Roku (NASDAQ:ROKU) Shares Up 3%

Roku, Inc. (NASDAQ:ROKU) shot up 3% on Monday . The stock traded as high as $60.50 and last traded at $60.31. 511,339 shares changed hands during mid-day trading, a decline of 89% from the average session volume of 4,677,846 shares. The stock had previously closed at $58.58.

Analyst Ratings Changes

Several analysts recently issued reports on ROKU shares. Jefferies Financial Group initiated coverage on Roku in a report on Thursday, May 2nd. They set an “underperform” rating and a $50.00 target price on the stock. Wedbush reissued an “outperform” rating and issued a $75.00 price objective on shares of Roku in a report on Friday, August 2nd. Rosenblatt Securities lowered their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Benchmark reissued a “buy” rating and issued a $105.00 price objective on shares of Roku in a research report on Friday, August 2nd. Finally, Bank of America cut their target price on shares of Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Four equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $79.71.

Roku Stock Up 5.3 %

The company has a market cap of $8.92 billion, a price-to-earnings ratio of -15.12 and a beta of 1.96. The stock has a fifty day moving average price of $58.01 and a two-hundred day moving average price of $62.64.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.76) EPS. Analysts predict that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other news, insider Charles Collier sold 7,181 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total transaction of $409,532.43. Following the transaction, the insider now owns 15,654 shares of the company’s stock, valued at approximately $892,747.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.88, for a total value of $37,622.00. Following the transaction, the director now owns 3,259 shares in the company, valued at $188,630.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 7,181 shares of the stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total transaction of $409,532.43. Following the completion of the sale, the insider now owns 15,654 shares of the company’s stock, valued at approximately $892,747.62. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 27,075 shares of company stock valued at $1,556,005. 13.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. International Assets Investment Management LLC lifted its stake in shares of Roku by 13,592.0% during the 4th quarter. International Assets Investment Management LLC now owns 132,265 shares of the company’s stock valued at $12,123,000 after buying an additional 131,299 shares in the last quarter. Allspring Global Investments Holdings LLC grew its holdings in Roku by 1,822.6% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 596 shares of the company’s stock valued at $55,000 after buying an additional 565 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank increased its position in shares of Roku by 19.6% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 23,413 shares of the company’s stock valued at $2,146,000 after buying an additional 3,829 shares during the period. Federated Hermes Inc. lifted its holdings in shares of Roku by 152.3% in the fourth quarter. Federated Hermes Inc. now owns 1,327 shares of the company’s stock worth $122,000 after buying an additional 801 shares in the last quarter. Finally, OVERSEA CHINESE BANKING Corp Ltd bought a new position in shares of Roku in the fourth quarter valued at approximately $1,099,000. 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.