Roku (NASDAQ:ROKU) Trading 6.1% Higher

Roku, Inc. (NASDAQ:ROKU - Get Free Report) rose 6.1% during mid-day trading on Tuesday . The company traded as high as $66.58 and last traded at $63.84. Approximately 5,575,677 shares changed hands during trading, an increase of 0% from the average daily volume of 5,572,160 shares. The stock had previously closed at $60.16.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Piper Sandler reissued a "neutral" rating and issued a $65.00 price target (down previously from $81.00) on shares of Roku in a report on Friday, April 26th. Wells Fargo & Company raised 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. Wedbush reduced their price objective on shares of Roku from $80.00 to $75.00 and set an "outperform" rating on the stock in a research note on Friday, April 26th. Susquehanna dropped their target price on shares of Roku from $110.00 to $80.00 and set a "positive" rating for the company in a research report on Monday, April 29th. Finally, Pivotal Research cut their target price on shares of Roku from $85.00 to $75.00 and set a "hold" rating on the stock in a research note on Friday, February 16th. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, Roku currently has a consensus rating of "Hold" and an average price target of $82.50.

Roku Stock Up 3.5 %

The firm has a market cap of $8.98 billion, a P/E ratio of -15.60 and a beta of 1.69. The firm's 50-day moving average price is $61.59 and its 200 day moving average price is $78.34.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. Roku's revenue was up 19.0% compared to the same quarter last year. During the same quarter last year, the business earned ($1.38) earnings per share. On average, equities analysts predict that Roku, Inc. will post -1.94 earnings per share for the current year.

Insiders Place Their Bets

In other news, insider Charles Collier sold 12,277 shares of the firm's stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total transaction of $798,741.62. Following the transaction, the insider now directly owns 4,292 shares of the company's stock, valued at $279,237.52. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Charles Collier sold 12,277 shares of the stock in a transaction that occurred on Thursday, February 22nd. The shares were sold at an average price of $65.06, for a total value of $798,741.62. Following the completion of the transaction, the insider now directly owns 4,292 shares in the company, valued at $279,237.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Jeffrey M. Blackburn acquired 8,000 shares of the stock in a transaction that occurred on Wednesday, March 13th. The shares were bought at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the purchase, the director now directly owns 8,000 shares of the company's stock, valued at $511,680. The disclosure for this purchase can be found here. In the last quarter, insiders sold 29,751 shares of company stock worth $1,909,835. 13.63% of the stock is owned by company insiders.

Institutional Trading of Roku

Institutional investors have recently modified their holdings of the company. GAMMA Investing LLC acquired a new position in Roku in the fourth quarter worth approximately $27,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Roku during the 4th quarter worth $29,000. Federated Hermes Inc. acquired a new position in shares of Roku in the 3rd quarter worth $37,000. Quarry LP raised its position in shares of Roku by 160.2% during the fourth quarter. Quarry LP now owns 432 shares of the company's stock worth $40,000 after purchasing an additional 266 shares during the period. Finally, Benjamin Edwards Inc. lifted its holdings in shares of Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company's stock valued at $40,000 after purchasing an additional 187 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company's stock.

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.