Roku (NASDAQ:ROKU) Stock Price Up 3.1% – What’s Next?

Roku, Inc. (NASDAQ:ROKU)’s share price rose 3.1% during mid-day trading on Monday . The company traded as high as $89.92 and last traded at $88.52. Approximately 3,087,413 shares traded hands during trading, a decline of 2% from the average daily volume of 3,151,760 shares. The stock had previously closed at $85.85.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on the stock. KeyCorp boosted their price target on shares of Roku from $116.00 to $128.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 3rd. Citigroup reiterated an “outperform” rating on shares of Roku in a research report on Friday, January 9th. Bank of America increased their price target on Roku from $115.00 to $140.00 and gave the company a “buy” rating in a research note on Monday, January 12th. Zacks Research cut Roku from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, December 30th. Finally, Benchmark reiterated a “buy” rating on shares of Roku in a report on Wednesday, February 4th. Twenty-three investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $118.72.

Roku Trading Up 3.1%

The firm has a market cap of $13.08 billion, a P/E ratio of -442.58 and a beta of 1.99. The company has a fifty day moving average price of $104.63 and a two-hundred day moving average price of $99.07.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 3,000 shares of Roku stock in a transaction dated Thursday, January 15th. The stock was sold at an average price of $107.56, for a total value of $322,680.00. Following the sale, the chief financial officer owned 87,267 shares of the company’s stock, valued at $9,386,438.52. This trade represents a 3.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 75,000 shares of Roku stock in a transaction that occurred on Monday, January 12th. The shares were sold at an average price of $109.61, for a total value of $8,220,750.00. The SEC filing for this sale provides additional information. Insiders have sold 184,790 shares of company stock valued at $19,685,259 over the last three months. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several hedge funds have recently made changes to their positions in the business. AQR Capital Management LLC grew its position in Roku by 275.5% in the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock valued at $258,897,000 after purchasing an additional 1,897,407 shares in the last quarter. Tableaux LLC acquired a new position in shares of Roku during the 2nd quarter worth about $1,746,000. Holocene Advisors LP grew its holdings in shares of Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after acquiring an additional 1,285,585 shares in the last quarter. Acadian Asset Management LLC grew its holdings in shares of Roku by 41.2% in the 2nd quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock valued at $236,545,000 after acquiring an additional 785,864 shares in the last quarter. Finally, Duquesne Family Office LLC increased its position in shares of Roku by 123.0% in the second quarter. Duquesne Family Office LLC now owns 1,100,500 shares of the company’s stock valued at $96,723,000 after acquiring an additional 606,900 shares during the last quarter. 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.