Xponance Decreased its Stake in Roku Inc.
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”.
Disclaimer
The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto or stock comes with a risk of financial loss.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
