Roku (NASDAQ:ROKU) Stock Price Down 1.1% - Here's Why

Roku, Inc. (NASDAQ:ROKU - Get Free Report) traded down 1.1% during mid-day trading on Monday . The stock traded as low as $57.01 and last traded at $57.79. 899,845 shares were traded during mid-day trading, a decline of 76% from the average session volume of 3,791,140 shares. The stock had previously closed at $58.46.

Analysts Set New Price Targets

A number of brokerages recently commented on ROKU. Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $70.00 price objective for the company in a research note on Tuesday, March 4th. JPMorgan Chase & Co. increased their price objective on shares of Roku from $92.00 to $115.00 and gave the stock an "overweight" rating in a report on Friday, February 14th. Wedbush reissued an "outperform" rating and set a $100.00 target price on shares of Roku in a research note on Monday, February 10th. Wells Fargo & Company upgraded shares of Roku from an "equal weight" rating to an "overweight" rating and raised their price target for the company from $74.00 to $129.00 in a research note on Friday, February 14th. Finally, Benchmark reiterated a "buy" rating and set a $130.00 price objective on shares of Roku in a research report on Monday. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus price target of $94.11.

Roku Stock Performance

The business's 50 day moving average is $74.07 and its 200 day moving average is $76.04. The stock has a market cap of $8.44 billion, a price-to-earnings ratio of -64.97 and a beta of 2.17.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results 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. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Research analysts expect that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity

In related news, CEO Anthony J. Wood sold 4,600 shares of the business's stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. The trade was a 42.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Collier sold 7,181 shares of the stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the transaction, the insider now owns 7,380 shares in the company, valued at approximately $577,485. This trade represents a 49.32 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 71,905 shares of company stock worth $6,560,876. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

Several hedge funds have recently added to or reduced their stakes in the business. FMR LLC boosted its position in shares of Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares during the period. Vanguard Group Inc. boosted its holdings in Roku by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock valued at $910,597,000 after purchasing an additional 185,676 shares during the period. Marshall Wace LLP grew its position in Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after purchasing an additional 2,030,036 shares during the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Roku by 10.5% during the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock worth $168,734,000 after purchasing an additional 215,841 shares during the period. Finally, Geode Capital Management LLC raised its position in shares of Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after buying an additional 56,820 shares during the last quarter. 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.

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