Roku (NASDAQ:ROKU) Shares Down 2.5% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares traded down 2.5% during mid-day trading on Monday . The stock traded as low as $79.18 and last traded at $80.72. 907,519 shares were traded during mid-day trading, a decline of 66% from the average session volume of 2,669,800 shares. The stock had previously closed at $82.76.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on ROKU shares. Wedbush reiterated an “outperform” rating and set a $100.00 price target on shares of Roku in a report on Wednesday, January 8th. Citizens Jmp upgraded Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Tuesday, January 7th. JMP Securities reaffirmed a “market outperform” rating and set a $95.00 price objective on shares of Roku in a research report on Monday. Finally, Jefferies Financial Group cut their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Friday, November 1st. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Trading Up 1.9 %

The stock’s fifty day moving average is $79.25 and its two-hundred day moving average is $72.42. The firm has a market cap of $11.86 billion, a P/E ratio of -68.04 and a beta of 2.05.

Insider Activity

In other news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now owns 7,264 shares in the company, valued at $518,940.16. This trade represents a 54.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,193,100.32. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 72,885 shares of company stock worth $5,712,912. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its holdings in Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the period. Raelipskie Partnership bought a new position in shares of Roku in the third quarter worth about $32,000. Game Plan Financial Advisors LLC purchased a new position in Roku during the fourth quarter valued at approximately $37,000. Future Financial Wealth Managment LLC purchased a new stake in Roku in the 3rd quarter worth $43,000. Finally, GS Investments Inc. boosted its stake in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the period. 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.