Roku (NASDAQ:ROKU) Shares Down 1%

Roku, Inc. (NASDAQ:ROKU)’s stock price traded down 1% during trading on Tuesday . The stock traded as low as $61.22 and last traded at $61.84. 682,375 shares traded hands during mid-day trading, a decline of 86% from the average session volume of 4,954,636 shares. The stock had previously closed at $62.47.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the company. Susquehanna cut their price objective on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Wedbush reissued an “outperform” rating and issued a $75.00 price objective on shares of Roku in a research report on Thursday, June 27th. Wells Fargo & Company raised their target price on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Citigroup lowered their target price on Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday, April 30th. Finally, Seaport Res Ptn upgraded Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $82.50.

Roku Price Performance

The stock has a fifty day moving average price of $58.02 and a two-hundred day moving average price of $70.06. The company has a market cap of $8.85 billion, a P/E ratio of -15.50 and a beta of 1.96.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($1.38) earnings per share. As a group, analysts forecast that Roku, Inc. will post -1.94 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, SVP Stephen H. Kay sold 3,322 shares of Roku stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the transaction, the senior vice president now owns 82,036 shares in the company, valued at $4,683,435.24. The transaction was disclosed in a document filed with the SEC, which is available at this link. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the sale, the senior vice president now directly owns 82,036 shares in the company, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders have sold a total of 23,691 shares of company stock valued at $1,334,455 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Large investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new position in shares of Roku in the fourth quarter worth $27,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Roku in the fourth quarter worth $29,000. Federated Hermes Inc. acquired a new position in Roku during the third quarter worth $37,000. Quarry LP increased its position in Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after buying an additional 266 shares during the last quarter. Finally, Benjamin Edwards Inc. increased its position in Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after buying an additional 187 shares during the last quarter. 86.30% of the stock is 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.