Roku (NASDAQ:ROKU) Shares Down 1.8%

Roku, Inc. (NASDAQ:ROKU)’s stock price dropped 1.8% on Tuesday . The company traded as low as $57.60 and last traded at $57.84. Approximately 677,518 shares changed hands during mid-day trading, a decline of 86% from the average daily volume of 4,741,674 shares. The stock had previously closed at $58.90.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Citigroup lowered their price objective on shares of Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Rosenblatt Securities reiterated a “neutral” rating and set a $89.00 price target on shares of Roku in a research report on Friday, April 26th. Needham & Company LLC restated a “buy” rating and issued a $100.00 price objective on shares of Roku in a report on Thursday, June 20th. Benchmark reiterated a “buy” rating and issued a $105.00 price target on shares of Roku in a research report on Wednesday, July 10th. Finally, Wedbush restated an “outperform” rating and set a $75.00 price objective on shares of Roku in a research report on Thursday, July 25th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $82.89.

Roku Price Performance

The firm has a market cap of $8.29 billion, a PE ratio of -14.50 and a beta of 1.96. The business has a fifty day moving average price of $58.54 and a two-hundred day moving average price of $65.83.

Insiders Place Their Bets

In other news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $57.88, for a total value of $37,622.00. Following the transaction, the director now owns 3,259 shares in the company, valued at approximately $188,630.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Roku news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $57.88, for a total value of $37,622.00. Following the transaction, the director now directly owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 3,590 shares of the stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the completion of the transaction, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The disclosure for this sale can be found here. In the last ninety days, insiders sold 27,281 shares of company stock worth $1,567,805. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Large investors have recently made changes to their positions in the stock. GAMMA Investing LLC acquired a new stake in Roku in the 4th quarter worth approximately $27,000. Quarry LP lifted its stake in shares of Roku by 160.2% in 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. Benjamin Edwards Inc. boosted its holdings in shares of Roku by 43.5% during the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after buying an additional 187 shares during the period. Geneos Wealth Management Inc. grew its stake in Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after buying an additional 610 shares during the last quarter. Finally, Natixis bought a new position in Roku in the 1st quarter worth $53,000. 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.