Roku (NASDAQ:ROKU) Trading 0.8% Higher

Roku, Inc. (NASDAQ:ROKU) rose 0.8% on Wednesday . The company traded as high as $58.39 and last traded at $58.14. Approximately 1,115,679 shares traded hands during trading, a decline of 81% from the average daily volume of 5,803,653 shares. The stock had previously closed at $57.66.

Analysts Set New Price Targets

A number of analysts have issued reports on ROKU shares. Susquehanna cut their price objective on shares of Roku from $110.00 to $80.00 and set a “positive” rating for the company in a report on Monday. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Roku in a report on Friday, April 26th. Oppenheimer cut Roku from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Rosenblatt Securities restated a “neutral” rating and issued a $89.00 target price on shares of Roku in a report on Friday, April 26th. Finally, Morgan Stanley cut their price target on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $82.50.

Roku Stock Performance

The stock has a market cap of $8.48 billion, a P/E ratio of -14.81 and a beta of 1.69. The stock’s fifty day moving average is $62.07 and its 200 day moving average is $78.13.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The company had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same period in the prior year, the company posted ($1.38) EPS. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities research analysts predict that Roku, Inc. will post -1.97 EPS for the current year.

Insider Buying and Selling

In related news, Director Jeffrey M. Blackburn acquired 8,000 shares of the stock in a transaction on Wednesday, March 13th. The stock was bought at an average cost of $63.96 per share, with a total value of $511,680.00. Following the transaction, the director now directly owns 8,000 shares in the company, valued at $511,680. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, SVP Stephen H. Kay sold 4,310 shares of Roku stock in a transaction that occurred on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the transaction, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at $5,148,208.80. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, Director Jeffrey M. Blackburn acquired 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average price of $63.96 per share, with a total value of $511,680.00. Following the completion of the purchase, the director now directly owns 8,000 shares in the company, valued at $511,680. The disclosure for this purchase can be found here. Insiders have sold 54,751 shares of company stock valued at $4,375,835 in the last 90 days. Company insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of ROKU. GAMMA Investing LLC purchased a new stake in Roku during the 4th quarter worth approximately $27,000. Creative Financial Designs Inc. ADV acquired a new position in shares of Roku in the 4th quarter valued at $29,000. Quarry LP increased its holdings in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after purchasing an additional 266 shares during the period. Federated Hermes Inc. purchased a new position in shares of Roku in the third quarter worth about $37,000. Finally, Headinvest LLC acquired a new stake in shares of Roku during the third quarter worth about $42,000. Institutional investors own 86.30% of the company’s stock.

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.