Roku (NASDAQ:ROKU) Trading 1.2% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price rose 1.2% on Tuesday . The stock traded as high as $73.56 and last traded at $71.26. Approximately 720,456 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 3,701,169 shares. The stock had previously closed at $70.44.

Analyst Upgrades and Downgrades

ROKU has been the subject of several analyst reports. FBN Securities started coverage on Roku in a research report on Friday. They set an “outperform” rating and a $93.00 target price for the company. JMP Securities increased their price target on Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Citizens Jmp raised Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Wedbush reissued an “outperform” rating and set a $100.00 target price on shares of Roku in a research report on Monday, February 10th. Finally, Compass Point initiated coverage on Roku in a research report on Sunday, March 23rd. They issued a “buy” rating for the company. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and three have assigned a strong buy rating to the company. According to data from MarketBeat, Roku presently has an average rating of “Moderate Buy” and a consensus price target of $96.55.

Roku Trading Down 0.7 %

The business has a 50-day moving average of $80.99 and a 200 day moving average of $77.70. The firm has a market capitalization of $10.20 billion, a PE ratio of -78.65 and a beta of 2.12.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, sell-side analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the transaction, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at approximately $468,225. This represents a 42.42 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew C. Banks sold 1,906 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the sale, the chief accounting officer now owns 7,256 shares in the company, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,908 shares of company stock worth $8,633,436 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

Several large investors have recently added to or reduced their stakes in ROKU. Wealth Enhancement Advisory Services LLC boosted its position in Roku by 19.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,225 shares of the company’s stock worth $463,000 after purchasing an additional 1,024 shares during the period. Audent Global Asset Management LLC boosted its holdings in Roku by 222.9% in the 4th quarter. Audent Global Asset Management LLC now owns 21,127 shares of the company’s stock worth $1,571,000 after buying an additional 14,584 shares during the period. Siemens Fonds Invest GmbH purchased a new position in Roku in the 4th quarter valued at approximately $1,681,000. Fluent Financial LLC bought a new stake in Roku during the 4th quarter valued at $660,000. Finally, United Advisor Group LLC lifted its position in shares of Roku by 0.9% during the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock worth $1,073,000 after acquiring an additional 130 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.