Roku (NASDAQ:ROKU) Trading Up 1.2% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 1.2% on Tuesday . The stock traded as high as $138.58 and last traded at $138.14. 3,602,179 shares traded hands during trading, a decline of 7% from the average daily volume of 3,871,384 shares. The stock had previously closed at $136.53.

Analysts Set New Price Targets

ROKU has been the subject of several research reports. Morgan Stanley lifted their price objective on shares of Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. Zacks Research lowered Roku from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Citizens Jmp cut Roku from a “market outperform” rating to a “hold” rating in a research report on Tuesday, June 16th. Seaport Research Partners set a $155.00 price target on Roku in a research note on Tuesday, June 16th. Finally, Wedbush lowered Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price objective on the stock. in a report on Tuesday, June 16th. Eleven investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Roku has a consensus rating of “Hold” and a consensus price target of $153.71.

Roku Price Performance

The company has a market capitalization of $21.00 billion, a PE ratio of 107.09 and a beta of 2.01. The firm’s fifty day simple moving average is $127.18 and its 200 day simple moving average is $109.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings data 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 analyst estimates of $1.20 billion. During the same quarter last year, the business posted ($0.19) EPS. The company’s revenue was up 22.4% on a year-over-year basis. On average, equities research analysts anticipate that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 205,821 shares of the company’s stock in a transaction that occurred on Wednesday, April 8th. The stock was sold at an average price of $105.00, for a total value of $21,611,205.00. Following the sale, the insider owned 11,131 shares in the company, valued at approximately $1,168,755. This represents a 94.87% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible 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 Roku stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the transaction, the insider directly owned 19,185 shares of the company’s stock, valued at approximately $2,762,640. This trade represents a 34.70% 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. Over the last ninety days, insiders sold 710,466 shares of company stock valued at $81,502,607. 13.45% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the company. Raleigh Capital Management Inc. grew its position in shares of Roku by 6.5% during the 1st quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock valued at $144,000 after acquiring an additional 93 shares during the period. Apollon Wealth Management LLC raised its holdings in Roku by 1.5% in the 4th quarter. Apollon Wealth Management LLC now owns 6,450 shares of the company’s stock worth $700,000 after purchasing an additional 96 shares during the period. Quantum Portfolio Management LLC raised its holdings in Roku by 2.6% in the 1st 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 period. HB Wealth Management LLC boosted its position in 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 boosted its position in 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. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.