Roku (NASDAQ:ROKU) Trading 0.5% Higher

Roku, Inc. (NASDAQ:ROKU)’s stock price rose 0.5% on Thursday . The company traded as high as $58.16 and last traded at $57.42. Approximately 1,100,737 shares changed hands during trading, a decline of 78% from the average daily volume of 4,958,090 shares. The stock had previously closed at $57.16.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ROKU shares. Morgan Stanley decreased their price target on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Rosenblatt Securities restated a “neutral” rating and set a $89.00 target price on shares of Roku in a report on Friday, April 26th. Wedbush reiterated an “outperform” rating and set a $75.00 price target on shares of Roku in a research note on Thursday. Citigroup reduced their price target on shares of Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 30th. Finally, Seaport Res Ptn upgraded shares of Roku from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $82.50.

Roku Stock Up 1.3 %

The business’s 50-day moving average is $57.94 and its two-hundred day moving average is $70.78.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. During the same period in the prior year, the company earned ($1.38) earnings per share. The company’s revenue was up 19.0% compared to the same quarter last year. As a group, equities analysts predict that Roku, Inc. will post -1.94 EPS for the current year.

Insiders Place Their Bets

In related news, insider Charles Collier sold 7,181 shares of the company’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total value of $409,532.43. Following the completion of the transaction, the insider now directly owns 15,654 shares in the company, valued at $892,747.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the sale, the senior vice president now owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total value of $409,532.43. Following the sale, the insider now owns 15,654 shares in the company, valued at $892,747.62. The disclosure for this sale can be found here. Insiders have sold a total of 23,898 shares of company stock valued at $1,347,966 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

A number of hedge funds have recently made changes to their positions in ROKU. Vanguard Group Inc. increased its stake in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after buying an additional 92,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. increased its position in shares of Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after acquiring an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. lifted its stake in shares of Roku by 25.8% in the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares in the last quarter. Wellington Management Group LLP lifted its stake in shares of Roku by 34.6% in the third quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock worth $179,516,000 after acquiring an additional 653,940 shares in the last quarter. Finally, Norges Bank purchased a new position in Roku in the fourth quarter valued at about $90,386,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

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.