Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares were down 2% during mid-day trading on Friday . The company traded as low as $74.19 and last traded at $75.20. Approximately 790,534 shares were traded during mid-day trading, a decline of 79% from the average daily volume of 3,822,249 shares. The stock had previously closed at $76.75.
Analysts Set New Price Targets
A number of equities analysts have issued reports on ROKU shares. Guggenheim reiterated a "buy" rating and issued a $100.00 price objective on shares of Roku in a report on Friday, May 2nd. Moffett Nathanson raised Roku from a "sell" rating to a "neutral" rating and set a $70.00 price target on the stock in a research report on Tuesday, March 4th. Rosenblatt Securities reduced their price objective on Roku from $100.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. Citigroup lowered their price objective on Roku from $81.00 to $68.00 and set a "neutral" rating for the company in a research note on Tuesday, May 6th. Finally, Redburn Atlantic raised Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Monday, April 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $88.37.
Check Out Our Latest Research Report on ROKU
Roku Stock Performance
The stock has a market capitalization of $10.86 billion, a P/E ratio of -83.61 and a beta of 2.09. The firm has a fifty day moving average price of $67.45 and a two-hundred day moving average price of $74.78.
Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.02 billion for the quarter, compared to the consensus estimate of $1.01 billion. During the same quarter in the prior year, the company earned ($0.35) earnings per share. Roku's revenue was up 15.8% on a year-over-year basis. On average, research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.
Insider Buying and Selling
In related news, insider Charles Collier sold 7,181 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The shares were sold at an average price of $75.00, for a total value of $538,575.00. Following the transaction, the insider now owns 10,970 shares of the company's stock, valued at approximately $822,750. This trade represents a 39.56% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CAO Matthew C. Banks sold 629 shares of the firm'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 now directly owns 8,555 shares in the company, valued at approximately $624,343.90. The trade was a 6.85% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 64,737 shares of company stock valued at $4,987,114. 13.98% of the stock is owned by insiders.
Hedge Funds Weigh In On Roku
A number of institutional investors and hedge funds have recently made changes to their positions in the business. Garde Capital Inc. purchased a new position in Roku during the first quarter valued at approximately $25,000. Vision Financial Markets LLC purchased a new position in Roku during the fourth quarter valued at approximately $30,000. Beaird Harris Wealth Management LLC purchased a new position in Roku during the first quarter valued at approximately $30,000. Banque Transatlantique SA purchased a new position in Roku during the first quarter valued at approximately $28,000. Finally, Golden State Wealth Management LLC lifted its holdings in Roku by 125.4% during the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after purchasing an additional 247 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company's stock.
Roku Company Profile
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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.
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