Roku (NASDAQ:ROKU) Stock Price Down 0.9% - Here's What Happened

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) traded down 0.9% during mid-day trading on Friday . The stock traded as low as $83.00 and last traded at $83.04. Approximately 973,246 shares changed hands during trading, a decline of 66% from the average daily volume of 2,854,744 shares. The stock had previously closed at $83.78.

Analyst Ratings Changes

A number of analysts have weighed in on the company. Baird R W upgraded Roku from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Citizens Jmp raised Roku to a "strong-buy" rating in a research report on Tuesday. Rosenblatt Securities boosted their target price on shares of Roku from $61.00 to $86.00 and gave the stock a "neutral" rating in a report on Thursday, October 31st. Moffett Nathanson lowered shares of Roku from a "neutral" rating to a "sell" rating and set a $55.00 price target for the company. in a research report on Friday, January 10th. Finally, UBS Group assumed coverage on shares of Roku in a research report on Friday, November 22nd. They issued a "neutral" rating and a $73.00 price objective on the stock. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $83.18.

Roku Stock Down 3.0 %

The stock has a 50-day moving average of $77.30 and a 200 day moving average of $71.29. The stock has a market cap of $11.80 billion, a PE ratio of -67.74 and a beta of 2.05.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate 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 business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the firm earned ($2.33) EPS. The business's revenue for the quarter was up 16.5% on a year-over-year basis. On average, equities analysts anticipate that Roku, Inc. will post -1.09 EPS for the current year.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the completion of the transaction, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at $2,193,100.32. The trade was a 48.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares in the company, 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. In the last three months, insiders have sold 73,095 shares of company stock valued at $5,726,218. Company insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently modified their holdings of ROKU. Holocene Advisors LP purchased a new position in Roku during the third quarter valued at $129,015,000. Westfield Capital Management Co. LP raised its position in shares of Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company's stock worth $114,646,000 after purchasing an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. lifted its stake in Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company's stock valued at $48,653,000 after buying an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP lifted its stake in Roku by 470.2% in the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company's stock valued at $40,359,000 after buying an additional 445,777 shares in the last quarter. Finally, FMR LLC boosted its holdings in Roku by 1.7% in the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company's stock worth $1,087,824,000 after buying an additional 244,793 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company's stock.

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.