Roku (NASDAQ:ROKU) Stock Price Down 6.1% – Here’s What Happened

by · The Cerbat Gem

Roku, Inc. (NASDAQ:ROKU – Get Free Report)’s share price dropped 6.1% during trading on Friday . The company traded as low as $53.24 and last traded at $56.59. Approximately 2,073,810 shares changed hands during mid-day trading, a decline of 44% from the average daily volume of 3,722,235 shares. The stock had previously closed at $60.26.

Analysts Set New Price Targets

A number of equities research analysts have recently commented on ROKU shares. Pivotal Research raised shares of Roku from a “hold” rating to a “buy” rating and upped their target price for the company from $65.00 to $125.00 in a report on Friday, February 14th. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective for the company in a research report on Tuesday, March 4th. FBN Securities began coverage on Roku in a research note on Friday, March 28th. They set an “outperform” rating and a $93.00 price target for the company. Wedbush reissued an “outperform” rating and issued a $100.00 price objective on shares of Roku in a research note on Monday, February 10th. Finally, Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and raised their target price for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average price target of $96.55.

View Our Latest Report on ROKU

Roku Stock Performance

The firm has a market capitalization of $8.07 billion, a PE ratio of -62.11 and a beta of 2.17. The firm’s 50-day moving average is $80.17 and its 200 day moving average is $77.50.

Roku (NASDAQ:ROKU – Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. As a group, equities analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the business’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 97,905 shares of company stock valued at $8,632,306. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds have recently modified their holdings of ROKU. FMR LLC raised its stake in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Vanguard Group Inc. boosted its holdings in Roku by 1.5% in the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock valued at $910,597,000 after acquiring an additional 185,676 shares during the last quarter. Marshall Wace LLP grew its position in Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after acquiring an additional 2,030,036 shares during the period. T. Rowe Price Investment Management Inc. increased its stake in Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after acquiring an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC raised its holdings in shares of Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after purchasing an additional 56,820 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

About Roku

(Get Free Report)

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.

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