Roku (NASDAQ:ROKU) Trading 0.3% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price shot up 0.3% on Thursday . The company traded as high as $85.71 and last traded at $85.06. 2,140,334 shares traded hands during trading, a decline of 26% from the average session volume of 2,906,844 shares. The stock had previously closed at $84.78.

Wall Street Analyst Weigh In

Several brokerages recently commented on ROKU. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Moffett Nathanson lowered Roku from a “neutral” rating to a “sell” rating and set a $55.00 price target on the stock. in a research note on Friday, January 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Tuesday, January 7th. Piper Sandler raised their price objective on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Finally, Wells Fargo & Company raised their price objective on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.18.

Roku Stock Up 2.2 %

The firm’s 50-day moving average is $80.17 and its 200-day moving average is $73.28. The company has a market cap of $12.58 billion, a PE ratio of -72.16 and a beta of 2.05.

Insiders Place Their Bets

In other Roku news, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the sale, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,333,486.34. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 97,885 shares of company stock worth $7,911,162. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently modified their holdings of ROKU. Entropy Technologies LP increased its position in Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after buying an additional 18,520 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Roku during the 3rd quarter valued at $129,015,000. Kessler Investment Group LLC increased its stake in Roku by 21.8% in the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock worth $5,672,000 after buying an additional 13,590 shares in the last quarter. National Bank of Canada FI lifted its position in shares of Roku by 11,626.3% in the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after acquiring an additional 149,514 shares in the last quarter. Finally, EULAV Asset Management grew its position in shares of Roku by 59.1% during the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock worth $13,663,000 after purchasing an additional 68,000 shares in the last quarter. 86.30% of the stock is owned by 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.