Roku (NASDAQ:ROKU) Trading 3.5% Higher

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 3.5% during mid-day trading on Thursday . The stock traded as high as $58.38 and last traded at $58.20. 729,942 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 4,700,842 shares. The stock had previously closed at $56.22.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. JPMorgan Chase & Co. cut their price target on shares of Roku from $90.00 to $80.00 and set an “overweight” rating on the stock in a report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and issued a $105.00 price target on shares of Roku in a report on Friday, August 2nd. Susquehanna reduced their target price on shares of Roku from $110.00 to $80.00 and set a “positive” rating for the company in a report on Monday, April 29th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Thursday, June 20th. Finally, Wells Fargo & Company lifted their price objective on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Four analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $79.71.

Roku Price Performance

The firm has a fifty day moving average of $57.96 and a 200 day moving average of $63.28. The stock has a market cap of $8.58 billion, a price-to-earnings ratio of -14.68 and a beta of 1.96.

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

Insiders Place Their Bets

In other news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the transaction, the insider now owns 12,064 shares of the company’s stock, valued at approximately $784,160. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction on 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 transaction, the senior vice president now owns 82,036 shares in the company, valued at $4,683,435.24. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 3,590 shares of Roku stock in a transaction 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 transaction, 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. Insiders sold a total of 27,075 shares of company stock valued at $1,556,005 over the last quarter. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

Several hedge funds have recently added to or reduced their stakes in ROKU. Sumitomo Mitsui Trust Holdings Inc. grew its stake in shares of Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. raised its holdings in Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after purchasing an additional 1,455,408 shares in the last quarter. Norges Bank acquired a new stake in Roku during the 4th quarter worth $90,386,000. Quadrature Capital Ltd purchased a new position in shares of Roku during the fourth quarter worth about $35,856,000. Finally, Vanguard Group Inc. boosted its position in shares of Roku by 3.3% in the 4th quarter. Vanguard Group Inc. now owns 11,853,947 shares of the company’s stock valued at $1,086,533,000 after purchasing an additional 380,409 shares during the period. Institutional investors and hedge funds 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.