Roku (NASDAQ:ROKU) Downgraded by Moffett Nathanson to “Sell”

Moffett Nathanson downgraded shares of Roku (NASDAQ:ROKU) from a neutral rating to a sell rating in a research note published on Friday morning, MarketBeat.com reports. Moffett Nathanson currently has $55.00 price objective on the stock.

Several other research firms have also recently commented on ROKU. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Tuesday. Wolfe Research raised 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. Citigroup increased their target price on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Bank of America upped their price objective on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Finally, Rosenblatt Securities increased their price objective on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $82.62.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $79.19 on Friday. The business’s fifty day moving average price is $75.99 and its two-hundred day moving average price is $69.89. The stock has a market cap of $11.50 billion, a PE ratio of -65.99 and a beta of 2.05. Roku has a one year low of $48.33 and a one year high of $99.80.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted ($2.33) EPS. As a group, equities research analysts predict that Roku will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the sale, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. The trade was a 1.84 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 48,095 shares of company stock valued at $3,731,038 in the last quarter. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several institutional investors have recently added to or reduced their stakes in ROKU. Choreo LLC acquired a new stake in shares of Roku in the 2nd quarter valued at about $324,000. American Century Companies Inc. raised its stake in Roku by 3.5% during the second quarter. American Century Companies Inc. now owns 25,847 shares of the company’s stock valued at $1,549,000 after buying an additional 877 shares in the last quarter. Jupiter Asset Management Ltd. lifted its holdings in Roku by 279.5% during the 2nd quarter. Jupiter Asset Management Ltd. now owns 175,645 shares of the company’s stock worth $10,526,000 after buying an additional 129,360 shares during the last quarter. DekaBank Deutsche Girozentrale grew its position in shares of Roku by 6.6% in the 2nd quarter. DekaBank Deutsche Girozentrale now owns 16,430 shares of the company’s stock worth $982,000 after acquiring an additional 1,022 shares in the last quarter. Finally, Federated Hermes Inc. increased its holdings in shares of Roku by 32.6% in the 2nd quarter. Federated Hermes Inc. now owns 1,695 shares of the company’s stock valued at $102,000 after acquiring an additional 417 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.