Roku (NASDAQ:ROKU) Trading Down 1.5% – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) dropped 1.5% during mid-day trading on Wednesday . The stock traded as low as $124.55 and last traded at $125.68. Approximately 2,551,186 shares traded hands during trading, a decline of 21% from the average daily volume of 3,231,777 shares. The stock had previously closed at $127.63.

Analysts Set New Price Targets

Several research firms recently weighed in on ROKU. Jefferies Financial Group upped their price target on Roku from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, April 13th. Robert W. Baird lifted their price objective on Roku from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday. Evercore reissued an “outperform” rating and issued a $150.00 target price on shares of Roku in a report on Friday, February 13th. Oppenheimer increased their target price on Roku from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Benchmark lifted their price target on Roku from $130.00 to $160.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Twenty-one analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $143.42.

Roku Trading Down 1.5%

The company has a market capitalization of $18.53 billion, a PE ratio of 94.50 and a beta of 2.04. The business’s fifty day moving average is $104.78 and its two-hundred day moving average is $102.19.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the company earned ($0.19) EPS. The company’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, equities research analysts anticipate that Roku, Inc. will post 2.41 EPS for the current year.

Insider Buying and Selling

In other Roku news, insider Charles Collier sold 20,538 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $124.23, for a total value of $2,551,435.74. Following the completion of the transaction, the insider owned 7,700 shares of the company’s stock, valued at approximately $956,571. The trade was a 72.73% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, April 16th. The shares were sold at an average price of $110.19, for a total transaction of $2,754,750.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 613,038 shares of company stock worth $66,417,045 in the last three months. 13.45% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. AGF Management Ltd. purchased a new stake in Roku during the third quarter valued at $15,023,000. Convergence Investment Partners LLC purchased a new position in Roku in the third quarter worth about $2,492,000. Holocene Advisors LP grew its stake in shares of Roku by 352.3% during the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after purchasing an additional 1,285,585 shares during the period. Campbell & CO Investment Adviser LLC grew its stake in shares of Roku by 699.2% during the 3rd quarter. Campbell & CO Investment Adviser LLC now owns 23,248 shares of the company’s stock valued at $2,328,000 after purchasing an additional 20,339 shares during the period. Finally, Wealth Enhancement Advisory Services LLC increased its position in shares of Roku by 138.8% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 40,057 shares of the company’s stock valued at $4,079,000 after purchasing an additional 23,280 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.