Roku (NASDAQ:ROKU) Trading 4.2% Higher

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

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Benchmark reissued a “buy” rating and issued a $115.00 price target on shares of Roku in a research report on Friday, April 19th. Wedbush dropped their price target on shares of Roku from $120.00 to $80.00 and set an “outperform” rating for the company in a research report on Friday, April 19th. Pivotal Research dropped their price target on shares of Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Citigroup dropped their price target on shares of Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Finally, Morgan Stanley dropped their price target on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $84.76.

Roku Stock Up 0.1 %

The firm has a market cap of $8.87 billion, a price-to-earnings ratio of -12.32 and a beta of 1.66. The business’s fifty day moving average is $63.74 and its two-hundred day moving average is $78.70.

Roku (NASDAQ:ROKU) last issued its quarterly 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 business had revenue of $984.40 million during the quarter, compared to analyst estimates of $967.72 million. During the same quarter last year, the business posted ($1.70) earnings per share. Roku’s revenue for the quarter was up 13.5% compared to the same quarter last year. Research analysts forecast that Roku, Inc. will post -2.12 EPS for the current year.

Insiders Place Their Bets

In other Roku news, Director Jeffrey M. Blackburn bought 8,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, with a total value of $511,680.00. Following the acquisition, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. In other Roku news, Director Jeffrey M. Blackburn bought 8,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, with a total value of $511,680.00. Following the acquisition, the director now owns 8,000 shares of the company’s stock, valued at $511,680. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the sale, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,545 shares of company stock valued at $4,364,035. Company insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Harbour Investments Inc. boosted its position in shares of Roku by 3.3% during the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after purchasing an additional 113 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in shares of Roku by 0.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after purchasing an additional 117 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Roku by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after purchasing an additional 150 shares in the last quarter. Spire Wealth Management boosted its position in shares of Roku by 35.3% during the third quarter. Spire Wealth Management now owns 621 shares of the company’s stock worth $44,000 after purchasing an additional 162 shares in the last quarter. Finally, Arizona State Retirement System boosted its position in shares of Roku by 0.5% during the third quarter. Arizona State Retirement System now owns 33,655 shares of the company’s stock worth $2,376,000 after purchasing an additional 173 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

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.