Roku (NASDAQ:ROKU) Trading Up 4.2%

Shares of Roku, Inc. (NASDAQ:ROKU) were up 4.2% during mid-day trading on Tuesday . The company traded as high as $62.44 and last traded at $61.03. Approximately 1,917,039 shares traded hands during trading, a decline of 66% from the average daily volume of 5,600,490 shares. The stock had previously closed at $58.57.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of research analyst reports. Benchmark reaffirmed a “buy” rating and issued a $115.00 target price on shares of Roku in a research report on Friday. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Wednesday, February 21st. Wells Fargo & Company reduced their price target on shares of Roku from $51.00 to $45.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Wedbush lowered their price objective on shares of Roku from $120.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday. Finally, Morgan Stanley reduced their price objective on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Five investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku presently has an average rating of “Hold” and a consensus price target of $84.76.

Roku Trading Up 5.5 %

The company has a market capitalization of $8.87 billion, a PE ratio of -12.16 and a beta of 1.66. The stock’s fifty day moving average is $64.89 and its two-hundred day moving average is $78.89.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.10. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The firm had revenue of $984.40 million for the quarter, compared to analysts’ expectations of $967.72 million. During the same period in the previous year, the company earned ($1.70) earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, analysts anticipate that Roku, Inc. will post -2.12 EPS for the current fiscal year.

Insider Activity at Roku

In other news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now owns 81,459 shares in the company, valued at approximately $5,148,208.80. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the sale, the senior vice president now owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 8,365 shares of the firm’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $528,668.00. Following the completion of the transaction, the insider now directly owns 12,656 shares of the company’s stock, valued at $799,859.20. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 54,545 shares of company stock worth $4,364,035. Insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds have recently made changes to their positions in the stock. CWM LLC grew its holdings in Roku by 26.0% during the 3rd quarter. CWM LLC now owns 8,140 shares of the company’s stock valued at $575,000 after buying an additional 1,679 shares in the last quarter. DnB Asset Management AS increased its holdings in Roku by 9.8% during the 3rd quarter. DnB Asset Management AS now owns 20,300 shares of the company’s stock worth $1,433,000 after acquiring an additional 1,812 shares during the period. HB Wealth Management LLC increased its holdings in Roku by 10.3% during the 3rd quarter. HB Wealth Management LLC now owns 4,266 shares of the company’s stock worth $301,000 after acquiring an additional 397 shares during the period. SG Americas Securities LLC purchased a new stake in Roku in the 3rd quarter worth approximately $1,536,000. Finally, Newbridge Financial Services Group Inc. boosted its holdings in Roku by 2.6% in the 3rd quarter. Newbridge Financial Services Group Inc. now owns 9,220 shares of the company’s stock valued at $651,000 after purchasing an additional 238 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.