Roku (NASDAQ:ROKU) Shares Up 1.7% – Here’s Why

Roku, Inc. (NASDAQ:ROKU) shot up 1.7% during trading on Wednesday . The company traded as high as $141.80 and last traded at $140.51. Approximately 5,046,321 shares were traded during mid-day trading, an increase of 30% from the average daily volume of 3,881,732 shares. The stock had previously closed at $138.14.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on the stock. Benchmark lifted their price objective on shares of Roku from $130.00 to $160.00 and gave the company a “buy” rating in a report on Friday, May 1st. JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $160.00 target price (up from $150.00) on shares of Roku in a research report on Tuesday, June 16th. Fox Advisors set a $160.00 price target on shares of Roku in a research note on Tuesday, June 16th. Oppenheimer lowered Roku from an “outperform” rating to a “market perform” rating in a report on Monday, June 15th. Finally, Rosenblatt Securities increased their price objective on Roku from $150.00 to $160.00 and gave the stock a “buy” rating in a research note on Tuesday, June 16th. Eleven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $153.71.

Roku Stock Up 1.7%

The stock’s 50 day moving average is $126.74 and its two-hundred day moving average is $109.60. The company has a market capitalization of $20.72 billion, a PE ratio of 105.65 and a beta of 2.06.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted ($0.19) EPS. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. On average, sell-side analysts predict that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 75,000 shares of Roku stock in a transaction on Monday, May 11th. The stock was sold at an average price of $128.79, for a total value of $9,659,250.00. The sale was disclosed in a filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the business’s stock in a transaction on Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the completion of the transaction, the insider directly owned 19,185 shares of the company’s stock, valued at approximately $2,762,640. The trade was a 34.70% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 710,466 shares of company stock valued at $81,502,607 over the last ninety days. 13.45% of the stock is owned by company insiders.

Institutional Trading of Roku

Several hedge funds have recently modified their holdings of ROKU. Raleigh Capital Management Inc. boosted its holdings in shares of Roku by 6.5% in the 1st quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock valued at $144,000 after buying an additional 93 shares in the last quarter. Apollon Wealth Management LLC boosted its stake in Roku by 1.5% in the fourth quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock valued at $700,000 after acquiring an additional 96 shares in the last quarter. Quantum Portfolio Management LLC grew its holdings in Roku by 2.6% in the first quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock worth $391,000 after purchasing an additional 105 shares during the last quarter. HB Wealth Management LLC increased its position in shares of Roku by 3.7% during the first quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock worth $326,000 after purchasing an additional 122 shares in the last quarter. Finally, Quarry LP increased its position in shares of Roku by 21.7% during the fourth quarter. Quarry LP now owns 689 shares of the company’s stock worth $75,000 after purchasing an additional 123 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

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.