Investors Sell Roku (ROKU) on Strength (ROKU)

Traders sold shares of Roku Inc (NASDAQ:ROKU) on strength during trading on Friday. $378.60 million flowed into the stock on the tick-up and $437.11 million flowed out of the stock on the tick-down, for a money net flow of $58.51 million out of the stock. Of all stocks tracked, Roku had the 0th highest net out-flow for the day. Roku traded up $0.73 for the day and closed at $58.05

A number of research analysts have weighed in on the company. Royal Bank of Canada restated a “hold” rating and issued a $48.00 price target on shares of Roku in a research note on Thursday. Oppenheimer upgraded Roku from a “market perform” rating to an “outperform” rating and set a $50.00 target price for the company in a research note on Tuesday, July 3rd. BidaskClub upgraded Roku from a “sell” rating to a “hold” rating in a research note on Wednesday, May 9th. Zacks Investment Research downgraded Roku from a “buy” rating to a “hold” rating in a research note on Wednesday, May 23rd. Finally, Citigroup lifted their target price on Roku from $40.00 to $50.00 and gave the stock a “neutral” rating in a research note on Thursday. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and one has issued a strong buy rating to the stock. Roku presently has a consensus rating of “Buy” and a consensus target price of $50.68.

The company has a market capitalization of $5.71 billion and a P/E ratio of -25.92.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, May 9th. The company reported ($0.07) earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.15) by $0.08. The business had revenue of $136.58 million during the quarter, compared to analysts’ expectations of $127.55 million. Roku had a negative return on equity of 151.74% and a negative net margin of 7.49%. The firm’s revenue for the quarter was up 36.5% compared to the same quarter last year. During the same period last year, the firm posted ($1.79) EPS. research analysts predict that Roku Inc will post -0.16 earnings per share for the current fiscal year.

In related news, CEO Anthony J. Wood sold 248,578 shares of Roku stock in a transaction that occurred on Friday, June 15th. The stock was sold at an average price of $43.73, for a total transaction of $10,870,315.94. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, SVP Stephen H. Kay sold 36,000 shares of Roku stock in a transaction that occurred on Friday, June 1st. The stock was sold at an average price of $36.63, for a total value of $1,318,680.00. The disclosure for this sale can be found here. Over the last three months, insiders have sold 922,216 shares of company stock valued at $41,217,758. 0.55% of the stock is currently owned by insiders.

A number of large investors have recently added to or reduced their stakes in the stock. BNP Paribas Arbitrage SA acquired a new position in Roku in the 1st quarter valued at $156,000. Stifel Financial Corp raised its holdings in Roku by 75.0% in the 1st quarter. Stifel Financial Corp now owns 9,050 shares of the company’s stock valued at $281,000 after acquiring an additional 3,880 shares in the last quarter. HarbourVest Partners LLC acquired a new position in Roku in the 1st quarter valued at $6,820,000. IFP Advisors Inc raised its holdings in Roku by 4,261.5% in the 1st quarter. IFP Advisors Inc now owns 11,340 shares of the company’s stock valued at $353,000 after acquiring an additional 11,080 shares in the last quarter. Finally, Raymond James & Associates acquired a new position in Roku in the 4th quarter valued at $1,676,000. 17.79% of the stock is owned by institutional investors and hedge funds.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.

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