According to its most recent Form 13F filing with the Securities & Exchange Commission (SEC), Xponance Inc., reduced its stake in Roku Inc. by 26.6% in the second quarter. The firm owned 5,747 shares of ROKU stock after selling 2,083 shares during the period. Its holdings in Roku were worth $368,000 as per its most recent SEC filing. Xponance Inc. is an asset management and investment firm.
Following the news, ROKU stock price tumbled and dropped more than 2% in its recent trading session. The increased activity of active bears took the stock down, below its 20 and 100-day EMA.
ROKU Price Analysis
As per its recent trading activity, ROKU stock noted its closing at $68.65, down over 2% in the last 24 hours. However, the stock rose upwards and noted a recent day high at $71.27, while the low was at $68.20. It must be noted that in the last 5 days, the stock price showed a 0.51% price rise. However, the ROKU stock dropped over 18% in the last 1 month.
In almost a month, the ROKU stock price experienced a drastic decline that caused its price to slide nearly from $80.00. Although the bulls have tried to make a come-back, it did not go well. Meanwhile, recent action by Xponance Inc. may further affect its share price to follow a downward path. It can be said in upcoming weeks that more bearish activity can be expected.
Notably, near the Q2 2023 report, Roku Inc. shares made a massive jump upside as its trading price almost surpassed the trading price range of $90.00. Later, with extreme activity by bears, the stock made a zig-zag movement and reached nearly $68.00.
Fundamentals of Roku Inc.
Roku Inc. (NASDAQ: ROKU), an American company, has a market cap of nearly $9.71 Billion. Later in July 2023, the company released its Q2 2023 report that states its net income is negative $107.59 Million.
ROKU earnings per share (EPS) for this quarter is negative $0.76 whereas the estimation was negative $1.27 which accounts for a 39.97% surprise. The revenue for the same period amounts to $847.19 Million despite the estimated figure of $774.66 Million.
The estimated EPS for the next quarter is negative $1.82, and revenue is expected to reach $849.67 Million. Last year, Roku, Inc.’s revenue amounted to $3.13 Billion. Most of which – nearly $2.71 Billion – came from its highest performing source at the moment, “platform”.
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