Roku (NASDAQ:ROKU) Stock Price Down 1.7%

Shares of Roku, Inc. (NASDAQ:ROKU) fell 1.7% during trading on Friday . The stock traded as low as $58.77 and last traded at $58.94. 1,398,378 shares were traded during trading, a decline of 76% from the average session volume of 5,751,405 shares. The stock had previously closed at $59.95.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of recent research reports. Morgan Stanley dropped their price objective on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Jefferies Financial Group started coverage on Roku in a research note on Thursday. They set an “underperform” rating and a $50.00 price objective on the stock. Seaport Res Ptn upgraded Roku from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Wells Fargo & Company increased their price target on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Finally, Wedbush dropped their price objective on shares of Roku from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, Roku has an average rating of “Hold” and a consensus target price of $82.50.

Roku Price Performance

The firm’s 50-day moving average price is $62.07 and its two-hundred day moving average price is $78.20.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. The company had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. Roku’s revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.38) earnings per share. As a group, research analysts expect that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roku news, insider Charles Collier sold 4,182 shares of the business’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $65.00, for a total value of $271,830.00. Following the completion of the transaction, the insider now directly owns 8,474 shares in the company, valued at $550,810. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, insider Charles Collier sold 4,182 shares of Roku stock in a transaction on Friday, March 8th. The shares were sold at an average price of $65.00, for a total value of $271,830.00. Following the transaction, the insider now directly owns 8,474 shares of the company’s stock, valued at $550,810. The transaction 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 on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at $13,930,039.44. The disclosure for this sale can be found here. Insiders sold 54,751 shares of company stock worth $4,375,835 in the last three months. 13.63% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

A number of large investors have recently modified their holdings of the business. GAMMA Investing LLC acquired a new stake in Roku in the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Roku during the fourth quarter valued at $29,000. Federated Hermes Inc. acquired a new position in shares of Roku in the 3rd quarter valued at $37,000. Quarry LP raised its stake in Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after acquiring an additional 266 shares during the last quarter. Finally, Benjamin Edwards Inc. lifted its position in Roku by 43.5% during the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after acquiring an additional 187 shares during the period. Hedge funds and other institutional investors 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.