Roku (NASDAQ:ROKU) Shares Down 2.1% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price traded down 2.1% during mid-day trading on Wednesday . The stock traded as low as $108.25 and last traded at $108.49. 1,678,586 shares changed hands during mid-day trading, a decline of 54% from the average session volume of 3,681,789 shares. The stock had previously closed at $110.82.

Analyst Ratings Changes

Several equities research analysts have weighed in on ROKU shares. Susquehanna reissued a “positive” rating and set a $130.00 price target on shares of Roku in a research report on Friday, October 31st. Benchmark reaffirmed a “buy” rating on shares of Roku in a research note on Monday, October 27th. Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price on shares of Roku in a research note on Wednesday, October 1st. Piper Sandler raised Roku from a “neutral” rating to an “overweight” rating and upped their price target for the company from $88.00 to $135.00 in a research report on Monday, November 3rd. Finally, Raymond James Financial reiterated a “market perform” rating on shares of Roku in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, twenty have issued a Buy rating, five have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $116.91.

Roku Price Performance

The company has a market cap of $16.03 billion, a P/E ratio of -542.42 and a beta of 1.98. The company’s 50-day moving average is $102.33 and its two-hundred day moving average is $95.75.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, October 30th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. The business had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The company’s revenue was up 14.0% compared to the same quarter last year. During the same period last year, the business posted ($0.06) EPS. Equities research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insider Transactions at Roku

In other Roku news, insider Charles Collier sold 118,088 shares of the company’s stock in a transaction dated Friday, October 31st. The shares were sold at an average price of $115.00, for a total transaction of $13,580,120.00. Following the transaction, the insider owned 200 shares in the company, valued at approximately $23,000. This represents a 99.83% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 50,000 shares of Roku stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $103.86, for a total transaction of $5,193,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 355,957 shares of company stock valued at $37,980,076. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently modified their holdings of ROKU. Westfuller Advisors LLC bought a new stake in shares of Roku in the third quarter worth $30,000. Root Financial Partners LLC purchased a new stake in shares of Roku during the 3rd quarter valued at about $33,000. Cornerstone Planning Group LLC lifted its stake in shares of Roku by 20,450.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 411 shares of the company’s stock worth $41,000 after purchasing an additional 409 shares during the period. Beaird Harris Wealth Management LLC bought a new position in shares of Roku in the 1st quarter worth approximately $30,000. Finally, Banque Transatlantique SA bought a new stake in Roku during the first quarter valued at approximately $28,000. 86.30% of the stock is owned by institutional investors.

Roku Company Profile

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.