Roku (NASDAQ:ROKU) Trading 1.9% Higher - Here's What Happened

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price rose 1.9% during mid-day trading on Thursday . The company traded as high as $85.11 and last traded at $85.23. Approximately 737,492 shares traded hands during trading, a decline of 81% from the average daily volume of 3,863,436 shares. The stock had previously closed at $83.63.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on ROKU. Rosenblatt Securities dropped their price target on Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research report on Friday, May 2nd. JMP Securities restated a "market outperform" rating and set a $95.00 price objective on shares of Roku in a research report on Tuesday, June 17th. Wedbush reaffirmed an "outperform" rating and set a $100.00 target price on shares of Roku in a report on Monday, June 16th. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price objective for the company in a research note on Monday, April 7th. Finally, Guggenheim reissued a "buy" rating and issued a $100.00 price objective on shares of Roku in a research note on Friday, May 2nd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $89.93.

Roku Stock Performance

The firm's 50 day simple moving average is $71.52 and its 200 day simple moving average is $75.13. The firm has a market capitalization of $12.62 billion, a price-to-earnings ratio of -118.49 and a beta of 2.09.

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

Insider Activity at Roku

In related news, insider Charles Collier sold 3,590 shares of the business's stock in a transaction on Tuesday, June 17th. The shares were sold at an average price of $85.00, for a total value of $305,150.00. Following the completion of the transaction, the insider now directly owns 7,380 shares in the company, valued at $627,300. The trade was a 32.73% decrease in their position. The transaction 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 on Thursday, May 29th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares of the company's stock, valued at approximately $468,225. This represents a 80.02% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 64,227 shares of company stock worth $4,994,244 in the last three months. Company insiders own 13.98% of the company's stock.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Allspring Global Investments Holdings LLC increased its holdings in Roku by 53.7% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,393 shares of the company's stock worth $253,000 after acquiring an additional 1,186 shares in the last quarter. Allworth Financial LP raised its position in shares of Roku by 52.8% in the fourth quarter. Allworth Financial LP now owns 634 shares of the company's stock valued at $50,000 after buying an additional 219 shares during the last quarter. Principal Financial Group Inc. raised its position in shares of Roku by 1,107.2% in the fourth quarter. Principal Financial Group Inc. now owns 103,032 shares of the company's stock valued at $7,659,000 after buying an additional 94,497 shares during the last quarter. Sanctuary Advisors LLC acquired a new stake in shares of Roku in the fourth quarter valued at about $218,000. Finally, Global Retirement Partners LLC raised its position in shares of Roku by 591.9% in the fourth quarter. Global Retirement Partners LLC now owns 2,311 shares of the company's stock valued at $172,000 after buying an additional 1,977 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.