Roku (NASDAQ:ROKU) Shares Down 0% – Should You Sell?

Roku, Inc. (NASDAQ:ROKU) dropped 0% on Thursday . The company traded as low as $75.51 and last traded at $77.84. Approximately 684,817 shares changed hands during trading, a decline of 81% from the average daily volume of 3,675,501 shares. The stock had previously closed at $77.87.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently issued reports on ROKU shares. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a research report on Tuesday, March 4th. Loop Capital increased their target price on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and increased their price objective for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $86.00 price objective on shares of Roku in a report on Thursday, February 13th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $96.71.

Roku Trading Down 1.5 %

The business’s 50-day simple moving average is $81.15 and its 200-day simple moving average is $77.55. The company has a market capitalization of $11.20 billion, a PE ratio of -86.22 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. Sell-side analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,116,936.26. This represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at $583,092.16. The trade was a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 97,908 shares of company stock valued at $8,633,436 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently modified their holdings of the business. Entropy Technologies LP grew its holdings in Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock valued at $1,898,000 after purchasing an additional 18,520 shares during the period. Holocene Advisors LP purchased a new position in shares of Roku during the 3rd quarter valued at approximately $129,015,000. National Bank of Canada FI grew its stake in Roku by 11,626.3% in the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after acquiring an additional 149,514 shares during the period. Charles Schwab Investment Management Inc. increased its holdings in Roku by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after acquiring an additional 34,898 shares in the last quarter. Finally, Achmea Investment Management B.V. raised its position in shares of Roku by 146.4% during the 4th quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock worth $756,000 after purchasing an additional 6,042 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.