Roku (NASDAQ:ROKU) Shares Down 4.6% – Time to Sell?

Roku, Inc. (NASDAQ:ROKU) shares were down 4.6% during mid-day trading on Monday . The stock traded as low as $67.50 and last traded at $69.18. Approximately 871,632 shares were traded during mid-day trading, a decline of 76% from the average daily volume of 3,701,781 shares. The stock had previously closed at $72.49.

Wall Street Analyst Weigh In

A number of research analysts have commented on the stock. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Compass Point started coverage on shares of Roku in a research note on Sunday, March 23rd. They issued a “buy” rating for the company. Pivotal Research raised Roku from a “hold” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $125.00 in a research report on Friday, February 14th. Jefferies Financial Group upgraded Roku from an “underperform” rating to a “hold” rating and upped their price target for the stock from $55.00 to $100.00 in a report on Thursday, February 20th. Finally, Wells Fargo & Company upgraded Roku from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $74.00 to $129.00 in a research note on Friday, February 14th. One analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.55.

Roku Price Performance

The company has a market cap of $10.37 billion, a PE ratio of -79.54 and a beta of 2.12. The stock has a 50 day simple moving average of $81.10 and a two-hundred day simple moving average of $77.72.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. As a group, equities analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,116,936.26. This represents a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 68,843 shares in the company, valued at approximately $5,163,225. This trade represents a 1.43 % decrease in their ownership of the stock. 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 ninety days. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently added to or reduced their stakes in ROKU. Farther Finance Advisors LLC lifted its holdings in shares of Roku by 23.9% in the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after buying an additional 121 shares during the period. United Advisor Group LLC lifted its holdings in Roku by 0.9% in the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after acquiring an additional 130 shares during the period. Cerity Partners LLC boosted its position in shares of Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock worth $1,984,000 after purchasing an additional 145 shares in the last quarter. Richard W. Paul & Associates LLC grew its stake in shares of Roku by 1.1% during the 4th quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock worth $1,189,000 after purchasing an additional 177 shares during the period. Finally, CIBC Asset Management Inc increased its holdings in shares of Roku by 5.2% in the 4th quarter. CIBC Asset Management Inc now owns 3,859 shares of the company’s stock valued at $287,000 after purchasing an additional 191 shares in the last quarter. 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.