Roku (NASDAQ:ROKU) Trading 2.3% Higher

Shares of Roku, Inc. (NASDAQ:ROKU) rose 2.3% during mid-day trading on Friday . The stock traded as high as $60.92 and last traded at $60.53. Approximately 1,490,668 shares changed hands during mid-day trading, a decline of 70% from the average daily volume of 4,956,708 shares. The stock had previously closed at $59.15.

Wall Street Analysts Forecast Growth

ROKU has been the topic of a number of recent research reports. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Thursday, June 20th. Benchmark dropped their price objective on shares of Roku from $115.00 to $105.00 and set a “buy” rating on the stock in a research note on Friday, April 26th. Seaport Res Ptn raised shares of Roku from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Piper Sandler reissued a “neutral” rating and set a $65.00 price target (down from $81.00) on shares of Roku in a report on Friday, April 26th. Finally, Wells Fargo & Company upped their price objective on shares of Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $82.50.

Roku Price Performance

The stock has a market capitalization of $8.66 billion, a PE ratio of -15.17 and a beta of 1.92. The company’s 50 day moving average price is $57.88 and its two-hundred day moving average price is $71.08.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The company had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. Roku’s quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned ($1.38) EPS. Analysts forecast that Roku, Inc. will post -1.94 earnings per share for the current year.

Insiders Place Their Bets

In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the firm’s stock in a transaction on Tuesday, June 4th. The stock was 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 filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the transaction, the senior vice president now directly owns 91,905 shares in the company, valued at $5,108,998.95. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stephen H. Kay sold 3,322 shares of the stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the transaction, the senior vice president now owns 82,036 shares of the company’s stock, valued at $4,683,435.24. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 23,898 shares of company stock valued at $1,347,966. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several large investors have recently modified their holdings of the business. Harbour Investments Inc. raised its holdings in Roku by 3.3% in the 3rd quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock valued at $247,000 after buying an additional 113 shares during the period. Avantax Advisory Services Inc. raised its stake in shares of Roku by 0.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after acquiring an additional 117 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. raised its stake in shares of Roku by 0.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after acquiring an additional 150 shares during the period. Benjamin Edwards Inc. lifted its holdings in shares of Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after acquiring an additional 187 shares during the last quarter. Finally, Amalgamated Bank boosted its position in shares of Roku by 1.0% during the 4th quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock worth $1,817,000 after purchasing an additional 191 shares during the period. Institutional investors and hedge funds 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.