Roku (NASDAQ:ROKU) Trading 1.9% Higher - What's Next?

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s share price traded up 1.9% on Monday . The stock traded as high as $89.06 and last traded at $88.63. 993,424 shares changed hands during trading, a decline of 76% from the average session volume of 4,056,659 shares. The stock had previously closed at $86.94.

Analyst Ratings Changes

A number of research firms recently commented on ROKU. UBS Group reduced their price target on Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a report on Tuesday, April 15th. JPMorgan Chase & Co. lifted their target price on Roku from $75.00 to $85.00 and gave the stock an "overweight" rating in a research note on Tuesday, June 3rd. 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 note on Friday, May 2nd. Needham & Company LLC reaffirmed a "buy" rating and set a $88.50 price objective on shares of Roku in a research report on Tuesday, June 17th. Finally, Wedbush reiterated an "outperform" rating and issued a $100.00 price objective on shares of Roku in a report on Monday, June 16th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $89.93.

Roku Price Performance

The firm's 50-day simple moving average is $72.09 and its 200 day simple moving average is $75.07. The firm has a market capitalization of $12.93 billion, a price-to-earnings ratio of -121.37 and a beta of 2.09.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, May 1st. The company reported ($0.19) EPS 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 the consensus estimate of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. The business's quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.35) earnings per share. As a group, research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at Roku

In other news, CAO Matthew C. Banks sold 629 shares of Roku 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 transaction, the chief accounting officer now owns 8,555 shares in the company, valued at approximately $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. This represents a 80.02% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 64,227 shares of company stock valued at $4,994,244 in the last 90 days. 13.98% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently made changes to their positions in the stock. Jacobs Levy Equity Management Inc. boosted its holdings in Roku by 505.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after acquiring an additional 1,082,548 shares during the last quarter. Geode Capital Management LLC lifted its position in shares of 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. bought a new stake in shares of Roku in the 1st quarter valued at $511,000. Charles Schwab Investment Management Inc. increased its position in shares of Roku by 3.7% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock worth $73,661,000 after buying an additional 34,898 shares during the period. Finally, Achmea Investment Management B.V. raised its stake in Roku by 146.4% during 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 during the last quarter. Institutional investors and hedge funds 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.

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