Roku (NASDAQ:ROKU) Trading 2.3% Higher

Roku, Inc. (NASDAQ:ROKU) shares were up 2.3% on Friday . The company traded as high as $60.92 and last traded at $60.53. Approximately 1,490,668 shares traded 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 Analyst Weigh In

ROKU has been the subject of several research analyst reports. Seaport Res Ptn raised Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Wells Fargo & Company lifted their price target on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research note on Friday, April 26th. Morgan Stanley lowered their price objective on shares of Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a research report on Thursday, June 20th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $89.00 price target on shares of Roku in a research report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, Roku has a consensus rating of “Hold” and a consensus target price of $82.50.

Roku Trading Up 1.6 %

The company has a market cap of $8.66 billion, a price-to-earnings ratio of -15.17 and a beta of 1.92. The stock’s 50 day moving average price is $57.88 and its 200 day moving average price is $71.08.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The firm 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 revenue was up 19.0% compared to the same quarter last year. During the same period in the previous year, the firm earned ($1.38) earnings per share. On average, equities analysts expect that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, SVP Stephen H. Kay sold 12,124 shares of Roku stock in a transaction 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 owns 91,905 shares in the company, valued at $5,108,998.95. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Roku news, Director Mai Fyfield sold 650 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the sale, the director now directly owns 3,259 shares in the company, valued at $188,630.92. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, SVP Stephen H. Kay sold 12,124 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the transaction, the senior vice president now directly owns 91,905 shares in the company, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. Insiders sold a total of 23,898 shares of company stock worth $1,347,966 in the last ninety days. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors have recently added to or reduced their stakes in the business. Invesco Ltd. grew its stake in shares of Roku by 7.1% in the third quarter. Invesco Ltd. now owns 231,029 shares of the company’s stock valued at $16,308,000 after buying an additional 15,379 shares in the last quarter. LPL Financial LLC grew its position in Roku by 3.7% in the third quarter. LPL Financial LLC now owns 116,600 shares of the company’s stock valued at $8,231,000 after acquiring an additional 4,122 shares in the last quarter. Mariner LLC raised its stake in shares of Roku by 4.1% during the third quarter. Mariner LLC now owns 38,655 shares of the company’s stock valued at $2,729,000 after purchasing an additional 1,521 shares during the period. Stifel Financial Corp lifted its position in shares of Roku by 1.9% during the third quarter. Stifel Financial Corp now owns 44,192 shares of the company’s stock worth $3,120,000 after purchasing an additional 827 shares in the last quarter. Finally, Federated Hermes Inc. purchased a new position in shares of Roku in the third quarter valued at $37,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.