Roku (NASDAQ:ROKU) Trading Up 1.7%

Roku, Inc. (NASDAQ:ROKU)’s share price traded up 1.7% during trading on Tuesday . The stock traded as high as $76.40 and last traded at $75.67. 930,436 shares traded hands during trading, a decline of 80% from the average session volume of 4,574,378 shares. The stock had previously closed at $74.37.

Analyst Ratings Changes

A number of research firms have commented on ROKU. Bank of America reduced their price objective on shares of Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research note on Friday, August 2nd. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research note on Thursday, September 12th. Benchmark reaffirmed a “buy” rating and set a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Macquarie lowered their price target on Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. reduced their price objective on Roku from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.25.

Roku Stock Up 0.5 %

The firm has a 50 day simple moving average of $62.15 and a 200-day simple moving average of $60.76. The stock has a market cap of $10.77 billion, a P/E ratio of -18.96 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) EPS. On average, equities analysts anticipate that Roku, Inc. will post -1.45 earnings per share for the current year.

Insider Activity at Roku

In related news, insider Charles Collier sold 3,590 shares of Roku stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the sale, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 3,590 shares of the business’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 value of $233,350.00. Following the completion of the sale, the insider now owns 12,064 shares of the company’s stock, valued at $784,160. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 45,945 shares of company stock worth $3,389,805. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of 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 purchasing an additional 150 shares during the period. Vanguard Personalized Indexing Management LLC increased its holdings 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 buying an additional 914 shares during the period. Robeco Institutional Asset Management B.V. raised its position in shares of Roku by 37.8% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 20,565 shares of the company’s stock valued at $1,885,000 after buying an additional 5,641 shares in the last quarter. ING Groep NV acquired a new position in shares of Roku in the 4th quarter valued at approximately $1,842,000. Finally, Norges Bank bought a new stake in shares of Roku during the 4th quarter worth approximately $90,386,000. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

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.