Roku (NASDAQ:ROKU) Trading Up 1.5% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) shares rose 1.5% on Wednesday . The stock traded as high as $104.66 and last traded at $104.26. Approximately 2,751,589 shares traded hands during trading, a decline of 10% from the average daily volume of 3,048,377 shares. The stock had previously closed at $102.75.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on ROKU. KeyCorp reiterated an “overweight” rating and issued a $116.00 price target on shares of Roku in a report on Tuesday, October 28th. Citizens Jmp restated a “market outperform” rating and issued a $145.00 price objective on shares of Roku in a report on Tuesday, December 2nd. Zacks Research downgraded shares of Roku from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, December 30th. Morgan Stanley set a $135.00 price objective on shares of Roku and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $145.00 price target on shares of Roku in a research note on Thursday, October 2nd. Twenty-two research analysts have rated the stock with a Buy rating, five have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and an average target price of $118.79.

Roku Price Performance

The company has a 50-day moving average price of $104.20 and a 200 day moving average price of $98.35. The firm has a market capitalization of $15.40 billion, a PE ratio of -521.27 and a beta of 1.95.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, October 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Roku had a negative net margin of 0.61% and a negative return on equity of 1.08%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same period last year, the firm posted ($0.06) EPS. The company’s revenue was up 14.0% on a year-over-year basis. As a group, research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 75,000 shares of the company’s stock in a transaction dated Monday, January 12th. The shares were sold at an average price of $109.61, for a total value of $8,220,750.00. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 3,000 shares of the firm’s stock in a transaction that occurred on Thursday, January 15th. The stock was sold at an average price of $107.56, for a total transaction of $322,680.00. Following the transaction, the chief financial officer directly owned 87,267 shares in the company, valued at approximately $9,386,438.52. This trade represents a 3.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last ninety days, insiders sold 393,282 shares of company stock valued at $42,591,859. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Hedge funds have recently modified their holdings of the business. Vanguard Group Inc. lifted its position in shares of Roku by 2.5% during the third quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock valued at $1,301,557,000 after buying an additional 322,858 shares during the last quarter. Acadian Asset Management LLC boosted its position in shares of Roku by 41.2% in the 2nd quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock worth $236,545,000 after purchasing an additional 785,864 shares in the last quarter. AQR Capital Management LLC raised its stake in Roku by 275.5% in the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock valued at $258,897,000 after buying an additional 1,897,407 shares during the last quarter. Tableaux LLC purchased a new stake in shares of Roku during the second quarter worth about $1,746,000. Finally, Holocene Advisors LP raised its position in shares of Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after purchasing an additional 1,285,585 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.