Roku (NASDAQ:ROKU) Shares Up 0.1% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price was up 0.1% during mid-day trading on Tuesday . The company traded as high as $82.34 and last traded at $81.32. Approximately 664,378 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 3,693,114 shares. The stock had previously closed at $81.23.

Wall Street Analysts Forecast Growth

ROKU has been the topic of several recent analyst reports. Benchmark increased their price objective on shares of Roku from $100.00 to $130.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Loop Capital upped their price objective on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Compass Point assumed coverage on Roku in a research report on Sunday. They set a “buy” rating for the company. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 price objective on shares of Roku in a research note on Monday. Finally, Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $125.00 in a report on Friday, February 14th. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.71.

Roku Trading Down 2.3 %

The firm has a market cap of $11.10 billion, a P/E ratio of -85.45 and a beta of 2.12. The business’s 50-day moving average is $81.15 and its two-hundred day moving average is $77.55.

Roku (NASDAQ:ROKU) last posted 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. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. On average, analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 4,600 shares of the firm’s 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 transaction, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at approximately $468,225. This trade 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 the SEC website. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now owns 68,843 shares in the company, valued at approximately $5,163,225. This represents a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 97,908 shares of company stock worth $8,633,436. 13.98% of the stock is owned by insiders.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Geneos Wealth Management Inc. increased its stake in shares of Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the period. Vision Financial Markets LLC purchased a new stake in shares of Roku during the fourth quarter valued at $30,000. Raelipskie Partnership acquired a new position in shares of Roku in the 3rd quarter valued at $32,000. Game Plan Financial Advisors LLC purchased a new position in Roku in the 4th quarter worth about $37,000. Finally, Harvest Fund Management Co. Ltd raised its holdings in Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after buying an additional 491 shares during the period. 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.