Roku (NASDAQ:ROKU) Trading Up 1.2% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) shares traded up 1.2% during trading on Tuesday . The stock traded as high as $73.56 and last traded at $71.26. 720,456 shares were traded during mid-day trading, a decline of 81% from the average session volume of 3,701,169 shares. The stock had previously closed at $70.44.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on ROKU shares. Wedbush reaffirmed an “outperform” rating and set a $100.00 target price on shares of Roku in a research note on Monday, February 10th. JMP Securities boosted their target price on shares of Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research note on Friday, February 14th. UBS Group upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 27th. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Finally, FBN Securities started coverage on shares of Roku in a report on Friday, March 28th. They issued an “outperform” rating and a $93.00 price objective for the company. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seventeen have given a buy rating and three have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average price target of $96.55.

Roku Price Performance

The business’s 50 day simple moving average is $80.64 and its 200 day simple moving average is $77.62. The company has a market capitalization of $9.18 billion, a price-to-earnings ratio of -71.10 and a beta of 2.17.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the transaction, the chief financial officer now owns 68,843 shares of the company’s stock, valued at $5,163,225. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,905 shares of company stock worth $8,632,306. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the company. Wealth Enhancement Advisory Services LLC grew its holdings in Roku by 19.7% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,225 shares of the company’s stock valued at $463,000 after purchasing an additional 1,024 shares during the last quarter. Audent Global Asset Management LLC increased its holdings in Roku by 222.9% during the 4th quarter. Audent Global Asset Management LLC now owns 21,127 shares of the company’s stock valued at $1,571,000 after acquiring an additional 14,584 shares in the last quarter. Siemens Fonds Invest GmbH acquired a new position in Roku during the fourth quarter worth about $1,681,000. Fluent Financial LLC purchased a new stake in shares of Roku in the fourth quarter valued at about $660,000. Finally, United Advisor Group LLC grew its position in shares of Roku by 0.9% in the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after purchasing an additional 130 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.