Roku (NASDAQ:ROKU) Shares Down 0.9%

Shares of Roku, Inc. (NASDAQ:ROKU) fell 0.9% during trading on Monday . The stock traded as low as $68.30 and last traded at $68.54. 1,101,456 shares changed hands during trading, a decline of 76% from the average session volume of 4,661,167 shares. The stock had previously closed at $69.14.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the stock. Rosenblatt Securities cut their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Macquarie cut their price target on 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 dropped their price objective on Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a report on Friday, August 2nd. Citigroup decreased their price objective on shares of Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a report on Tuesday, April 30th. Finally, Wedbush restated an “outperform” rating and set a $75.00 target price on shares of Roku in a report on Friday, August 2nd. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, Roku currently has a consensus rating of “Hold” and an average target price of $79.50.

Roku Price Performance

The firm has a market capitalization of $9.64 billion, a price-to-earnings ratio of -16.75 and a beta of 1.96. The business has a 50 day moving average of $59.68 and a 200 day moving average of $61.35.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate 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 business had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same period in the previous year, the business earned ($0.76) EPS. The firm’s revenue was up 14.3% on a year-over-year basis. On average, sell-side analysts forecast that Roku, Inc. will post -1.45 EPS for the current fiscal year.

Insider Activity

In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the business’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 transaction, the senior vice president now directly owns 91,905 shares in the company, valued at $5,108,998.95. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other news, Director Mai Fyfield sold 650 shares of Roku stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the sale, 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 SEC, which can be accessed through this link. Also, SVP Stephen H. Kay sold 12,124 shares of the company’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 owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 27,075 shares of company stock worth $1,556,005. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Large investors have recently modified their holdings of the business. Sumitomo Mitsui Trust Holdings Inc. raised its position in 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 buying an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Roku by 25.8% in the first 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. Norges Bank bought a new position in Roku in the 4th quarter valued at about $90,386,000. Quadrature Capital Ltd acquired a new stake in Roku during the 4th quarter worth approximately $35,856,000. Finally, Vanguard Group Inc. lifted its holdings in shares of Roku by 3.3% during the fourth quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after buying an additional 380,409 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.