Shares of Roku, Inc. (NASDAQ:ROKU – Get Free Report) hit a new 52-week low during mid-day trading on Monday after Macquarie lowered their price target on the stock from $88.00 to $72.00. Macquarie currently has an outperform rating on the stock. Roku traded as low as $48.31 and last traded at $48.31, with a volume of 138637 shares traded. The stock had previously closed at $53.14.
Other equities analysts have also issued research reports about the company. Morgan Stanley reduced their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Wedbush restated an “outperform” rating and set a $75.00 target price on shares of Roku in a research report on Friday. Bank of America dropped their target price on Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday. Benchmark restated a “buy” rating and set a $105.00 target price on shares of Roku in a research report on Friday. Finally, Susquehanna dropped their target price on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Four investment analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $79.71.
Insider Activity
In other news, SVP Stephen H. Kay sold 3,322 shares of Roku stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the sale, the senior vice president now owns 82,036 shares of the company’s stock, valued at approximately $4,683,435.24. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Roku news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total value of $409,532.43. Following the sale, the insider now owns 15,654 shares of the company’s stock, valued at $892,747.62. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction that occurred on Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the sale, the senior vice president now directly owns 82,036 shares in the company, valued at approximately $4,683,435.24. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 27,075 shares of company stock valued at $1,556,005. 13.98% of the stock is currently owned by company insiders.
Institutional Trading of Roku
Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Swedbank AB purchased a new stake in Roku in the first quarter valued at approximately $1,180,000. Vanguard Personalized Indexing Management LLC increased its position in shares of Roku by 8.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock worth $1,043,000 after acquiring an additional 914 shares during the period. Norges Bank purchased a new stake in shares of Roku during the fourth quarter worth $90,386,000. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of Roku by 23.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after acquiring an additional 11,851 shares during the period. Finally, Garde Capital Inc. purchased a new stake in shares of Roku during the fourth quarter worth $105,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.
Roku Stock Down 2.8 %
The business has a 50-day moving average price of $58.43 and a two-hundred day moving average price of $65.01. The firm has a market cap of $7.45 billion, a PE ratio of -12.29 and a beta of 1.96.
Roku (NASDAQ:ROKU – Get Free Report) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.17%. The company had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. Roku’s revenue for the quarter was up 14.3% on a year-over-year basis. On average, equities research analysts predict that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.
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.