Roku, Inc. (NASDAQ:ROKU – Get Free Report) shares rose 0.5% on Tuesday . The stock traded as high as $61.60 and last traded at $61.31. Approximately 522,907 shares traded hands during mid-day trading, a decline of 89% from the average daily volume of 4,883,590 shares. The stock had previously closed at $61.02.
Wall Street Analyst Weigh In
A number of research firms recently issued reports on ROKU. Piper Sandler reaffirmed a “neutral” rating and set a $65.00 price target (down previously from $81.00) on shares of Roku in a research note on Friday, April 26th. Wedbush reaffirmed an “outperform” rating and issued a $75.00 price target on shares of Roku in a report on Thursday, June 27th. Jefferies Financial Group assumed coverage on Roku in a research note on Thursday, May 2nd. They set an “underperform” rating and a $50.00 price objective on the stock. Morgan Stanley lowered their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Finally, Susquehanna dropped their target price on Roku from $110.00 to $80.00 and set a “positive” rating for the company in a report on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $82.50.
Roku Price Performance
The stock has a market cap of $9.10 billion, a PE ratio of -15.37 and a beta of 1.96. The business has a fifty day moving average of $58.17 and a 200-day moving average of $68.97.
Roku (NASDAQ:ROKU – Get Free Report) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. The business had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business’s revenue was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned ($1.38) EPS. As a group, equities research analysts predict that Roku, Inc. will post -1.94 EPS for the current year.
Insider Activity
In other news, SVP Stephen H. Kay sold 3,322 shares of Roku stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the transaction, the senior vice president now directly owns 82,036 shares in the company, valued at approximately $4,683,435.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the completion of the sale, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Charles Collier sold 7,181 shares of Roku stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total transaction of $409,532.43. Following the completion of the transaction, the insider now directly owns 15,654 shares in the company, valued at approximately $892,747.62. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,691 shares of company stock worth $1,334,455. 13.98% of the stock is currently owned by corporate insiders.
Institutional Trading of Roku
Hedge funds and other institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. increased its position in Roku by 3.3% during the 3rd quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock valued at $247,000 after buying an additional 113 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Roku by 0.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after acquiring an additional 117 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. raised its position in shares of Roku by 0.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after purchasing an additional 150 shares during the last quarter. Benjamin Edwards Inc. boosted its stake in Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. Finally, Amalgamated Bank boosted its stake in Roku by 1.0% in the 4th quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock worth $1,817,000 after purchasing an additional 191 shares in the last quarter. Hedge funds and other institutional investors 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.