Roku (NASDAQ:ROKU) Trading Down 1.3% - What's Next?

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s share price dropped 1.3% on Monday . The stock traded as low as $92.02 and last traded at $92.08. Approximately 1,367,050 shares traded hands during mid-day trading, a decline of 64% from the average daily volume of 3,809,562 shares. The stock had previously closed at $93.29.

Analyst Ratings Changes

Several analysts have recently issued reports on ROKU shares. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Monday, April 7th. Piper Sandler lifted their target price on shares of Roku from $65.00 to $84.00 and gave the company a "neutral" rating in a research note on Thursday, July 10th. Citigroup restated a "neutral" rating and set a $84.00 price objective (up previously from $68.00) on shares of Roku in a report on Wednesday, June 18th. Pivotal Research reduced their price target on shares of Roku from $125.00 to $100.00 and set a "buy" rating on the stock in a research report on Friday, May 2nd. Finally, JPMorgan Chase & Co. increased their price objective on shares of Roku from $85.00 to $100.00 and gave the company an "overweight" rating in a report on Friday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, Roku presently has an average rating of "Moderate Buy" and an average target price of $93.92.

Roku Price Performance

The stock has a 50 day simple moving average of $79.82 and a two-hundred day simple moving average of $76.16. The company has a market cap of $13.38 billion, a PE ratio of -125.60 and a beta of 2.12.

Roku (NASDAQ:ROKU - Get Free Report) last posted 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. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. 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 previous year, the business earned ($0.35) EPS. The company's quarterly revenue was up 15.8% compared to the same quarter last year. As a group, equities analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, Director Mai Fyfield sold 914 shares of the stock in a transaction that occurred on Friday, June 6th. The shares were sold at an average price of $78.50, for a total value of $71,749.00. Following the sale, the director directly owned 4,374 shares in the company, valued at $343,359. This represents a 17.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 3,000 shares of the firm's stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total transaction of $270,600.00. Following the completion of the sale, the chief financial officer directly owned 76,132 shares in the company, valued at approximately $6,867,106.40. This trade represents a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 96,520 shares of company stock worth $7,898,294 over the last three months. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. FMR LLC increased its stake in shares of 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 buying an additional 4,613,570 shares during the period. Vanguard Group Inc. increased its stake in shares of Roku by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 12,503,595 shares of the company's stock valued at $880,753,000 after acquiring an additional 254,504 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Roku by 663.9% during the 4th 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 during the period. T. Rowe Price Investment Management Inc. boosted its stake 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 valued at $168,734,000 after buying an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC raised its position in shares of Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after acquiring an additional 56,820 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

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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