Roku, Inc. (NASDAQ:ROKU - Get Free Report) gapped down prior to trading on Friday . The stock had previously closed at $94.16, but opened at $85.22. Roku shares last traded at $81.75, with a volume of 3,334,789 shares trading hands.
Analyst Ratings Changes
ROKU has been the topic of several recent analyst reports. Loop Capital upgraded Roku from a "hold" rating to a "buy" rating and raised their price objective for the company from $80.00 to $100.00 in a research note on Tuesday, June 17th. Pivotal Research raised their target price on Roku from $100.00 to $120.00 and gave the company a "buy" rating in a research report on Friday. Guggenheim raised their target price on Roku from $100.00 to $105.00 and gave the company a "buy" rating in a research report on Friday. KeyCorp raised their target price on Roku from $115.00 to $116.00 and gave the company an "overweight" rating in a research report on Friday. Finally, Redburn Atlantic raised Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price for the company in a research report on Monday, April 7th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to data from MarketBeat.com, Roku presently has a consensus rating of "Moderate Buy" and a consensus price target of $97.84.
Check Out Our Latest Analysis on Roku
Roku Trading Down 13.4%
The business has a fifty day moving average of $83.07 and a two-hundred day moving average of $76.81. The company has a market cap of $11.90 billion, a price-to-earnings ratio of -111.18 and a beta of 2.12.
Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Thursday, July 31st. The company reported $0.07 EPS for the quarter, beating analysts' consensus estimates of ($0.16) by $0.23. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The firm had revenue of $1.11 billion for the quarter, compared to analysts' expectations of $1.07 billion. During the same period in the prior year, the firm posted ($0.18) earnings per share. The firm's quarterly revenue was up 14.7% on a year-over-year basis. On average, research analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.
Insider Buying and Selling at Roku
In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $89.64, for a total transaction of $2,241,000.00. Following the sale, the chief executive officer directly owned 11,953 shares in the company, valued at approximately $1,071,466.92. The trade was a 67.65% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles Collier sold 212,559 shares of Roku stock in a transaction dated Monday, July 21st. The shares were sold at an average price of $95.00, for a total transaction of $20,193,105.00. Following the sale, the insider owned 200 shares in the company, valued at approximately $19,000. This trade represents a 99.91% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 308,873 shares of company stock valued at $28,076,913 in the last ninety days. Company insiders own 13.98% of the company's stock.
Hedge Funds Weigh In On Roku
Several institutional investors have recently added to or reduced their stakes in the company. OVERSEA CHINESE BANKING Corp Ltd lifted its holdings in Roku by 7.4% during the 2nd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,563 shares of the company's stock valued at $313,000 after purchasing an additional 244 shares during the last quarter. Wealthfront Advisers LLC lifted its holdings in Roku by 18.0% during the 2nd quarter. Wealthfront Advisers LLC now owns 6,646 shares of the company's stock valued at $584,000 after purchasing an additional 1,012 shares during the last quarter. Brighton Jones LLC bought a new position in Roku during the 2nd quarter valued at about $404,000. RedJay Asset Management Inc. lifted its holdings in Roku by 10.0% during the 2nd quarter. RedJay Asset Management Inc. now owns 55,000 shares of the company's stock valued at $4,834,000 after purchasing an additional 5,000 shares during the last quarter. Finally, Focus Partners Advisor Solutions LLC bought a new position in shares of Roku in the second quarter worth about $256,000. 86.30% of the stock is owned by institutional investors.
Roku Company Profile
(
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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