Roku (NASDAQ:ROKU) Trading Up 2.7% – Here’s Why

Shares of Roku, Inc. (NASDAQ:ROKU) traded up 2.7% on Tuesday . The company traded as high as $91.84 and last traded at $90.91. 3,282,467 shares were traded during mid-day trading, an increase of 3% from the average session volume of 3,192,584 shares. The stock had previously closed at $88.52.

Analysts Set New Price Targets

A number of brokerages have recently commented on ROKU. Rosenblatt Securities increased their target price on shares of Roku from $101.00 to $106.00 and gave the company a “neutral” rating in a research report on Friday, October 31st. Wall Street Zen upgraded Roku from a “hold” rating to a “buy” rating in a report on Sunday, December 7th. Wedbush increased their price target on Roku from $115.00 to $130.00 and gave the company an “outperform” rating in a report on Thursday, December 11th. Wells Fargo & Company reissued an “overweight” rating on shares of Roku in a research note on Monday, January 5th. Finally, UBS Group upped their target price on Roku from $95.00 to $103.00 and gave the company a “neutral” rating in a report on Monday, November 3rd. Twenty-three investment analysts have rated the stock with a Buy rating, five have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Roku has an average rating of “Moderate Buy” and a consensus price target of $118.72.

Roku Trading Up 2.7%

The stock has a market capitalization of $13.43 billion, a price-to-earnings ratio of -454.53 and a beta of 1.99. The firm’s fifty day moving average price is $104.63 and its 200 day moving average price is $99.07.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The shares were sold at an average price of $107.56, for a total value of $322,680.00. Following the completion of the transaction, the chief financial officer owned 87,267 shares of the company’s stock, valued at approximately $9,386,438.52. This trade represents a 3.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Neil D. Hunt sold 2,000 shares of the company’s stock in a transaction that occurred on Monday, February 2nd. The stock was sold at an average price of $96.48, for a total transaction of $192,960.00. Following the sale, the director directly owned 7,782 shares in the company, valued at approximately $750,807.36. The trade was a 20.45% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 184,790 shares of company stock valued at $19,685,259. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. boosted its stake in shares of Roku by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock valued at $1,301,557,000 after buying an additional 322,858 shares during the period. Acadian Asset Management LLC lifted its position in shares of Roku by 41.2% during the 2nd quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock worth $236,545,000 after buying an additional 785,864 shares during the last quarter. AQR Capital Management LLC lifted its position in Roku by 275.5% in the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock valued at $258,897,000 after acquiring an additional 1,897,407 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Roku by 7.3% in the 4th quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock valued at $267,389,000 after purchasing an additional 168,214 shares during the period. Finally, Tableaux LLC acquired a new stake in shares of Roku in the second quarter valued at approximately $1,746,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.