Roku (NASDAQ:ROKU) Trading 0.5% Higher

Shares of Roku, Inc. (NASDAQ:ROKU) traded up 0.5% during mid-day trading on Thursday . The stock traded as high as $66.65 and last traded at $65.89. 1,094,230 shares were traded during mid-day trading, a decline of 82% from the average session volume of 6,190,117 shares. The stock had previously closed at $65.58.

Analysts Set New Price Targets

Several equities analysts recently issued reports on the stock. Susquehanna boosted their target price on shares of Roku from $100.00 to $110.00 and gave the company a “positive” rating in a report on Friday, February 16th. Wedbush reissued an “outperform” rating and set a $120.00 target price on shares of Roku in a research report on Friday, February 16th. Pivotal Research decreased their target price on shares of Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research report on Friday, February 16th. Wells Fargo & Company downgraded shares of Roku from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $77.00 to $51.00 in a research report on Tuesday, February 27th. Finally, Citigroup reduced their price objective on shares of Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Five research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $86.00.

Roku Stock Performance

The company has a market capitalization of $9.35 billion, a PE ratio of -13.13 and a beta of 1.66. The stock’s 50 day moving average is $75.66 and its 200 day moving average is $80.33.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, beating analysts’ consensus estimates of ($0.65) by $0.10. The company had revenue of $984.40 million for the quarter, compared to analysts’ expectations of $967.72 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. Roku’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company posted ($1.70) EPS. On average, equities research analysts forecast that Roku, Inc. will post -2.16 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the sale, the senior vice president now owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the transaction, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Jeffrey M. Blackburn bought 8,000 shares of the company’s stock in a transaction dated Wednesday, March 13th. The stock was purchased at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the purchase, the director now owns 8,000 shares of the company’s stock, valued at approximately $511,680. The disclosure for this purchase can be found here. Over the last quarter, insiders have sold 79,543 shares of company stock worth $6,631,587. 13.63% of the stock is currently owned by company insiders.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. Harbour Investments Inc. boosted its position in shares of Roku by 3.3% in the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after purchasing an additional 113 shares during the period. Avantax Advisory Services Inc. boosted its position in shares of Roku by 0.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after purchasing an additional 117 shares during the period. The Manufacturers Life Insurance Company boosted its position in shares of Roku by 0.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 21,645 shares of the company’s stock worth $1,987,000 after purchasing an additional 144 shares during the period. Brighton Jones LLC boosted its position in shares of Roku by 8.6% during the first quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock worth $235,000 after acquiring an additional 148 shares during the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in shares of Roku by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after acquiring an additional 150 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.