Roku (NASDAQ:ROKU) Trading Down 1.2% - Here's What Happened

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) were down 1.2% during mid-day trading on Tuesday . The stock traded as low as $80.90 and last traded at $81.22. Approximately 2,210,407 shares traded hands during trading, a decline of 43% from the average daily volume of 3,845,175 shares. The stock had previously closed at $82.17.

Analysts Set New Price Targets

A number of equities research analysts recently commented on ROKU shares. Pivotal Research decreased their target price on shares of Roku from $125.00 to $100.00 and set a "buy" rating for the company in a research report on Friday, May 2nd. UBS Group dropped their target price on Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research report on Tuesday, April 15th. Compass Point initiated coverage on shares of Roku in a report on Sunday, March 23rd. They set a "buy" rating on the stock. Wells Fargo & Company dropped their target price on shares of Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Finally, Benchmark reiterated a "buy" rating and set a $130.00 price objective on shares of Roku in a research report on Friday, May 2nd. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $89.24.

Roku Stock Down 2.5%

The business's fifty day moving average price is $67.99 and its 200 day moving average price is $74.97. The firm has a market capitalization of $11.69 billion, a PE ratio of -90.00 and a beta of 2.09.

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

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the firm's stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the transaction, the chief executive officer now directly owns 6,243 shares of the company's stock, valued at $468,225. This trade represents a 42.42% 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 stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the completion of the sale, the chief accounting officer now owns 8,555 shares of the company's stock, valued at approximately $624,343.90. This trade represents a 6.85% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 64,737 shares of company stock valued at $4,987,114. Company insiders own 13.98% of the company's stock.

Institutional Investors Weigh In On Roku

A number of large investors have recently added to or reduced their stakes in ROKU. Garde Capital Inc. purchased a new stake in shares of Roku during the first quarter worth about $25,000. Banque Transatlantique SA acquired a new stake in shares of Roku in the 1st quarter valued at about $28,000. Vision Financial Markets LLC bought a new position in shares of Roku during the fourth quarter worth about $30,000. Beaird Harris Wealth Management LLC bought a new stake in Roku in the first quarter valued at about $30,000. Finally, Golden State Wealth Management LLC raised its stake 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 buying an additional 247 shares in the last quarter. 86.30% of the stock is 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.

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