Roku (NASDAQ:ROKU) Shares Down 3.3% – Here’s Why

by · The Markets Daily

Roku, Inc. (NASDAQ:ROKU – Get Free Report) dropped 3.3% during mid-day trading on Wednesday . The stock traded as low as $86.62 and last traded at $87.89. Approximately 3,504,461 shares traded hands during mid-day trading, an increase of 9% from the average daily volume of 3,203,907 shares. The stock had previously closed at $90.91.

Roku News Roundup

Here are the key news stories impacting Roku this week:

Analyst Upgrades and Downgrades

Several analysts have issued reports on ROKU shares. Raymond James Financial restated a “market perform” rating on shares of Roku in a report on Friday, October 31st. Susquehanna restated a “positive” rating and set a $130.00 price target on shares of Roku in a report on Friday, October 31st. UBS Group raised their price objective on shares of Roku from $95.00 to $103.00 and gave the stock a “neutral” rating in a research note on Monday, November 3rd. Morgan Stanley set a $135.00 target price on shares of Roku and gave the company an “overweight” rating in a research note on Tuesday, December 16th. Finally, Pivotal Research increased their target price on Roku from $120.00 to $135.00 and gave the company a “buy” rating in a report on Monday, November 3rd. Twenty-three equities research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and an average target price of $118.72.

View Our Latest Analysis on Roku

Roku Stock Down 3.3%

The business has a 50-day simple moving average of $104.48 and a 200-day simple moving average of $99.07. The stock has a market cap of $12.99 billion, a P/E ratio of -439.43 and a beta of 1.99.

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 14,361 shares of the company’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $94.99, for a total transaction of $1,364,151.39. Following the completion of the transaction, the insider directly owned 200 shares in the company, valued at $18,998. This represents a 98.63% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 75,000 shares of the stock in a transaction on Monday, January 12th. The shares were sold at an average price of $109.61, for a total transaction of $8,220,750.00. The SEC filing for this sale provides additional information. Insiders have sold 184,790 shares of company stock worth $19,685,259 in the last ninety days. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

Institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. boosted its holdings in shares of Roku by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock worth $1,301,557,000 after acquiring an additional 322,858 shares in the last quarter. Acadian Asset Management LLC raised its position in Roku by 41.2% in the 2nd quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock valued at $236,545,000 after purchasing an additional 785,864 shares during the last quarter. AQR Capital Management LLC boosted its stake in Roku by 275.5% in the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock worth $258,897,000 after purchasing an additional 1,897,407 shares in the last quarter. Geode Capital Management LLC boosted its stake in Roku by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after purchasing an additional 168,214 shares in the last quarter. Finally, Tableaux LLC bought a new stake in shares of Roku during the second quarter worth $1,746,000. 86.30% of the stock is currently owned by institutional investors.

About Roku

(Get Free Report)

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.

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