Roku (NASDAQ:ROKU) Shares Down 0.2% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) fell 0.2% during trading on Monday . The company traded as low as $83.84 and last traded at $83.97. 1,098,094 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 4,430,691 shares. The stock had previously closed at $84.12.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on ROKU. Morgan Stanley boosted their target price on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th. Citigroup boosted their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. UBS Group assumed coverage on Roku in a research note on Friday, November 22nd. They issued a “neutral” rating and a $73.00 target price for the company. Finally, Wedbush reiterated an “outperform” rating and set a $100.00 target price (up previously from $85.00) on shares of Roku in a report on Friday, December 6th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $83.81.

Roku Stock Performance

The business has a 50 day moving average of $74.56 and a two-hundred day moving average of $66.49. The firm has a market capitalization of $12.00 billion, a price-to-earnings ratio of -68.18 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted ($2.33) earnings per share. On average, equities analysts predict that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Activity

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. This represents a 83.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Collier sold 15,454 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the transaction, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. This trade represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 88,550 shares of company stock valued at $6,621,873 over the last three months. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Raelipskie Partnership bought a new position in Roku in the third quarter valued at $32,000. EverSource Wealth Advisors LLC grew its stake in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC bought a new stake in shares of Roku in the third quarter worth about $43,000. GS Investments Inc. grew its stake in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new stake in shares of Roku in the second quarter worth about $48,000. Institutional investors own 86.30% of the company’s stock.

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.