Roku, Inc. (NASDAQ:ROKU) Short Interest Down 44.8% in June

Roku, Inc. (NASDAQ:ROKU) was the recipient of a significant decline in short interest in the month of June. As of June 30th, there was short interest totaling 5,959,833 shares, a decline of 44.8% from the June 15th total of 10,788,467 shares. Approximately 4.7% of the company’s shares are sold short. Based on an average daily trading volume, of 9,651,229 shares, the short-interest ratio is currently 0.6 days.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of analyst reports. Morgan Stanley increased their price objective on Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th. Jefferies Financial Group lowered shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a report on Monday, June 15th. Weiss Ratings reissued a “hold (c-)” rating on shares of Roku in a research report on Friday, May 15th. Zacks Research cut shares of Roku from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, April 14th. Finally, Wedbush lowered shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target on the stock. in a report on Tuesday, June 16th. Ten analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $155.12.

Insider Transactions at Roku

In related news, insider Charles Collier sold 20,538 shares of the firm’s stock in a transaction that occurred on Monday, May 4th. The stock was sold at an average price of $124.23, for a total transaction of $2,551,435.74. Following the transaction, the insider directly owned 7,700 shares in the company, valued at $956,571. This trade represents a 72.73% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the firm’s stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the transaction, the insider owned 19,185 shares in the company, valued at approximately $2,762,640. The trade was a 34.70% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders have sold 236,499 shares of company stock valued at $30,582,963. 13.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Several large investors have recently added to or reduced their stakes in the stock. Blue Trust Inc. lifted its position in shares of Roku by 680.0% in the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after purchasing an additional 204 shares during the period. Aventura Private Wealth LLC purchased a new position in shares of Roku during the fourth quarter valued at about $26,000. Bayban increased its position in shares of Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after buying an additional 260 shares during the period. WPG Advisers LLC purchased a new position in shares of Roku during the fourth quarter valued at about $31,000. Finally, Safe Harbor Fiduciary LLC bought a new position in Roku in the fourth quarter worth about $31,000. Institutional investors own 86.30% of the company’s stock.

Roku Trading Up 0.0%

NASDAQ ROKU traded up $0.04 on Friday, hitting $143.86. The company’s stock had a trading volume of 591,733 shares, compared to its average volume of 3,795,666. Roku has a 52-week low of $78.53 and a 52-week high of $148.88. The company’s 50-day simple moving average is $132.42 and its 200 day simple moving average is $112.31. The firm has a market cap of $21.21 billion, a P/E ratio of 108.22 and a beta of 2.01.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. The firm had revenue of $1.25 billion for the quarter, compared to analyst estimates of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.The business’s quarterly revenue was up 22.4% compared to the same quarter last year. During the same period last year, the company earned ($0.19) EPS. On average, research analysts forecast that Roku will post 2.41 EPS for the current fiscal year.

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.