Roku, Inc. (NASDAQ:ROKU – Get Free Report)’s share price traded up 0.6% on Thursday . The stock traded as high as $52.89 and last traded at $52.82. 1,110,188 shares were traded during mid-day trading, a decline of 78% from the average session volume of 5,038,261 shares. The stock had previously closed at $52.53.
Wall Street Analyst Weigh In
Several research analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Thursday. Seaport Res Ptn upgraded shares of Roku from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Morgan Stanley cut their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Wedbush lowered their target price on Roku from $80.00 to $75.00 and set an “outperform” rating on the stock in a report on Friday, April 26th. Finally, Rosenblatt Securities reissued a “neutral” rating and set a $89.00 price target on shares of Roku in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $82.50.
Roku Price Performance
The business’s 50-day simple moving average is $58.31 and its two-hundred day simple moving average is $72.85. The stock has a market capitalization of $7.74 billion, a price-to-earnings ratio of -13.45 and a beta of 1.92.
Roku (NASDAQ:ROKU – Get Free Report) last posted its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The business had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same quarter in the previous year, the business posted ($1.38) EPS. The business’s quarterly revenue was up 19.0% on a year-over-year basis. As a group, sell-side analysts expect that Roku, Inc. will post -1.94 EPS for the current year.
Insider Activity
In other news, SVP Stephen H. Kay sold 12,124 shares of Roku stock in a transaction that occurred on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the sale, the senior vice president now owns 91,905 shares in the company, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction dated Thursday, June 13th. The shares were sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the transaction, the senior vice president now directly owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Stephen H. Kay sold 3,322 shares of Roku stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the sale, the senior vice president now directly owns 82,036 shares in the company, valued at $4,683,435.24. The disclosure for this sale can be found here. Over the last quarter, insiders sold 23,898 shares of company stock worth $1,347,966. 13.98% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On Roku
Institutional investors have recently made changes to their positions in the business. Gotham Asset Management LLC increased its holdings in Roku by 200.3% in the third quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock valued at $2,903,000 after buying an additional 27,431 shares during the last quarter. Nordea Investment Management AB raised its position in shares of Roku by 8.2% during the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock valued at $669,000 after acquiring an additional 551 shares in the last quarter. Vanguard Personalized Indexing Management LLC raised its position in shares of Roku by 8.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock valued at $1,043,000 after acquiring an additional 914 shares in the last quarter. Norges Bank acquired a new position in Roku in the fourth quarter worth $90,386,000. Finally, Garde Capital Inc. acquired a new position in Roku in the fourth quarter worth $105,000. 86.30% of the stock is owned by institutional investors and hedge funds.
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.