Stock Traders Buy Large Volume of Call Options on Roku (NASDAQ:ROKU)

Roku, Inc. (NASDAQ:ROKU) saw some unusual options trading activity on Friday. Investors purchased 50,458 call options on the company. This is an increase of approximately 55% compared to the typical volume of 32,533 call options.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ROKU shares. Benchmark restated a “buy” rating and set a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Friday, September 13th. Bank of America raised their target price on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Rosenblatt Securities dropped their price target on Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Finally, Wedbush reaffirmed an “outperform” rating and set a $75.00 price objective on shares of Roku in a research report on Friday, August 2nd. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $81.24.

Insider Activity

In related news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,566 shares of company stock valued at $5,254,000. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. Benjamin Edwards Inc. lifted its position in Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after buying an additional 187 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after acquiring an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Roku during the 3rd quarter valued at about $43,000. Geneos Wealth Management Inc. boosted its stake in Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after acquiring an additional 610 shares in the last quarter. Finally, Cedar Wealth Management LLC purchased a new stake in Roku in the second quarter worth about $48,000. Institutional investors own 86.30% of the company’s stock.

Roku Stock Up 2.4 %

NASDAQ:ROKU traded up $1.84 during trading hours on Friday, hitting $78.79. 1,331,785 shares of the company’s stock traded hands, compared to its average volume of 4,385,007. The firm has a market cap of $11.40 billion, a P/E ratio of -22.90 and a beta of 2.08. The business’s fifty day simple moving average is $70.03 and its two-hundred day simple moving average is $62.72. Roku has a 52 week low of $48.33 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. During the same period last year, the business earned ($0.76) earnings per share. The business’s quarterly revenue was up 14.3% on a year-over-year basis. On average, analysts expect that Roku will post -1.44 EPS for the current year.

Roku Company Profile

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.