Roku (NASDAQ:ROKU) Stock Price Down 0.2% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s stock price was down 0.2% during mid-day trading on Monday . The company traded as low as $68.52 and last traded at $69.09. Approximately 695,984 shares changed hands during trading, a decline of 84% from the average daily volume of 4,406,974 shares. The stock had previously closed at $69.20.

Analysts Set New Price Targets

Several research analysts recently commented on ROKU shares. Macquarie restated an “outperform” rating and issued a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Wells Fargo & Company raised their target price on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Morgan Stanley upped their price target on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Citigroup raised their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Wedbush upped their target price on Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $84.14.

Roku Stock Performance

The stock has a market cap of $9.91 billion, a P/E ratio of -57.57 and a beta of 2.07. The firm has a 50 day simple moving average of $74.45 and a two-hundred day simple moving average of $65.13.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the firm posted ($2.33) earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities research analysts predict that Roku, Inc. will post -1.1 EPS for the current year.

Insider Activity

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This trade represents a 4.20 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 90,240 shares of company stock worth $6,729,582 over the last 90 days. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently bought and sold shares of the business. Raelipskie Partnership acquired a new position in shares of Roku during the 3rd quarter valued at about $32,000. Future Financial Wealth Managment LLC acquired a new position in Roku during the third quarter valued at approximately $43,000. GS Investments Inc. raised its position in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after buying an additional 375 shares during the last quarter. Finally, Cedar Wealth Management LLC bought a new stake in shares of Roku during the 2nd quarter worth $48,000. 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.