Roku (NASDAQ:ROKU) Trading 0.7% Higher

Shares of Roku, Inc. (NASDAQ:ROKU) rose 0.7% on Wednesday . The stock traded as high as $65.93 and last traded at $65.69. Approximately 553,565 shares traded hands during mid-day trading, a decline of 88% from the average daily volume of 4,621,583 shares. The stock had previously closed at $65.22.

Analysts Set New Price Targets

Several equities research analysts have recently commented on ROKU shares. Needham & Company LLC restated a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Thursday, June 20th. Wedbush restated an “outperform” rating and issued a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. Macquarie dropped their price target on shares of Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Finally, Bank of America dropped their target price on Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $79.50.

Roku Stock Performance

The company has a market cap of $9.30 billion, a PE ratio of -16.46 and a beta of 2.06. The firm has a fifty day simple moving average of $60.72 and a 200 day simple moving average of $60.53.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. Roku’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the firm earned ($0.76) earnings per share. As a group, equities analysts predict that Roku, Inc. will post -1.45 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other news, SVP Stephen H. Kay sold 12,124 shares of the firm’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 transaction, the senior vice president now directly owns 91,905 shares in the company, valued at approximately $5,108,998.95. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Roku news, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was 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 $784,160. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen H. Kay sold 12,124 shares of the business’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 transaction, the senior vice president now owns 91,905 shares in the company, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 16,364 shares of company stock valued at $944,945. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds have recently modified their holdings of ROKU. Granite Bay Wealth Management LLC acquired a new stake in Roku in the second quarter valued at approximately $1,142,000. Quarry LP boosted its stake in shares of Roku by 127.9% in the second quarter. Quarry LP now owns 1,682 shares of the company’s stock valued at $101,000 after purchasing an additional 944 shares during the period. Algert Global LLC increased its stake in Roku by 144.4% during the 2nd quarter. Algert Global LLC now owns 55,177 shares of the company’s stock worth $3,307,000 after buying an additional 32,603 shares during the period. Empirical Capital Management LLC lifted its holdings in Roku by 10.0% in the 2nd quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock worth $10,608,000 after buying an additional 16,031 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in Roku in the 2nd quarter valued at about $3,437,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.