Roku (NASDAQ:ROKU) Trading Up 2.1%

Shares of Roku, Inc. (NASDAQ:ROKU) were up 2.1% during mid-day trading on Wednesday . The company traded as high as $62.88 and last traded at $62.64. Approximately 811,200 shares changed hands during trading, a decline of 84% from the average daily volume of 4,940,806 shares. The stock had previously closed at $61.36.

Wall Street Analyst Weigh In

Several equities analysts have commented on ROKU shares. Seaport Res Ptn raised Roku from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Morgan Stanley cut their price target on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Wells Fargo & Company boosted their price target on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Susquehanna cut their price objective on Roku from $110.00 to $80.00 and set a “positive” rating for the company in a report on Monday, April 29th. Finally, 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. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, Roku has an average rating of “Hold” and a consensus target price of $82.50.

Roku Trading Up 1.5 %

The stock has a market cap of $8.98 billion, a P/E ratio of -15.70 and a beta of 1.96. The company has a 50 day simple moving average of $58.01 and a 200 day simple moving average of $69.82.

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

Insider Activity

In other news, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction dated Thursday, June 13th. The shares were 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 SEC, which is available at this hyperlink. In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the sale, the senior vice president now owns 82,036 shares of the company’s stock, valued at approximately $4,683,435.24. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the transaction, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. Insiders sold a total of 23,691 shares of company stock valued at $1,334,455 over the last three months. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. LPL Financial LLC raised its stake in shares of Roku by 3.7% during the third quarter. LPL Financial LLC now owns 116,600 shares of the company’s stock valued at $8,231,000 after acquiring an additional 4,122 shares during the last quarter. Stifel Financial Corp grew its position in shares of Roku by 1.9% in the 3rd quarter. Stifel Financial Corp now owns 44,192 shares of the company’s stock valued at $3,120,000 after buying an additional 827 shares during the last quarter. Federated Hermes Inc. acquired a new stake in shares of Roku in the third quarter valued at about $37,000. AQR Capital Management LLC lifted its stake in shares of Roku by 45.9% in the third quarter. AQR Capital Management LLC now owns 185,926 shares of the company’s stock worth $12,993,000 after acquiring an additional 58,519 shares during the period. Finally, Alps Advisors Inc. increased its position in Roku by 24.2% during the 3rd quarter. Alps Advisors Inc. now owns 12,029 shares of the company’s stock valued at $849,000 after purchasing an additional 2,346 shares during the period. 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.