Roku (NASDAQ:ROKU) Stock Price Down 0.5% After Analyst Downgrade

Roku, Inc. (NASDAQ:ROKU)’s share price was down 0.5% on Wednesday after Citigroup lowered their price target on the stock from $81.00 to $68.00. Citigroup currently has a neutral rating on the stock. Roku traded as low as $60.09 and last traded at $60.01. Approximately 637,220 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 3,748,195 shares. The stock had previously closed at $60.29.

A number of other research firms also recently weighed in on ROKU. Pivotal Research decreased their target price on Roku from $125.00 to $100.00 and set a “buy” rating on the stock in a research report on Friday, May 2nd. Evercore ISI decreased their price objective on Roku from $105.00 to $80.00 and set an “in-line” rating on the stock in a report on Friday, May 2nd. Loop Capital lowered their price objective on Roku from $90.00 to $80.00 and set a “hold” rating on the stock in a research report on Friday, May 2nd. JMP Securities reaffirmed a “market outperform” rating and issued a $95.00 target price on shares of Roku in a research report on Friday, May 2nd. Finally, Citizens Jmp raised shares of Roku to a “strong-buy” rating in a report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $87.93.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now owns 68,843 shares in the company, valued at $5,163,225. This represents a 1.43 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total value of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,111 shares of company stock worth $6,575,362 in the last 90 days. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Large investors have recently modified their holdings of the stock. Geneos Wealth Management Inc. lifted its holdings in Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. Garde Capital Inc. purchased a new position in Roku in the 1st quarter worth approximately $25,000. Vision Financial Markets LLC purchased a new position in Roku in the 4th quarter worth approximately $30,000. Golden State Wealth Management LLC increased its holdings in shares of Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company’s stock worth $31,000 after buying an additional 247 shares during the last quarter. Finally, Game Plan Financial Advisors LLC purchased a new stake in shares of Roku during the 4th quarter valued at $37,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Down 0.7 %

The company has a market capitalization of $8.74 billion, a PE ratio of -67.29 and a beta of 2.06. The firm’s 50-day moving average is $67.26 and its 200-day moving average is $74.80.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.27) by $0.08. The firm had revenue of $1.02 billion during the quarter, compared to analysts’ expectations of $1.01 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.35) EPS. As a group, equities research analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Roku Company Profile

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.