Roku (NASDAQ:ROKU) Trading Up 1.3%

Roku, Inc. (NASDAQ:ROKU) shot up 1.3% on Wednesday . The company traded as high as $66.18 and last traded at $65.56. 1,146,182 shares were traded during mid-day trading, a decline of 76% from the average session volume of 4,823,534 shares. The stock had previously closed at $64.73.

Analysts Set New Price Targets

Several analysts have commented on ROKU shares. Piper Sandler reissued a “neutral” rating and issued a $65.00 price objective (down from $81.00) on shares of Roku in a report on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Roku in a report on Thursday, June 27th. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Thursday, June 20th. Wells Fargo & Company boosted their price objective on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and issued a $89.00 price target on shares of Roku in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $82.50.

Roku Price Performance

The firm has a market capitalization of $9.02 billion, a price-to-earnings ratio of -15.88 and a beta of 1.96. The firm has a 50 day moving average price of $58.68 and a 200-day moving average price of $67.62.

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

Insider Buying and Selling at Roku

In other Roku news, Director Mai Fyfield sold 650 shares of Roku stock in a transaction dated Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the sale, the director now directly owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, insider Charles Collier sold 3,590 shares of the stock in a transaction on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total value of $233,350.00. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, Director Mai Fyfield sold 650 shares of Roku stock in a transaction on Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the sale, the director now owns 3,259 shares in the company, valued at $188,630.92. The disclosure for this sale can be found here. In the last three months, insiders have sold 27,281 shares of company stock valued at $1,567,805. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds have recently made changes to their positions in the company. Sumitomo Mitsui Trust Holdings Inc. grew its holdings 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 buying an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings 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 valued at $462,108,000 after purchasing an additional 1,455,408 shares during the period. Norges Bank acquired a new stake in shares of Roku during the fourth quarter worth $90,386,000. Quadrature Capital Ltd purchased a new stake in shares of Roku in the fourth quarter valued at about $35,856,000. Finally, Vanguard Group Inc. increased its position in Roku by 3.3% during the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock worth $1,086,533,000 after purchasing an additional 380,409 shares during the period. Hedge funds and other institutional investors 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.