Roku (NASDAQ:ROKU) Trading Up 2.3% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) shares were up 2.3% during mid-day trading on Thursday . The company traded as high as $120.11 and last traded at $119.64. Approximately 2,403,931 shares traded hands during trading, a decline of 21% from the average daily volume of 3,038,410 shares. The stock had previously closed at $116.94.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on ROKU shares. Oppenheimer lifted their price objective on shares of Roku from $105.00 to $120.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. Evercore reiterated an “outperform” rating and set a $150.00 price objective on shares of Roku in a research note on Friday, February 13th. Robert W. Baird increased their target price on Roku from $130.00 to $160.00 and gave the company an “outperform” rating in a research note on Monday, May 11th. KeyCorp increased their target price on Roku from $140.00 to $150.00 and gave the company an “overweight” rating in a research note on Friday, May 1st. Finally, Stifel Nicolaus set a $160.00 target price on Roku in a research note on Monday, March 2nd. Twenty-two equities research analysts have rated the stock with a Buy rating and four have given a Hold rating to the company’s stock. According to data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and an average price target of $145.50.

Roku Stock Performance

The firm has a market capitalization of $17.64 billion, a P/E ratio of 89.96 and a beta of 2.06. The stock has a fifty day moving average price of $117.26 and a two-hundred day moving average price of $105.79.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The business had revenue of $1.25 billion during the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the business earned ($0.19) EPS. The business’s quarterly revenue was up 22.4% on a year-over-year basis. As a group, research analysts anticipate that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Charles Collier sold 20,537 shares of the business’s stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $124.94, for a total value of $2,565,892.78. Following the completion of the sale, the insider directly owned 15,200 shares in the company, valued at approximately $1,899,088. The trade was a 57.47% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Neil D. Hunt sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, June 1st. The shares were sold at an average price of $129.09, for a total value of $258,180.00. Following the completion of the sale, the director owned 7,782 shares of the company’s stock, valued at $1,004,578.38. This trade represents a 20.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 667,168 shares of company stock worth $75,218,573. Corporate insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Blue Trust Inc. grew its holdings in Roku by 680.0% in the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after buying an additional 204 shares in the last quarter. Aventura Private Wealth LLC bought a new stake in Roku during the fourth quarter worth approximately $26,000. Bayban boosted its holdings in Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after buying an additional 260 shares in the last quarter. WPG Advisers LLC acquired a new stake in shares of Roku during the fourth quarter valued at approximately $31,000. Finally, Safe Harbor Fiduciary LLC purchased a new position in Roku during the 4th quarter worth approximately $31,000. 86.30% of the stock is owned by 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.