Roku (NASDAQ:ROKU) Trading 3.9% Higher – Here’s Why

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 3.9% during trading on Monday . The stock traded as high as $96.36 and last traded at $95.18. 2,170,362 shares traded hands during trading, a decline of 42% from the average session volume of 3,725,985 shares. The stock had previously closed at $91.65.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several research analyst reports. Evercore reiterated an “outperform” rating and issued a $150.00 price target on shares of Roku in a report on Friday, February 13th. Guggenheim raised their price objective on shares of Roku from $110.00 to $115.00 and gave the stock a “buy” rating in a report on Thursday, December 4th. Citigroup reaffirmed a “market outperform” rating on shares of Roku in a research report on Monday, March 2nd. Oppenheimer upped their target price on shares of Roku from $105.00 to $120.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Wells Fargo & Company increased their target price on Roku from $116.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have issued a Hold rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $125.40.

Roku Stock Performance

The stock has a market cap of $14.03 billion, a price-to-earnings ratio of 166.99 and a beta of 1.98. The business has a 50-day simple moving average of $98.04 and a two-hundred day simple moving average of $99.76.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.53 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.28 by $0.25. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.35 billion. Roku had a net margin of 1.87% and a return on equity of 3.40%. The firm’s revenue was up 16.1% compared to the same quarter last year. During the same period last year, the company earned ($0.24) earnings per share. On average, analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Charles Collier sold 1,715 shares of the firm’s stock in a transaction dated Thursday, March 5th. The stock was sold at an average price of $100.00, for a total value of $171,500.00. Following the completion of the transaction, the insider owned 11,131 shares in the company, valued at $1,113,100. This trade represents a 13.35% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gilbert Fuchsberg sold 3,250 shares of Roku stock in a transaction dated Tuesday, March 3rd. The shares were sold at an average price of $95.57, for a total value of $310,602.50. Following the completion of the sale, the insider directly owned 60,456 shares in the company, valued at approximately $5,777,779.92. This represents a 5.10% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders sold 198,124 shares of company stock worth $20,020,428. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ROKU. Empowered Funds LLC increased its position in shares of Roku by 18.6% during the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock worth $232,000 after purchasing an additional 515 shares during the last quarter. Focus Partners Wealth acquired a new stake in shares of Roku in the 1st quarter valued at approximately $229,000. Campbell & CO Investment Adviser LLC bought a new position in shares of Roku in the second quarter valued at $256,000. Allworth Financial LP grew its stake in shares of Roku by 196.4% in the second quarter. Allworth Financial LP now owns 2,134 shares of the company’s stock valued at $188,000 after buying an additional 1,414 shares in the last quarter. Finally, PNC Financial Services Group Inc. increased its holdings in Roku by 23.3% during the second quarter. PNC Financial Services Group Inc. now owns 3,893 shares of the company’s stock worth $342,000 after buying an additional 736 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

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.