Roku (NASDAQ:ROKU) Shares Up 3.5%

Shares of Roku, Inc. (NASDAQ:ROKU) traded up 3.5% during trading on Thursday . The company traded as high as $75.27 and last traded at $72.62. 3,319,720 shares changed hands during trading, a decline of 28% from the average session volume of 4,590,203 shares. The stock had previously closed at $70.15.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on ROKU shares. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, August 23rd. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research note on Thursday. Macquarie cut their target price on shares of Roku from $88.00 to $72.00 and set an “outperform” rating on the stock in a research note on Friday, August 2nd. Bank of America cut their target price on Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Rosenblatt Securities dropped their price objective on Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and an average price target of $78.25.

Roku Price Performance

The firm has a market cap of $10.81 billion, a P/E ratio of -18.72 and a beta of 2.06. The company’s 50-day moving average is $61.88 and its two-hundred day moving average is $60.73.

Roku (NASDAQ:ROKU) last posted its 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 net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same period last year, the company earned ($0.76) EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. On average, analysts expect that Roku, Inc. will post -1.45 EPS for the current fiscal year.

Insider Transactions at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The disclosure for this sale can be found here. Insiders sold a total of 45,945 shares of company stock valued at $3,389,805 over the last ninety days. 13.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Institutional investors have recently bought and sold shares of the stock. ARK Investment Management LLC increased its holdings in Roku by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after buying an additional 159,785 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. boosted its position 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 valued at $478,939,000 after buying an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. grew its holdings in shares of Roku by 25.8% in 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 during the last quarter. Finally, Norges Bank purchased a new stake in shares of Roku in the 4th quarter worth $90,386,000. 86.30% of the stock is owned by institutional investors.

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.