Roku (NASDAQ:ROKU) Trading Up 2.3% – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) traded up 2.3% on Wednesday . The stock traded as high as $82.79 and last traded at $82.30. 911,005 shares changed hands during mid-day trading, a decline of 75% from the average session volume of 3,611,682 shares. The stock had previously closed at $80.41.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on ROKU shares. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective on the stock in a research report on Tuesday. Bank of America raised their price target on Roku from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 14th. Pivotal Research raised Roku from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $65.00 to $125.00 in a report on Friday, February 14th. JMP Securities raised their target price on shares of Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group upgraded shares of Roku from an “underperform” rating to a “hold” rating and lifted their price target for the stock from $55.00 to $100.00 in a research report on Thursday, February 20th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, fourteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $96.71.

Roku Trading Up 4.6 %

The stock’s 50 day moving average is $82.19 and its two-hundred day moving average is $76.66. The stock has a market capitalization of $12.27 billion, a price-to-earnings ratio of -94.38 and a beta of 2.12.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. On average, research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Activity at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the sale, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. This represents a 1.55 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $2,510,000.00. Following the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,664,415.20. This trade represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 109,221 shares of company stock valued at $9,647,087. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

Hedge funds have recently made changes to their positions in the business. Audent Global Asset Management LLC lifted its holdings in Roku by 222.9% during the 4th quarter. Audent Global Asset Management LLC now owns 21,127 shares of the company’s stock valued at $1,571,000 after purchasing an additional 14,584 shares during the last quarter. Siemens Fonds Invest GmbH bought a new position in shares of Roku in the fourth quarter valued at about $1,681,000. Fluent Financial LLC bought a new position in shares of Roku in the fourth quarter valued at about $660,000. United Advisor Group LLC boosted its holdings in shares of Roku by 0.9% during the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock worth $1,073,000 after buying an additional 130 shares during the period. Finally, Empirical Capital Management LLC boosted its holdings in shares of Roku by 0.5% during the 4th quarter. Empirical Capital Management LLC now owns 284,500 shares of the company’s stock worth $21,150,000 after buying an additional 1,300 shares during the period. 86.30% of the stock is 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.