Roku (NASDAQ:ROKU) Trading Down 1.2% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) dropped 1.2% during trading on Friday . The company traded as low as $104.00 and last traded at $105.89. Approximately 2,332,128 shares traded hands during mid-day trading, a decline of 22% from the average daily volume of 2,976,121 shares. The stock had previously closed at $107.23.

Analysts Set New Price Targets

ROKU has been the topic of a number of research analyst reports. Needham & Company LLC reaffirmed a “buy” rating and issued a $110.00 target price on shares of Roku in a report on Wednesday, October 1st. Zacks Research downgraded Roku from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Jefferies Financial Group raised Roku from a “hold” rating to a “buy” rating and raised their price objective for the company from $100.00 to $135.00 in a research report on Thursday, December 11th. Guggenheim lifted their target price on Roku from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday, December 4th. Finally, Wells Fargo & Company restated an “overweight” rating on shares of Roku in a research note on Monday, January 5th. Twenty-two analysts have rated the stock with a Buy rating, five have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $118.79.

Roku Trading Down 1.2%

The business has a 50-day moving average price of $104.34 and a two-hundred day moving average price of $98.41. The stock has a market capitalization of $15.65 billion, a P/E ratio of -529.42 and a beta of 1.95.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.16 EPS for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. The company had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.Roku’s revenue was up 14.0% on a year-over-year basis. During the same quarter last year, the business earned ($0.06) earnings per share. On average, sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, CEO Anthony J. Wood sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $109.61, for a total value of $8,220,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles Collier sold 118,088 shares of the stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $115.00, for a total transaction of $13,580,120.00. Following the sale, the insider owned 200 shares in the company, valued at $23,000. This represents a 99.83% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 389,882 shares of company stock valued at $42,251,621 in the last 90 days. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors have recently modified their holdings of ROKU. West Tower Group LLC lifted its stake in Roku by 128.6% in the 2nd quarter. West Tower Group LLC now owns 8,000 shares of the company’s stock valued at $703,000 after purchasing an additional 4,500 shares during the last quarter. CWM LLC increased its holdings in shares of Roku by 345.4% during the third quarter. CWM LLC now owns 84,010 shares of the company’s stock worth $8,412,000 after buying an additional 65,150 shares in the last quarter. Accurate Wealth Management LLC bought a new position in shares of Roku in the 3rd quarter valued at $1,115,000. Highland Capital Management LLC lifted its stake in shares of Roku by 153.2% in the 2nd quarter. Highland Capital Management LLC now owns 65,770 shares of the company’s stock valued at $5,781,000 after acquiring an additional 39,797 shares during the last quarter. Finally, Monetta Financial Services Inc. boosted its holdings in shares of Roku by 50.0% during the 2nd quarter. Monetta Financial Services Inc. now owns 15,000 shares of the company’s stock valued at $1,318,000 after acquiring an additional 5,000 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.