Roku (NASDAQ:ROKU) Trading 1.4% Higher - What's Next?

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s share price rose 1.4% during trading on Tuesday . The company traded as high as $71.16 and last traded at $69.10. Approximately 1,539,670 shares changed hands during mid-day trading, a decline of 58% from the average daily volume of 3,707,416 shares. The stock had previously closed at $68.14.

Analysts Set New Price Targets

ROKU has been the subject of several recent analyst reports. Wedbush decreased their target price on Roku from $125.00 to $100.00 and set an "outperform" rating for the company in a research note on Monday. JPMorgan Chase & Co. decreased their price target on shares of Roku from $115.00 to $75.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Wells Fargo & Company reduced their price objective on Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a research report on Monday. Bank of America started coverage on Roku in a research note on Thursday, March 27th. They issued a "buy" rating and a $100.00 target price for the company. Finally, FBN Securities assumed coverage on shares of Roku in a report on Friday, March 28th. They issued an "outperform" rating and a $93.00 price target on the stock. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $89.93.

Roku Stock Performance

The company has a market cap of $10.20 billion, a P/E ratio of -78.38 and a beta of 2.17. The firm's 50-day simple moving average is $70.51 and its 200 day simple moving average is $75.45.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. As a group, research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total transaction of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares of the company's stock, valued at $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the company's stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total transaction of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares of the company's stock, valued at approximately $583,092.16. This represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 71,905 shares of company stock valued at $6,560,876 in the last 90 days. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock valued at $25,000 after buying an additional 270 shares in the last quarter. Garde Capital Inc. bought a new stake in Roku in the 1st quarter valued at $25,000. Vision Financial Markets LLC acquired a new position in Roku in the 4th quarter worth $30,000. Golden State Wealth Management LLC increased its holdings in Roku by 125.4% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock worth $31,000 after purchasing an additional 247 shares in the last quarter. Finally, Princeton Global Asset Management LLC acquired a new stake in shares of Roku in the 1st quarter valued at about $35,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.

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