Roku (NASDAQ:ROKU) Trading Up 1.8% - Here's Why

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) traded up 1.8% during trading on Wednesday . The stock traded as high as $81.83 and last traded at $81.34. 650,527 shares traded hands during trading, a decline of 84% from the average session volume of 4,049,568 shares. The stock had previously closed at $79.91.

Analysts Set New Price Targets

Several analysts recently weighed in on ROKU shares. Piper Sandler began coverage on Roku in a report on Thursday, April 17th. They issued a "neutral" rating and a $65.00 price objective for the company. Citigroup decreased their target price on Roku from $81.00 to $68.00 and set a "neutral" rating for the company in a research report on Tuesday, May 6th. Benchmark reissued a "buy" rating and set a $130.00 price target on shares of Roku in a research report on Friday, May 2nd. JMP Securities reaffirmed a "market outperform" rating and issued a $95.00 price objective on shares of Roku in a report on Monday, June 2nd. Finally, FBN Securities began coverage on shares of Roku in a research note on Friday, March 28th. They set an "outperform" rating and a $93.00 target price for the company. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, fifteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, Roku has an average rating of "Moderate Buy" and a consensus target price of $88.37.

Roku Stock Down 4.6%

The firm's 50-day simple moving average is $66.67 and its 200 day simple moving average is $74.67. The stock has a market capitalization of $11.20 billion, a P/E ratio of -86.24 and a beta of 2.09.

Roku (NASDAQ:ROKU - Get Free Report) last released its earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, beating the consensus estimate of ($0.27) by $0.08. The business had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business's quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the business earned ($0.35) earnings per share. As a group, equities analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity

In other news, CAO Matthew C. Banks sold 629 shares of the company's stock in a transaction on Tuesday, June 3rd. The stock was sold at an average price of $72.98, for a total transaction of $45,904.42. Following the completion of the sale, the chief accounting officer now directly owns 8,555 shares of the company's stock, valued at $624,343.90. This represents a 6.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $80.27, for a total value of $2,006,750.00. Following the sale, the chief executive officer now owns 11,953 shares in the company, valued at approximately $959,467.31. The trade was a 67.65% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 64,737 shares of company stock worth $4,987,114. Insiders own 13.98% of the company's stock.

Institutional Investors Weigh In On Roku

Several hedge funds have recently made changes to their positions in ROKU. Garde Capital Inc. acquired a new stake in Roku during the 1st quarter valued at $25,000. Banque Transatlantique SA purchased a new position in shares of Roku during the first quarter valued at $28,000. Vision Financial Markets LLC acquired a new position in Roku during the fourth quarter valued at $30,000. Beaird Harris Wealth Management LLC purchased a new stake in Roku in the 1st quarter worth about $30,000. Finally, Golden State Wealth Management LLC lifted its stake in Roku by 125.4% in the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock worth $31,000 after acquiring an additional 247 shares in the last quarter. Hedge funds and other institutional investors 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.