands during trading, a decline of 83% from the average session volume of 3,842,934 shares. The stock had previously closed at $88.27.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wedbush reiterated an "outperform" rating and set a $100.00 price target on shares of Roku in a research report on Monday, June 16th. Redburn Atlantic upgraded shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Monday, April 7th. JPMorgan Chase & Co. increased their price target on shares of Roku from $75.00 to $85.00 and gave the stock an "overweight" rating in a research report on Tuesday, June 3rd. Piper Sandler increased their price target on shares of Roku from $65.00 to $84.00 and gave the stock a "neutral" rating in a research report on Thursday. Finally, Evercore ISI cut their target price on shares of Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Roku presently has an average rating of "Moderate Buy" and an average target price of $92.67.

Roku Trading Up 1.8%

The firm has a market capitalization of $13.17 billion, a P/E ratio of -123.63 and a beta of 2.12. The business's 50 day simple moving average is $76.24 and its two-hundred day simple moving average is $75.59.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. The firm had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The business's revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the business posted ($0.35) earnings per share. Analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, insider Charles Collier sold 3,590 shares of the company's stock in a transaction that occurred on Tuesday, June 17th. The shares were sold at an average price of $85.00, for a total value of $305,150.00. Following the completion of the transaction, the insider directly owned 7,380 shares in the company, valued at $627,300. This represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 629 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the transaction, the chief accounting officer owned 8,555 shares of the company's stock, valued at approximately $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,520 shares of company stock valued at $7,357,094 in the last three months. Corporate insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

Hedge funds and other institutional investors have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. boosted its position in shares of Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after acquiring an additional 1,082,548 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after acquiring an additional 56,820 shares during the last quarter. Lecap Asset Management Ltd. bought a new position in shares of Roku during the first quarter worth $511,000. Charles Schwab Investment Management Inc. boosted its position in shares of Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after acquiring an additional 34,898 shares during the last quarter. Finally, Achmea Investment Management B.V. boosted its position in shares of Roku by 146.4% during the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock worth $756,000 after acquiring an additional 6,042 shares during the last quarter. 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.