Shares of Roku, Inc. (NASDAQ:ROKU – Get Free Report) gapped down before the market opened on Friday after Pivotal Research lowered their price target on the stock from $85.00 to $75.00. The stock had previously closed at $94.50, but opened at $76.97. Pivotal Research currently has a hold rating on the stock. Roku shares last traded at $74.50, with a volume of 9,536,843 shares changing hands.
ROKU has been the topic of a number of other research reports. Oppenheimer cut shares of Roku from an “outperform” rating to a “market perform” rating in a research note on Friday. Seaport Res Ptn cut shares of Roku from a “neutral” rating to a “sell” rating in a research note on Monday, December 18th. Susquehanna boosted their price target on shares of Roku from $95.00 to $100.00 and gave the stock a “positive” rating in a research note on Thursday, November 2nd. Wedbush reiterated an “outperform” rating and issued a $120.00 price target on shares of Roku in a research note on Friday, February 9th. Finally, Moffett Nathanson cut shares of Roku from a “market perform” rating to a “sell” rating and boosted their price target for the stock from $64.00 to $66.00 in a research note on Friday, December 15th. Four investment analysts have rated the stock with a sell rating, thirteen have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $85.61.
Insider Activity at Roku
In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Wednesday, December 13th. The shares were sold at an average price of $99.69, for a total value of $2,492,250.00. Following the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $14,078,321.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Mustafa Ozgen sold 33,684 shares of the company’s stock in a transaction that occurred on Thursday, December 14th. The shares were sold at an average price of $103.90, for a total value of $3,499,767.60. Following the completion of the sale, the insider now owns 2,418 shares of the company’s stock, valued at approximately $251,230.20. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 13th. The stock was sold at an average price of $99.69, for a total transaction of $2,492,250.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $14,078,321.49. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,095 shares of company stock worth $10,760,420. Insiders own 13.63% of the company’s stock.
Institutional Investors Weigh In On Roku
Institutional investors have recently bought and sold shares of the company. Harbour Investments Inc. raised its holdings in shares of Roku by 3.3% during the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after purchasing an additional 113 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in Roku by 0.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after acquiring an additional 117 shares during the last quarter. The Manufacturers Life Insurance Company boosted its position in Roku by 0.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 21,645 shares of the company’s stock worth $1,987,000 after acquiring an additional 144 shares during the last quarter. Brighton Jones LLC boosted its holdings in Roku by 8.6% in the 1st quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock valued at $235,000 after purchasing an additional 148 shares during the last quarter. Finally, Parallel Advisors LLC boosted its holdings in Roku by 14.8% in the 2nd quarter. Parallel Advisors LLC now owns 1,163 shares of the company’s stock valued at $74,000 after purchasing an additional 150 shares during the last quarter. 69.21% of the stock is currently owned by institutional investors and hedge funds.
Roku Trading Down 22.8 %
The firm’s fifty day simple moving average is $91.81 and its two-hundred day simple moving average is $84.03. The company has a market capitalization of $10.40 billion, a price-to-earnings ratio of -12.47 and a beta of 1.80.
Roku (NASDAQ:ROKU – Get Free Report) last announced its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.10. Roku had a negative net margin of 25.79% and a negative return on equity of 34.61%. The firm had revenue of $984.40 million for the quarter, compared to the consensus estimate of $967.72 million. During the same period in the prior year, the firm earned ($1.70) EPS. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, analysts forecast that Roku, Inc. will post -5.01 EPS for the current fiscal year.
About Roku
Roku, Inc, together with its subsidiaries, operates a TV streaming platform. 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 company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.