Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares traded down 1.5% on Tuesday . The stock traded as low as $81.63 and last traded at $82.23. 620,950 shares traded hands during trading, a decline of 86% from the average session volume of 4,378,192 shares. The stock had previously closed at $83.44.
Wall Street Analysts Forecast Growth
ROKU has been the topic of a number of research reports. Piper Sandler raised their price target on shares of Roku from $60.00 to $75.00 and gave the company a "neutral" rating in a research note on Thursday, October 31st. Loop Capital raised their target price on Roku from $70.00 to $80.00 and gave the company a "hold" rating in a research report on Monday, December 9th. Wolfe Research raised Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price target on the stock in a research note on Thursday, September 12th. Wedbush reissued an "outperform" rating and issued a $100.00 price objective (up from $85.00) on shares of Roku in a research note on Friday, December 6th. Finally, Bank of America raised their price objective on Roku from $75.00 to $90.00 and gave the company a "buy" rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $83.81.
Read Our Latest Research Report on ROKU
Roku Stock Performance
The stock has a market capitalization of $12.11 billion, a price-to-earnings ratio of -69.74 and a beta of 2.06. The business has a 50-day moving average of $75.14 and a 200-day moving average of $67.22.
Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping 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 firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the prior year, the business posted ($2.33) EPS. The business's revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts predict that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.
Insider Transactions at Roku
In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. This trade represents a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the company's stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $82.73, for a total value of $82,730.00. Following the sale, the chief financial officer now owns 64,555 shares in the company, valued at approximately $5,340,635.15. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,096 shares of company stock worth $5,661,223 over the last ninety days. Company insiders own 13.98% of the company's stock.
Hedge Funds Weigh In On Roku
A number of institutional investors and hedge funds have recently made changes to their positions in ROKU. Raelipskie Partnership purchased a new position in Roku in the third quarter valued at $32,000. Future Financial Wealth Managment LLC acquired a new position in shares of Roku during the 3rd quarter worth about $43,000. GS Investments Inc. increased its holdings in shares of Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company's stock valued at $44,000 after acquiring an additional 147 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company's stock worth $40,000 after acquiring an additional 375 shares in the last quarter. Finally, Cedar Wealth Management LLC purchased a new stake in Roku during the second quarter worth approximately $48,000. 86.30% of the stock is owned by institutional investors and hedge funds.
About Roku
(
Get Free Report)
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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