Roku (NASDAQ:ROKU) Stock Price Up 6.3%

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 6.3% during trading on Wednesday . The company traded as high as $56.56 and last traded at $56.36. 1,775,711 shares traded hands during mid-day trading, a decline of 63% from the average session volume of 4,766,200 shares. The stock had previously closed at $53.03.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on ROKU shares. Macquarie lowered their target price on Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a report on Friday, August 2nd. Seaport Res Ptn raised Roku from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Jefferies Financial Group started coverage on shares of Roku in a report on Thursday, May 2nd. They set an “underperform” rating and a $50.00 target price on the stock. Benchmark reiterated a “buy” rating and issued a $105.00 target price on shares of Roku in a research note on Friday, August 2nd. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Roku in a report on Thursday, June 20th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $79.71.

Roku Trading Up 1.2 %

The firm has a 50-day moving average of $58.26 and a two-hundred day moving average of $64.54. The firm has a market capitalization of $7.74 billion, a P/E ratio of -14.21 and a beta of 1.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative return on equity of 21.17% and a negative net margin of 13.16%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same period in the previous year, the business earned ($0.76) EPS. On average, sell-side analysts anticipate that Roku, Inc. will post -1.94 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value 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 approximately $4,683,435.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, SVP Stephen H. Kay sold 3,322 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the transaction, the senior vice president now directly owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The disclosure for this sale can be found here. In the last three months, insiders sold 27,075 shares of company stock valued at $1,556,005. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently modified their holdings of the stock. Swedbank AB purchased a new position in shares of Roku during the first quarter valued at about $1,180,000. Vanguard Personalized Indexing Management LLC grew its position in Roku by 8.7% in 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 during the last quarter. Norges Bank purchased a new stake in Roku in the fourth quarter worth $90,386,000. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Roku by 23.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after purchasing an additional 11,851 shares during the period. Finally, Garde Capital Inc. purchased a new position in Roku in the 4th quarter worth about $105,000. 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.