Roku (NASDAQ:ROKU) Stock Price Down 0.5% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares traded down 0.5% on Friday . The stock traded as low as $67.77 and last traded at $68.37. 655,577 shares changed hands during trading, a decline of 85% from the average session volume of 4,407,962 shares. The stock had previously closed at $68.68.

Analysts Set New Price Targets

ROKU has been the subject of several research reports. JPMorgan Chase & Co. increased their price objective on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Wedbush upped their price objective on Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Friday, August 23rd. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Finally, Piper Sandler increased their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $84.14.

Roku Stock Up 1.1 %

The firm has a market cap of $10.08 billion, a PE ratio of -56.98 and a beta of 2.07. The stock has a 50 day moving average price of $74.56 and a two-hundred day moving average price of $65.00.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business’s revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the firm posted ($2.33) EPS. As a group, equities analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The trade was a 4.20 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Charles Collier sold 15,454 shares of Roku stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the sale, the insider now owns 200 shares in the company, valued at $15,000. This represents a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 90,240 shares of company stock valued at $6,729,582. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently modified their holdings of ROKU. Vanguard Group Inc. grew its stake in shares of Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares in the last quarter. Edgestream Partners L.P. grew its stake in shares of Roku by 14.2% in the first quarter. Edgestream Partners L.P. now owns 7,969 shares of the company’s stock valued at $519,000 after buying an additional 993 shares in the last quarter. UniSuper Management Pty Ltd grew its stake in shares of Roku by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,800 shares of the company’s stock valued at $117,000 after buying an additional 900 shares in the last quarter. CANADA LIFE ASSURANCE Co grew its stake in shares of Roku by 127.2% in the first quarter. CANADA LIFE ASSURANCE Co now owns 49,912 shares of the company’s stock valued at $3,255,000 after buying an additional 27,940 shares in the last quarter. Finally, Natixis acquired a new stake in shares of Roku in the first quarter valued at $53,000. 86.30% of the stock is owned by institutional investors and hedge funds.

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.