Roku (NASDAQ:ROKU) Stock Price Down 1.2%

Roku, Inc. (NASDAQ:ROKU) shares were down 1.2% during mid-day trading on Thursday . The company traded as low as $59.66 and last traded at $61.08. Approximately 1,145,286 shares were traded during trading, a decline of 79% from the average daily volume of 5,562,169 shares. The stock had previously closed at $61.83.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on ROKU shares. Rosenblatt Securities restated a “neutral” rating and set a $89.00 target price on shares of Roku in a research report on Friday. Oppenheimer lowered shares of Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Wedbush lowered their target price on shares of Roku from $80.00 to $75.00 and set an “outperform” rating on the stock in a research report on Friday. Piper Sandler restated a “neutral” rating and set a $65.00 target price (down from $81.00) on shares of Roku in a research report on Friday. Finally, Morgan Stanley lowered their target price on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research report on Friday, April 5th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $83.90.

Roku Trading Down 10.3 %

The firm has a market cap of $8.09 billion, a price-to-earnings ratio of -14.12 and a beta of 1.66. The firm has a 50 day moving average price of $62.80 and a 200-day moving average price of $78.48.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.64) by $0.29. The business had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The business’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the previous year, the company posted ($1.38) EPS. As a group, equities analysts expect that Roku, Inc. will post -2.12 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, Director Jeffrey M. Blackburn purchased 8,000 shares of the business’s stock in a transaction dated Wednesday, March 13th. The stock was acquired at an average price of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now directly owns 8,000 shares of the company’s stock, valued at approximately $511,680. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director Jeffrey M. Blackburn bought 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, with a total value of $511,680.00. Following the purchase, the director now owns 8,000 shares of the company’s stock, valued at approximately $511,680. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock valued at $4,364,035 in the last 90 days. 13.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after purchasing an additional 380,409 shares during the last quarter. FMR LLC grew its holdings in Roku by 85.9% in the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after buying an additional 4,363,754 shares during the period. Sumitomo Mitsui Trust Holdings Inc. grew its holdings 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 period. Wellington Management Group LLP grew its holdings in Roku by 34.6% in the 3rd quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock valued at $179,516,000 after buying an additional 653,940 shares during the period. Finally, Norges Bank purchased a new stake in Roku in the 4th quarter valued at about $90,386,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.