Roku (NASDAQ:ROKU) Trading Down 1.6% on Analyst Downgrade

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) fell 1.6% on Wednesday after UBS Group lowered their price target on the stock from $90.00 to $72.00. UBS Group currently has a neutral rating on the stock. Roku traded as low as $57.25 and last traded at $58.42. 592,384 shares changed hands during trading, a decline of 84% from the average session volume of 3,791,122 shares. The stock had previously closed at $59.39.

A number of other equities research analysts have also issued reports on ROKU. Needham & Company LLC restated a "buy" rating and issued a $88.50 target price on shares of Roku in a research note on Monday. Jefferies Financial Group upgraded Roku from an "underperform" rating to a "hold" rating and lifted their target price for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. JMP Securities upped their price target on Roku from $95.00 to $115.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. 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 report on Monday, April 7th. Finally, FBN Securities started coverage on shares of Roku in a research note on Friday, March 28th. They set an "outperform" rating and a $93.00 target price for the company. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, Roku has a consensus rating of "Moderate Buy" and a consensus price target of $94.11.

Insider Activity

In related news, CAO Matthew C. Banks sold 1,906 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares in the company, valued at approximately $583,092.16. This represents a 20.80 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now directly owns 68,843 shares in the company, valued at approximately $5,163,225. This trade represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 71,905 shares of company stock worth $6,560,876 over the last 90 days. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its position in Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 270 shares during the period. Vision Financial Markets LLC acquired a new stake in shares of Roku during the fourth quarter worth approximately $30,000. Princeton Global Asset Management LLC purchased a new position in Roku during the first quarter valued at approximately $35,000. Game Plan Financial Advisors LLC acquired a new position in Roku in the 4th quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd lifted its position in Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock worth $37,000 after buying an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company's stock.

Roku Trading Up 0.1 %

The firm has a market capitalization of $8.53 billion, a PE ratio of -65.69 and a beta of 2.17. The firm's fifty day moving average price is $74.07 and its 200 day moving average price is $76.02.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, research analysts expect that Roku, Inc. will post -0.3 EPS for the current year.

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.