Roku (NASDAQ:ROKU) Shares Up 0.2%

Roku, Inc. (NASDAQ:ROKU) shares were up 0.2% during trading on Wednesday . The company traded as high as $58.50 and last traded at $57.93. Approximately 599,347 shares were traded during trading, a decline of 89% from the average daily volume of 5,705,284 shares. The stock had previously closed at $57.82.

Analyst Ratings Changes

A number of research analysts have recently commented on ROKU shares. Morgan Stanley reduced their price target on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Wells Fargo & Company reduced their price target on shares of Roku from $51.00 to $45.00 and set an “underweight” rating for the company in a research report on Friday, April 12th. Susquehanna boosted their price target on shares of Roku from $100.00 to $110.00 and gave the company a “positive” rating in a research report on Friday, February 16th. Oppenheimer lowered shares of Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Finally, Wedbush reiterated an “outperform” rating and issued a $120.00 target price on shares of Roku in a research report on Friday, February 16th. Five 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 company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $86.67.

Roku Price Performance

The firm has a market capitalization of $8.26 billion, a P/E ratio of -11.69 and a beta of 1.66. The firm’s 50 day simple moving average is $67.19 and its two-hundred day simple moving average is $79.07.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.10. The business had revenue of $984.40 million during the quarter, compared to the consensus estimate of $967.72 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm posted ($1.70) earnings per share. As a group, equities research analysts forecast that Roku, Inc. will post -2.12 EPS for the current year.

Insiders Place Their Bets

In other news, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Monday, February 12th. The shares were sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the transaction, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock valued at $4,364,035 over the last three months. Insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently modified their holdings of the company. Harbour Investments Inc. raised its stake in Roku by 3.3% in the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after buying an additional 113 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Roku by 0.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock worth $1,187,000 after buying an additional 117 shares in the last quarter. The Manufacturers Life Insurance Company raised its stake in Roku by 0.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 21,645 shares of the company’s stock worth $1,987,000 after buying an additional 144 shares in the last quarter. Brighton Jones LLC raised its stake in Roku by 8.6% in the first quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock worth $235,000 after buying an additional 148 shares in the last quarter. Finally, Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in Roku by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock worth $4,415,000 after buying an additional 150 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

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.