Roku (NASDAQ:ROKU) Stock Price Down 0.7% - What's Next?

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price fell 0.7% on Friday . The company traded as low as $60.43 and last traded at $60.91. 974,328 shares changed hands during mid-day trading, a decline of 74% from the average session volume of 3,761,353 shares. The stock had previously closed at $61.36.

Analyst Ratings Changes

A number of analysts recently issued reports on ROKU shares. FBN Securities started coverage on shares of Roku in a report on Friday, March 28th. They set an "outperform" rating and a $93.00 price objective for the company. Pivotal Research decreased their price target on shares of Roku from $125.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Citigroup dropped their price objective on Roku from $81.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Wedbush dropped their price objective on shares of Roku from $125.00 to $100.00 and set an "outperform" rating on the stock in a report on Monday, April 28th. Finally, Loop Capital lowered their price target on shares of Roku from $90.00 to $80.00 and set a "hold" rating on the stock in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Roku presently has an average rating of "Moderate Buy" and an average price target of $87.93.

Roku Trading Up 2.6%

The company has a 50-day simple moving average of $66.17 and a 200 day simple moving average of $74.55. The company has a market cap of $10.30 billion, a P/E ratio of -79.27 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. The company had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Roku's revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.35) earnings per share. On average, equities analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $100.40, for a total transaction of $2,510,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at approximately $2,664,415.20. This trade represents a 48.51% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 5,000 shares of the business's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the sale, the chief financial officer now directly owns 58,555 shares in the company, valued at approximately $5,878,922. The trade was a 7.87% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,111 shares of company stock worth $4,377,112 over the last quarter. Insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Hedge funds have recently modified their holdings of the stock. FMR LLC lifted its stake in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Vanguard Group Inc. lifted its position in Roku by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,503,595 shares of the company's stock valued at $880,753,000 after purchasing an additional 254,504 shares during the period. Marshall Wace LLP boosted its stake in shares of Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after buying an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its position in shares of Roku by 10.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock worth $168,734,000 after purchasing an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC increased its stake in Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after purchasing an additional 56,820 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.