Roku, Inc. (NASDAQ:ROKU) Short Interest Update

Roku, Inc. (NASDAQ:ROKU) was the recipient of a significant decrease in short interest in the month of March. As of March 13th, there was short interest totaling 6,528,887 shares, a decrease of 21.1% from the February 26th total of 8,270,569 shares. Based on an average daily volume of 3,381,180 shares, the days-to-cover ratio is currently 1.9 days. Approximately 5.1% of the company’s shares are sold short.

Roku Price Performance

Roku stock traded up $0.89 during trading hours on Monday, hitting $88.04. The stock had a trading volume of 1,197,889 shares, compared to its average volume of 3,489,433. The stock has a market capitalization of $12.98 billion, a price-to-earnings ratio of 154.59 and a beta of 1.98. Roku has a 1-year low of $52.43 and a 1-year high of $116.66. The stock’s fifty day moving average is $94.94 and its two-hundred day moving average is $99.56.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 12th. The company reported $0.53 EPS for the quarter, topping the consensus estimate of $0.28 by $0.25. The business had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.35 billion. Roku had a net margin of 1.87% and a return on equity of 3.40%. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.24) EPS. As a group, sell-side analysts anticipate that Roku will post -0.3 EPS for the current year.

Analyst Upgrades and Downgrades

ROKU has been the topic of a number of recent research reports. Pivotal Research upped their target price on shares of Roku from $135.00 to $140.00 and gave the stock a “buy” rating in a research note on Monday, February 16th. Jefferies Financial Group raised shares of Roku from a “hold” rating to a “buy” rating and increased their price objective for the company from $100.00 to $135.00 in a research report on Thursday, December 11th. KeyCorp lifted their price objective on shares of Roku from $128.00 to $130.00 and gave the stock an “overweight” rating in a research report on Friday, February 13th. Needham & Company LLC reiterated a “buy” rating and set a $110.00 target price on shares of Roku in a research note on Friday, February 13th. Finally, Benchmark reissued a “buy” rating on shares of Roku in a report on Wednesday, February 4th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $126.75.

Insider Activity

In other news, CFO Dan Jedda sold 15,000 shares of the firm’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $94.23, for a total transaction of $1,413,450.00. Following the completion of the sale, the chief financial officer owned 85,115 shares in the company, valued at $8,020,386.45. This trade represents a 14.98% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Charles Collier sold 1,715 shares of the company’s stock in a transaction that occurred on Thursday, March 5th. The stock was sold at an average price of $100.00, for a total transaction of $171,500.00. Following the sale, the insider directly owned 11,131 shares in the company, valued at approximately $1,113,100. The trade was a 13.35% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 213,124 shares of company stock valued at $21,433,878 in the last quarter. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. CWM LLC lifted its position in Roku by 345.4% during the third quarter. CWM LLC now owns 84,010 shares of the company’s stock worth $8,412,000 after buying an additional 65,150 shares during the period. Accurate Wealth Management LLC purchased a new stake in Roku in the 3rd quarter valued at about $1,115,000. AGF Management Ltd. acquired a new position in shares of Roku during the 3rd quarter valued at about $15,023,000. Convergence Investment Partners LLC acquired a new position in shares of Roku during the 3rd quarter valued at about $2,492,000. Finally, Holocene Advisors LP lifted its holdings in shares of Roku by 352.3% during the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after acquiring an additional 1,285,585 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.