Roku (NASDAQ:ROKU) Shares Down 0.2% Following Analyst Downgrade

Roku, Inc. (NASDAQ:ROKU - Get Free Report) fell 0.2% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $81.00 to $68.00. Citigroup currently has a neutral rating on the stock. Roku traded as low as $58.77 and last traded at $60.29. 1,092,025 shares traded hands during mid-day trading, a decline of 71% from the average session volume of 3,748,124 shares. The stock had previously closed at $60.42.

ROKU has been the topic of several other research reports. Benchmark reaffirmed a "buy" rating and set a $130.00 price target on shares of Roku in a research report on Friday, May 2nd. Wedbush reduced their target price on Roku from $125.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, April 28th. UBS Group reduced their price target on shares of Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. FBN Securities started coverage on shares of Roku in a research report on Friday, March 28th. They issued an "outperform" rating and a $93.00 price objective on the stock. Finally, Compass Point started coverage on shares of Roku in a report on Sunday, March 23rd. They set a "buy" rating on the stock. One 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 assigned a strong buy rating to the stock. According to MarketBeat.com, Roku has an average rating of "Moderate Buy" and a consensus price target of $87.93.

Insider Transactions at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the transaction, the chief accounting officer now owns 7,256 shares in the company, valued at approximately $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now directly owns 68,843 shares of the company's stock, valued at $5,163,225. This represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,111 shares of company stock valued at $6,575,362 over the last three months. Corporate insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Large investors have recently added to or reduced their stakes in the company. FMR LLC increased its stake in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares during the period. Marshall Wace LLP lifted its position in shares of Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after purchasing an additional 2,030,036 shares in the last quarter. Cadian Capital Management LP bought a new position in Roku in the fourth quarter valued at about $87,632,000. Jacobs Levy Equity Management Inc. raised its stake 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 buying an additional 1,082,548 shares during the last quarter. Finally, Two Sigma Investments LP lifted its stake in Roku by 149.8% in the fourth quarter. Two Sigma Investments LP now owns 1,210,879 shares of the company's stock valued at $90,017,000 after buying an additional 726,077 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Stock Up 3.6 %

The stock has a market cap of $9.06 billion, a price-to-earnings ratio of -69.43 and a beta of 2.06. The stock's fifty day moving average is $67.26 and its 200-day moving average is $74.80.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm had revenue of $1.02 billion for the quarter, compared to analyst estimates of $1.01 billion. During the same period last year, the firm earned ($0.35) EPS. The business's quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

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.