Roku (NASDAQ:ROKU) Stock Price Up 1.2% – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) were up 1.2% on Tuesday . The company traded as high as $73.56 and last traded at $71.26. Approximately 720,456 shares traded hands during trading, a decline of 81% from the average daily volume of 3,701,169 shares. The stock had previously closed at $70.44.

Analyst Ratings Changes

ROKU has been the topic of a number of recent analyst reports. FBN Securities began coverage on shares of Roku in a report on Friday. They issued an “outperform” rating and a $93.00 price target on the stock. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 target price on the stock in a research note on Tuesday, March 4th. Needham & Company LLC restated a “buy” rating and set a $120.00 price target on shares of Roku in a research report on Monday, March 24th. Bank of America started coverage on shares of Roku in a report on Thursday, March 27th. They issued a “buy” rating and a $100.00 price target on the stock. Finally, Benchmark lifted their price objective on Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research note on Friday, February 14th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat.com, Roku currently has a consensus rating of “Moderate Buy” and an average target price of $96.55.

Roku Stock Down 0.7 %

The firm’s 50-day simple moving average is $80.99 and its 200-day simple moving average is $77.70. The firm has a market capitalization of $10.20 billion, a PE ratio of -78.65 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. On average, equities research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,116,936.26. This trade represents a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CAO Matthew C. Banks sold 1,906 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 97,908 shares of company stock worth $8,633,436. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently bought and sold shares of ROKU. Farther Finance Advisors LLC raised its position in shares of Roku by 23.9% in the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock worth $47,000 after acquiring an additional 121 shares in the last quarter. United Advisor Group LLC raised its holdings in Roku by 0.9% in the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock worth $1,073,000 after purchasing an additional 130 shares in the last quarter. Cerity Partners LLC lifted its position in Roku by 0.5% during the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock valued at $1,984,000 after buying an additional 145 shares during the period. Richard W. Paul & Associates LLC boosted its holdings in shares of Roku by 1.1% during the 4th quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock valued at $1,189,000 after buying an additional 177 shares in the last quarter. Finally, CIBC Asset Management Inc boosted its holdings in shares of Roku by 5.2% during the 4th quarter. CIBC Asset Management Inc now owns 3,859 shares of the company’s stock valued at $287,000 after buying an additional 191 shares in the last quarter. 86.30% of the stock is currently 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.