Roku (NASDAQ:ROKU) Trading 1.7% Higher – Here’s Why

Roku, Inc. (NASDAQ:ROKU) shares shot up 1.7% on Wednesday . The stock traded as high as $141.80 and last traded at $140.51. Approximately 5,046,321 shares were traded during trading, an increase of 30% from the average daily volume of 3,881,732 shares. The stock had previously closed at $138.14.

Analysts Set New Price Targets

Several analysts have commented on the stock. Morgan Stanley boosted their price target on shares of Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research note on Thursday, June 4th. William Blair downgraded Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Benchmark increased their price target on Roku from $130.00 to $160.00 and gave the company a “buy” rating in a research note on Friday, May 1st. Wells Fargo & Company lifted their price objective on Roku from $137.00 to $167.00 and gave the stock an “overweight” rating in a research note on Friday, May 1st. Finally, Jefferies Financial Group cut Roku from a “buy” rating to a “hold” rating and set a $160.00 price objective on the stock. in a report on Monday, June 15th. Eleven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average price target of $153.71.

Roku Stock Performance

The stock has a market cap of $20.72 billion, a P/E ratio of 105.65 and a beta of 2.06. The stock’s fifty day moving average is $126.74 and its 200 day moving average is $109.60.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. The business had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.The company’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period in the prior year, the business posted ($0.19) earnings per share. Equities research analysts predict that Roku, Inc. will post 2.41 EPS for the current year.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $130.00, for a total value of $3,250,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 20,537 shares of Roku stock in a transaction dated Thursday, June 4th. The stock was sold at an average price of $124.94, for a total transaction of $2,565,892.78. Following the transaction, the insider directly owned 15,200 shares of the company’s stock, valued at approximately $1,899,088. This represents a 57.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 710,466 shares of company stock valued at $81,502,607 over the last 90 days. 13.45% of the stock is currently owned by insiders.

Institutional Trading of Roku

Institutional investors have recently added to or reduced their stakes in the company. Blue Trust Inc. raised its holdings in shares of Roku by 680.0% in the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after buying an additional 204 shares during the period. Aventura Private Wealth LLC purchased a new position in Roku during the 4th quarter valued at $26,000. Bayban grew its position in Roku by 1,300.0% in the 1st quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after acquiring an additional 260 shares during the last quarter. WPG Advisers LLC bought a new position in Roku in the 4th quarter valued at $31,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in Roku in the fourth quarter worth $31,000. Institutional investors own 86.30% of the company’s stock.

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.