Roku (NASDAQ:ROKU) Trading Up 1.6% - Here's Why

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares rose 1.6% during trading on Monday . The company traded as high as $90.62 and last traded at $90.38. Approximately 772,192 shares changed hands during trading, a decline of 80% from the average daily volume of 3,954,214 shares. The stock had previously closed at $88.99.

Analysts Set New Price Targets

ROKU has been the subject of a number of research analyst reports. Pivotal Research dropped their price target on Roku from $125.00 to $100.00 and set a "buy" rating for the company in a research note on Friday, May 2nd. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 target price on the stock in a research note on Monday, April 7th. Piper Sandler boosted their price target on shares of Roku from $65.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Rosenblatt Securities lowered their price objective on shares of Roku from $100.00 to $75.00 and set a "neutral" rating for the company in a report on Friday, May 2nd. Finally, FBN Securities began coverage on Roku in a report on Friday, March 28th. They set an "outperform" rating and a $93.00 target price on the stock. One research analyst has rated the stock with a sell rating, seven have given a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $92.67.

Roku Trading Up 0.2%

The firm has a market capitalization of $13.30 billion, a PE ratio of -124.79 and a beta of 2.12. The firm has a 50 day simple moving average of $78.57 and a 200 day simple moving average of $75.89.

Roku (NASDAQ:ROKU - Get Free Report) last released 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. The company had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. Roku had a negative return on equity of 4.29% and a negative net margin of 2.49%. Roku's revenue was up 15.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.35) earnings per share. Research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In other Roku news, Director Mai Fyfield sold 914 shares of the business's stock in a transaction dated Friday, June 6th. The stock was sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the sale, the director directly owned 4,374 shares in the company, valued at $343,359. The trade was a 17.28% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CFO Dan Jedda sold 3,000 shares of the stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total transaction of $270,600.00. Following the completion of the transaction, the chief financial officer owned 76,132 shares in the company, valued at $6,867,106.40. This trade represents a 3.79% decrease in their position. The disclosure for this sale can be found here. Insiders sold 96,520 shares of company stock valued at $7,898,294 over the last 90 days. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently modified their holdings of the company. FMR LLC boosted its stake in Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares during the period. Vanguard Group Inc. lifted its holdings in shares of Roku by 2.1% in the first quarter. Vanguard Group Inc. now owns 12,503,595 shares of the company's stock worth $880,753,000 after buying an additional 254,504 shares in the last quarter. Marshall Wace LLP boosted its position in shares of Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. T. Rowe Price Investment Management Inc. grew its stake in Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock valued at $168,734,000 after acquiring an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock valued at $159,353,000 after acquiring an additional 56,820 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.