Roku (NASDAQ:ROKU) Stock Price Down 2.1% - What's Next?

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) dropped 2.1% on Friday . The stock traded as low as $74.29 and last traded at $74.42. Approximately 584,102 shares changed hands during mid-day trading, a decline of 84% from the average daily volume of 3,673,171 shares. The stock had previously closed at $76.05.

Wall Street Analyst Weigh In

Several brokerages have recently commented on ROKU. Citizens Jmp upgraded Roku to a "strong-buy" rating in a research note on Tuesday, January 21st. Jefferies Financial Group upgraded shares of Roku from an "underperform" rating to a "hold" rating and boosted their price target for the company from $55.00 to $100.00 in a report on Thursday, February 20th. Wedbush reaffirmed an "outperform" rating and issued a $100.00 price target on shares of Roku in a research report on Monday, February 10th. Loop Capital lifted their price objective on shares of Roku from $70.00 to $80.00 and gave the company a "hold" rating in a report on Monday, December 9th. Finally, Wells Fargo & Company upgraded Roku from an "equal weight" rating to an "overweight" rating and upped their target price for the stock from $74.00 to $129.00 in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have given a buy rating and three have assigned a strong buy rating to the stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $96.55.

Roku Trading Down 2.8 %

The stock has a 50-day simple moving average of $81.10 and a 200 day simple moving average of $77.72. The company has a market cap of $10.28 billion, a price-to-earnings ratio of -79.15 and a beta of 2.12.

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Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping 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 firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, research analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the transaction, the chief financial officer now owns 63,555 shares of the company's stock, valued at approximately $4,905,174.90. The trade was a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,908 shares of company stock valued at $8,633,436 in the last ninety days. Insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

A number of large investors have recently added to or reduced their stakes in the stock. Farther Finance Advisors LLC increased its stake in shares of Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company's stock worth $47,000 after purchasing an additional 121 shares in the last quarter. United Advisor Group LLC boosted its holdings in Roku by 0.9% in the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company's stock worth $1,073,000 after buying an additional 130 shares during the last quarter. Cerity Partners LLC increased its stake in Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company's stock worth $1,984,000 after buying an additional 145 shares in the last quarter. Richard W. Paul & Associates LLC raised its holdings in shares of Roku by 1.1% during the fourth quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company's stock valued at $1,189,000 after acquiring an additional 177 shares during the last quarter. Finally, CIBC Asset Management Inc lifted its position in shares of Roku by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 3,859 shares of the company's stock valued at $287,000 after acquiring an additional 191 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.