Roku (NASDAQ:ROKU) Trading Down 0.2% After Analyst Downgrade

Roku, Inc. (NASDAQ:ROKU) fell 0.2% during mid-day trading on Tuesday after Citigroup lowered their price target on the stock from $81.00 to $68.00. Citigroup currently has a neutral rating on the stock. Roku traded as low as $58.77 and last traded at $60.29. 1,092,025 shares were traded during mid-day trading, a decline of 71% from the average session volume of 3,748,124 shares. The stock had previously closed at $60.42.

ROKU has been the subject of a number of other research reports. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target for the company in a research note on Tuesday, March 4th. Jefferies Financial Group raised Roku from an “underperform” rating to a “hold” rating and raised their price target for the stock from $55.00 to $100.00 in a report on Thursday, February 20th. Pivotal Research reduced their price objective on Roku from $125.00 to $100.00 and set a “buy” rating for the company in a research note on Friday, May 2nd. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Finally, Compass Point initiated coverage on Roku in a report on Sunday, March 23rd. They set a “buy” rating for the company. One analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $87.93.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 1,000 shares of the business’s 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 transaction, the chief financial officer now directly owns 68,843 shares of the company’s stock, valued at approximately $5,163,225. The trade was a 1.43 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the sale, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This trade represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,111 shares of company stock worth $6,575,362 over the last quarter. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Entropy Technologies LP grew its stake in Roku by 264.4% during the 4th quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock valued at $1,898,000 after purchasing an additional 18,520 shares in the last quarter. Geode Capital Management LLC grew its holdings in Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after acquiring an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Roku by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after purchasing an additional 34,898 shares during the last quarter. Achmea Investment Management B.V. raised its stake in shares of Roku by 146.4% in the 4th quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock valued at $756,000 after purchasing an additional 6,042 shares in the last quarter. Finally, Allstate Corp bought a new position in shares of Roku during the fourth quarter worth about $275,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Stock Down 0.7 %

The firm has a market capitalization of $8.74 billion, a price-to-earnings ratio of -67.29 and a beta of 2.06. The stock has a 50 day moving average of $67.26 and a 200 day moving average of $74.80.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the business earned ($0.35) EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. Analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Roku Company Profile

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.