Roku (NASDAQ:ROKU) Stock Price Up 3%

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 3% on Monday . The stock traded as high as $60.50 and last traded at $60.31. 511,339 shares changed hands during trading, a decline of 89% from the average session volume of 4,677,846 shares. The stock had previously closed at $58.58.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ROKU shares. Rosenblatt Securities dropped their target price on Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Wells Fargo & Company raised their target price on shares of Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Roku in a research report on Friday, August 2nd. Wedbush restated an “outperform” rating and set a $75.00 price objective on shares of Roku in a research report on Friday, August 2nd. Finally, Susquehanna dropped their target price on shares of Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Four research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $79.71.

Roku Stock Performance

The company’s 50-day simple moving average is $58.01 and its 200-day simple moving average is $62.64. The company has a market capitalization of $8.92 billion, a PE ratio of -15.12 and a beta of 1.96.

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

Insider Buying and Selling

In related news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.88, for a total value of $37,622.00. Following the sale, the director now owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, Director Mai Fyfield sold 650 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the completion of the transaction, the director now owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen H. Kay sold 3,322 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the sale, the senior vice president now directly owns 82,036 shares in the company, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders have sold 27,075 shares of company stock valued at $1,556,005 over the last quarter. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Swedbank AB purchased a new stake in shares of Roku in the first quarter valued at $1,180,000. Vanguard Personalized Indexing Management LLC raised its position in shares of 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 purchasing an additional 914 shares in the last quarter. SG Americas Securities LLC raised its holdings in Roku by 238.6% in the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after acquiring an additional 51,815 shares in the last quarter. Norges Bank acquired a new stake in shares of Roku in the 4th quarter valued at about $90,386,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Roku by 23.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after buying an additional 11,851 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.