Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares fell 2% on Monday . The company traded as low as $78.70 and last traded at $79.01. 422,855 shares changed hands during trading, a decline of 90% from the average session volume of 4,356,052 shares. The stock had previously closed at $80.59.
Several equities research analysts have issued reports on ROKU shares. Wolfe Research raised shares of Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 price objective for the company in a research report on Thursday, September 12th. Macquarie reiterated an "outperform" rating and issued a $90.00 target price on shares of Roku in a report on Thursday, October 31st. Moffett Nathanson raised Roku from a "sell" rating to a "neutral" rating and set a $80.00 price target on the stock in a research report on Tuesday, October 1st. Loop Capital upped their price objective on shares of Roku from $70.00 to $80.00 and gave the stock a "hold" rating in a research note on Monday, December 9th. Finally, Benchmark reissued a "buy" rating and set a $105.00 target price on shares of Roku in a research report on Thursday, September 12th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $83.81.
Check Out Our Latest Research Report on ROKU
The company's 50-day moving average is $75.32 and its 200 day moving average is $67.85. The stock has a market capitalization of $11.44 billion, a PE ratio of -65.66 and a beta of 2.06.
Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business posted ($2.33) EPS. Roku's revenue for the quarter was up 16.5% compared to the same quarter last year. Sell-side analysts forecast that Roku, Inc. will post -1.1 EPS for the current fiscal year.
In other news, CFO Dan Jedda sold 1,000 shares of the company's stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the sale, the chief financial officer now directly owns 64,555 shares of the company's stock, valued at $5,340,635.15. This represents a 1.53 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares of the company's stock, valued at approximately $387,544. This trade represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,096 shares of company stock valued at $5,661,223. 13.98% of the stock is owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Wealth Enhancement Advisory Services LLC increased its position in shares of Roku by 19.8% in the second quarter. Wealth Enhancement Advisory Services LLC now owns 6,836 shares of the company's stock valued at $410,000 after buying an additional 1,131 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Roku by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company's stock valued at $30,013,000 after purchasing an additional 24,926 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in Roku during the second quarter worth about $81,000. IQ EQ FUND MANAGEMENT IRELAND Ltd purchased a new position in shares of Roku during the 2nd quarter worth approximately $575,000. Finally, Panagora Asset Management Inc. raised its position in Roku by 25.5% in the second quarter. Panagora Asset Management Inc. now owns 14,456 shares of the company's stock valued at $866,000 after purchasing an additional 2,940 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.
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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