Roku (NASDAQ:ROKU) Hits New 1-Year High - Here's Why

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) hit a new 52-week high on Wednesday . The stock traded as high as $159.69 and last traded at $157.78, with a volume of 2268003 shares changing hands. The stock had previously closed at $158.31.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on the company. Benchmark upped their price objective on Roku from $130.00 to $160.00 and gave the stock a "buy" rating in a research report on Friday, May 1st. Jefferies Financial Group lowered shares of Roku from a "buy" rating to a "hold" rating and set a $160.00 target price for the company. in a report on Monday, June 15th. Citigroup boosted their target price on shares of Roku from $120.00 to $157.00 and gave the company a "neutral" rating in a research note on Friday, July 17th. Wedbush downgraded shares of Roku from an "outperform" rating to a "neutral" rating and set a $155.00 price target on the stock. in a report on Tuesday, June 16th. Finally, Wolfe Research downgraded shares of Roku from an "outperform" rating to a "peer perform" rating in a report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nineteen have issued a Hold rating to the company's stock. According to data from MarketBeat, Roku presently has a consensus rating of "Hold" and a consensus price target of $156.17.

Roku Trading Down 0.3%

The stock has a market cap of $23.42 billion, a PE ratio of 67.43 and a beta of 2.01. The business has a 50-day moving average price of $142.63 and a 200-day moving average price of $118.85.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, topping analysts' consensus estimates of $0.61 by $0.47. The business had revenue of $1.35 billion during the quarter, compared to analysts' expectations of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. The company's quarterly revenue was up 21.9% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.07 earnings per share. Equities analysts expect that Roku, Inc. will post 2.82 earnings per share for the current year.

Insider Buying and Selling at Roku

In other news, insider Mustafa Ozgen sold 10,194 shares of the company's stock in a transaction that occurred on Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the completion of the sale, the insider directly owned 19,185 shares in the company, valued at $2,762,640. This represents a 34.70% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 10,719 shares of the company's stock in a transaction on Thursday, August 6th. The shares were sold at an average price of $150.00, for a total value of $1,607,850.00. Following the completion of the sale, the insider owned 40,380 shares of the company's stock, valued at approximately $6,057,000. The trade was a 20.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 162,452 shares of company stock worth $22,052,982. 13.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently modified their holdings of ROKU. Raleigh Capital Management Inc. lifted its stake in shares of Roku by 6.5% during the first quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company's stock worth $144,000 after buying an additional 93 shares during the period. Quantum Portfolio Management LLC increased its stake in shares of Roku by 2.6% in the first quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company's stock worth $391,000 after acquiring an additional 105 shares during the period. HB Wealth Management LLC increased its stake in shares of Roku by 3.7% in the first quarter. HB Wealth Management LLC now owns 3,447 shares of the company's stock worth $326,000 after acquiring an additional 122 shares during the period. Quarry LP raised its holdings in shares of Roku by 21.7% during the fourth quarter. Quarry LP now owns 689 shares of the company's stock worth $75,000 after purchasing an additional 123 shares during the last quarter. Finally, Swiss Life Asset Management Ltd raised its holdings in shares of Roku by 2.2% during the fourth quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company's stock worth $648,000 after purchasing an additional 127 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Company Profile

Roku, Inc NASDAQ: ROKU is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company's platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku's product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source