Roku Target of Unusually Large Options Trading (NASDAQ:ROKU)

Roku, Inc. (NASDAQ:ROKU - Get Free Report) saw some unusual options trading on Tuesday. Traders bought 72,199 call options on the stock. This represents an increase of approximately 30% compared to the typical volume of 55,680 call options.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Citigroup lowered their price objective on shares of Roku from $75.00 to $70.00 and set a "neutral" rating for the company in a research report on Tuesday, April 30th. Wedbush decreased their price target on Roku from $80.00 to $75.00 and set an "outperform" rating on the stock in a report on Friday, April 26th. Seaport Res Ptn raised Roku from a "neutral" rating to a "buy" rating in a report on Monday, April 29th. Wells Fargo & Company lifted their price target on shares of Roku from $45.00 to $52.00 and gave the stock an "underweight" rating in a research report on Friday, April 26th. Finally, Morgan Stanley reduced 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. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $82.50.

Insider Buying and Selling at Roku

In related news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction on Monday, March 4th. The stock was sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the sale, the senior vice president now directly owns 81,459 shares in the company, valued at approximately $5,148,208.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, SVP Stephen H. Kay sold 4,310 shares of Roku stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the sale, the senior vice president now directly owns 81,459 shares in the company, valued at $5,148,208.80. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Charles Collier sold 8,365 shares of the firm's stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $528,668.00. Following the transaction, the insider now owns 12,656 shares of the company's stock, valued at approximately $799,859.20. The disclosure for this sale can be found here. Insiders sold 29,751 shares of company stock worth $1,909,835 in the last 90 days. 13.63% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

Several large investors have recently made changes to their positions in ROKU. GAMMA Investing LLC bought a new position in shares of Roku during the 4th quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Roku in the fourth quarter worth $29,000. Quarry LP raised its stake in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company's stock valued at $40,000 after buying an additional 266 shares during the period. Federated Hermes Inc. purchased a new position in shares of Roku during the 3rd quarter valued at $37,000. Finally, Headinvest LLC bought a new position in shares of Roku during the 3rd quarter worth $42,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Stock Performance

Shares of ROKU stock traded up $2.10 on Tuesday, hitting $62.26. The company had a trading volume of 9,779,880 shares, compared to its average volume of 5,628,585. The firm has a market cap of $8.98 billion, a P/E ratio of -16.10 and a beta of 1.69. The stock's 50-day moving average is $61.61 and its two-hundred day moving average is $78.30. Roku has a twelve month low of $51.62 and a twelve month high of $108.84.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The business had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. During the same period in the prior year, the firm posted ($1.38) EPS. The firm's quarterly revenue was up 19.0% compared to the same quarter last year. Equities research analysts predict that Roku will post -1.94 EPS for the current year.

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.