Roku (NASDAQ:ROKU) Trading Down 2.3%

Roku, Inc. (NASDAQ:ROKU)’s stock price traded down 2.3% on Monday . The company traded as low as $53.73 and last traded at $53.82. 690,664 shares were traded during trading, a decline of 85% from the average session volume of 4,740,000 shares. The stock had previously closed at $55.10.

Analysts Set New Price Targets

A number of analysts have weighed in on the stock. Macquarie reduced their price objective on shares of Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Bank of America reduced their price target on shares of Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $105.00 price target on shares of Roku in a research note on Friday, August 2nd. Wells Fargo & Company lifted their price target on shares of Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. Finally, JPMorgan Chase & Co. cut their target price on shares of Roku from $90.00 to $80.00 and set an “overweight” rating for the company in a research report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, Roku presently has an average rating of “Hold” and an average target price of $79.71.

Roku Price Performance

The firm has a market cap of $8.13 billion, a P/E ratio of -14.07 and a beta of 1.96. The stock’s 50-day simple moving average is $58.00 and its two-hundred day simple moving average is $63.33.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same period in the prior year, the business posted ($0.76) earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts expect that Roku, Inc. will post -1.45 earnings per share for the current year.

Insider Buying and Selling

In related news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, SVP Stephen H. Kay sold 3,322 shares of the stock in a transaction dated 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 of the company’s stock, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders sold a total of 27,075 shares of company stock valued at $1,556,005 over the last three months. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Several hedge funds have recently modified their holdings of the company. ARK Investment Management LLC lifted its position in shares of Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares during the last quarter. Vanguard Group Inc. raised its position in shares of Roku by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its position in shares of Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. raised its position in shares of Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after purchasing an additional 1,455,408 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Roku in the 4th quarter valued at approximately $90,386,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.