Roku (NASDAQ:ROKU) Trading Down 0.9% - Here's Why

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price dropped 0.9% during mid-day trading on Thursday . The company traded as low as $91.02 and last traded at $91.59. Approximately 1,001,351 shares changed hands during trading, a decline of 73% from the average daily volume of 3,696,046 shares. The stock had previously closed at $92.41.

Analysts Set New Price Targets

Several brokerages have weighed in on ROKU. Citigroup lifted their price target on shares of Roku from $70.00 to $103.00 and gave the company a "neutral" rating in a report on Thursday, February 20th. UBS Group lifted their target price on shares of Roku from $73.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Morgan Stanley upped their target price on shares of Roku from $60.00 to $65.00 and gave the stock an "underweight" rating in a report on Tuesday, October 29th. JMP Securities boosted their price objective on Roku from $95.00 to $115.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Finally, Loop Capital boosted their price target on Roku from $70.00 to $80.00 and gave the stock a "hold" rating in a report on Monday, December 9th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $96.00.

Roku Trading Down 6.0 %

The firm has a 50-day simple moving average of $81.83 and a 200-day simple moving average of $75.55. The firm has a market cap of $12.52 billion, a P/E ratio of -96.36 and a beta of 2.05.

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

Insider Transactions at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the sale, the chief financial officer now directly owns 63,555 shares in the company, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,193,100.32. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 109,421 shares of company stock valued at $9,660,786 in the last 90 days. Insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

Hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC grew its position in Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Marshall Wace LLP grew its holdings in shares of Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after buying an additional 2,030,036 shares during the last quarter. Holocene Advisors LP purchased a new stake in shares of Roku during the third quarter valued at $129,015,000. Cadian Capital Management LP acquired a new position in shares of Roku in the 4th quarter valued at $87,632,000. Finally, Jacobs Levy Equity Management Inc. raised its stake in Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after acquiring an additional 1,082,548 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.