Roku (NASDAQ:ROKU) Stock Price Down 0.5% - Here's What Happened

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s share price fell 0.5% during trading on Tuesday . The company traded as low as $76.10 and last traded at $76.76. 606,316 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 4,420,301 shares. The stock had previously closed at $77.12.

Analysts Set New Price Targets

Several research firms have weighed in on ROKU. Guggenheim raised shares of Roku from a "neutral" rating to a "buy" rating and set a $75.00 price target for the company in a research note on Friday, August 23rd. Citigroup increased their price target on Roku from $60.00 to $77.00 and gave the company a "neutral" rating in a research note on Wednesday, September 25th. Bank of America lifted their price target on shares of Roku from $75.00 to $90.00 and gave the company a "buy" rating in a research note on Monday, September 30th. Wolfe Research upgraded shares of 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. Finally, Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price target on shares of Roku in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $83.95.

Roku Trading Down 0.6 %

The company has a market cap of $11.13 billion, a P/E ratio of -63.97 and a beta of 2.07. The company has a 50 day moving average price of $73.47 and a 200-day moving average price of $64.19.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion for the quarter, compared to analysts' expectations of $1.02 billion. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period in the prior year, the business earned ($2.33) EPS. Equities analysts expect that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the company's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,776 shares of company stock valued at $5,267,305. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

Hedge funds have recently bought and sold shares of the stock. EverSource Wealth Advisors LLC boosted its stake in 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 purchasing an additional 375 shares during the period. Future Financial Wealth Managment LLC purchased a new position in shares of Roku during the third quarter valued at approximately $43,000. GS Investments Inc. increased its stake in shares of Roku by 33.4% during 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. Cedar Wealth Management LLC acquired a new position in Roku in the second quarter valued at $48,000. Finally, Natixis acquired a new stake in Roku during the 1st quarter valued at approximately $53,000. Institutional investors and hedge funds 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.

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