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Roku (NASDAQ:ROKU) Stock Price Up 2.1% - Here's What Happened

Roku logo with Consumer Discretionary background

Roku, Inc. (NASDAQ:ROKU - Get Free Report) traded up 2.1% during trading on Wednesday . The stock traded as high as $88.03 and last traded at $88.03. 633,349 shares were traded during mid-day trading, a decline of 84% from the average session volume of 3,839,930 shares. The stock had previously closed at $86.20.

Analyst Ratings Changes

Several equities research analysts have weighed in on ROKU shares. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a research report on Monday, April 7th. JMP Securities reaffirmed a "market outperform" rating and set a $95.00 price objective on shares of Roku in a research note on Tuesday, June 17th. Wells Fargo & Company dropped their target price on shares of Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a report on Monday, April 28th. Moffett Nathanson upgraded Roku from a "sell" rating to a "neutral" rating and set a $70.00 price target on the stock in a report on Tuesday, March 4th. Finally, Compass Point began coverage on Roku in a research report on Sunday, March 23rd. They set a "buy" rating for the company. One analyst has rated the stock with a sell rating, seven have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $89.93.

Read Our Latest Stock Report on Roku

Roku Stock Performance

The company has a market capitalization of $12.61 billion, a PE ratio of -118.55 and a beta of 2.12. The company's 50-day moving average is $73.20 and its 200 day moving average is $75.18.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, topping the consensus estimate of ($0.27) by $0.08. The firm had revenue of $1.02 billion during the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The company's revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned ($0.35) earnings per share. On average, analysts forecast that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In related news, Director Mai Fyfield sold 914 shares of the company's stock in a transaction on Friday, June 6th. The stock was sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the sale, the director owned 4,374 shares in the company, valued at approximately $343,359. This represents a 17.28% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 1,500 shares of the stock in a transaction dated Monday, June 16th. The shares were sold at an average price of $81.32, for a total value of $121,980.00. Following the completion of the transaction, the chief financial officer directly owned 80,632 shares in the company, valued at approximately $6,556,994.24. This represents a 1.83% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 64,020 shares of company stock worth $4,979,594. Insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Large investors have recently added to or reduced their stakes in the business. Jacobs Levy Equity Management Inc. boosted its stake in shares of Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock worth $96,402,000 after acquiring an additional 1,082,548 shares during the last quarter. Geode Capital Management LLC raised its holdings in Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after purchasing an additional 56,820 shares during the period. Lecap Asset Management Ltd. purchased a new position in Roku during the first quarter valued at $511,000. Charles Schwab Investment Management Inc. grew its holdings in Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock valued at $73,661,000 after purchasing an additional 34,898 shares during the period. Finally, Achmea Investment Management B.V. increased its position in Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock worth $756,000 after buying an additional 6,042 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

About Roku

(Get Free Report)

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.

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