Roku (NASDAQ:ROKU) Stock Price Up 2.6%

Roku, Inc. (NASDAQ:ROKU) shares traded up 2.6% during mid-day trading on Monday . The stock traded as high as $61.17 and last traded at $60.63. 1,398,325 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 5,732,830 shares. The stock had previously closed at $59.11.

Analyst Ratings Changes

ROKU has been the topic of a number of recent research reports. Benchmark cut their target price on shares of Roku from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Jefferies Financial Group started coverage on shares of Roku in a report on Thursday. They issued an “underperform” rating and a $50.00 price objective on the stock. Seaport Res Ptn upgraded shares of Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Pivotal Research cut their price target on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research note on Friday, February 16th. Finally, Wedbush lowered their price objective on Roku from $80.00 to $75.00 and set an “outperform” rating for the company in a research report on Friday, April 26th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $82.50.

Roku Stock Performance

The company has a market cap of $8.70 billion, a PE ratio of -15.12 and a beta of 1.69. The stock’s 50-day simple moving average is $62.07 and its 200 day simple moving average is $78.31.

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

Insider Activity at Roku

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the transaction, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the transaction, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. Insiders have sold a total of 54,751 shares of company stock worth $4,375,835 over the last three months. 13.63% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently made changes to their positions in the company. GAMMA Investing LLC acquired a new position in Roku in the fourth quarter valued at $27,000. Creative Financial Designs Inc. ADV purchased a new stake in shares of Roku during the 4th quarter valued at $29,000. Federated Hermes Inc. acquired a new stake in shares of Roku during the 3rd quarter worth $37,000. Quarry LP raised its position in shares of Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after buying an additional 266 shares during the period. Finally, Benjamin Edwards Inc. boosted its holdings in Roku by 43.5% in the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after acquiring an additional 187 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.