Roku (NASDAQ:ROKU) Trading 1.3% Higher - Here's What Happened

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares traded up 1.3% during mid-day trading on Friday . The company traded as high as $76.56 and last traded at $75.54. 1,279,375 shares changed hands during mid-day trading, a decline of 66% from the average session volume of 3,808,468 shares. The stock had previously closed at $74.60.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on ROKU shares. Citigroup cut their price target on Roku from $81.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. Wedbush dropped their price objective on shares of Roku from $125.00 to $100.00 and set an "outperform" rating for the company in a report on Monday, April 28th. Bank of America began coverage on shares of Roku in a research note on Thursday, March 27th. They issued a "buy" rating and a $100.00 price objective on the stock. Compass Point began coverage on Roku in a research report on Sunday, March 23rd. They set a "buy" rating for the company. Finally, Wells Fargo & Company cut their target price on Roku from $129.00 to $93.00 and set an "overweight" rating on the stock in a report on Monday, April 28th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Roku has an average rating of "Moderate Buy" and an average price target of $88.37.

Roku Stock Performance

The stock has a 50 day moving average price of $65.45 and a 200 day moving average price of $74.41. The company has a market capitalization of $11.20 billion, a P/E ratio of -86.24 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last posted its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the company posted ($0.35) earnings per share. As a group, sell-side analysts expect that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, CAO Matthew C. Banks sold 629 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total transaction of $45,904.42. Following the sale, the chief accounting officer now owns 8,555 shares of the company's stock, valued at $624,343.90. The trade was a 6.85% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the sale, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. This trade represents a 1.43% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 31,642 shares of company stock worth $2,370,040. Insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

Hedge funds have recently added to or reduced their stakes in the stock. Anderson Financial Strategies LLC bought a new stake in shares of Roku during the 1st quarter valued at about $68,000. Strs Ohio purchased a new stake in shares of Roku during the first quarter valued at approximately $3,984,000. Acadian Asset Management LLC grew its holdings in shares of Roku by 456.7% in the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company's stock worth $134,222,000 after purchasing an additional 1,563,449 shares during the last quarter. Focus Partners Wealth purchased a new position in shares of Roku in the first quarter worth $229,000. Finally, Plato Investment Management Ltd raised its holdings in Roku by 217.4% during the 1st quarter. Plato Investment Management Ltd now owns 9,663 shares of the company's stock valued at $688,000 after buying an additional 6,619 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company's stock.

Roku Company Profile

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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