Roku (NASDAQ:ROKU) Trading 0.4% Higher – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 0.4% on Tuesday . The company traded as high as $60.29 and last traded at $59.72. 835,088 shares were traded during mid-day trading, a decline of 78% from the average session volume of 3,793,657 shares. The stock had previously closed at $59.50.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on ROKU shares. Compass Point started coverage on shares of Roku in a report on Sunday, March 23rd. They set a “buy” rating for the company. Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and lifted their price target for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and increased their price objective for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. Rosenblatt Securities reaffirmed a “neutral” rating and set a $86.00 target price on shares of Roku in a research report on Thursday, February 13th. Finally, Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a research note on Tuesday, March 4th. One analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $94.54.

Roku Stock Down 0.6 %

The stock has a market cap of $8.63 billion, a PE ratio of -66.46 and a beta of 2.17. The stock has a 50-day moving average of $76.05 and a 200 day moving average of $76.49.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates 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 firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. On average, equities analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total transaction of $561,913.25. Following the completion of the transaction, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,333,486.34. This represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,905 shares of company stock worth $6,638,056. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds have recently modified their holdings of ROKU. FMR LLC raised its holdings 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. Marshall Wace LLP lifted its position in shares of Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after buying an additional 2,030,036 shares in the last quarter. Cadian Capital Management LP acquired a new stake in Roku in the 4th quarter valued at $87,632,000. Jacobs Levy Equity Management Inc. increased its holdings in Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock worth $96,402,000 after acquiring an additional 1,082,548 shares in the last quarter. Finally, Two Sigma Investments LP raised its position in Roku by 149.8% during the fourth quarter. Two Sigma Investments LP now owns 1,210,879 shares of the company’s stock worth $90,017,000 after acquiring an additional 726,077 shares during the period. 86.30% of the stock is owned by hedge funds and other 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.