Roku (NASDAQ:ROKU) Shares Up 4.2%

Shares of Roku, Inc. (NASDAQ:ROKU) were up 4.2% during trading on Tuesday . The stock traded as high as $62.44 and last traded at $61.03. Approximately 1,917,039 shares were traded during trading, a decline of 66% from the average daily volume of 5,600,490 shares. The stock had previously closed at $58.57.

Analyst Ratings Changes

ROKU has been the subject of several research analyst reports. Benchmark reissued a “buy” rating and issued a $115.00 price objective on shares of Roku in a report on Friday. Pivotal Research dropped their price target on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Morgan Stanley lowered their target price on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Oppenheimer downgraded shares of Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Finally, Citigroup lowered their price objective on shares of Roku from $110.00 to $75.00 and set a “neutral” rating for the company in a research report on Wednesday, February 21st. Five equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $84.76.

Roku Stock Up 5.5 %

The business’s 50 day moving average is $64.89 and its two-hundred day moving average is $78.89. The firm has a market capitalization of $8.87 billion, a P/E ratio of -12.16 and a beta of 1.66.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 15th. The company reported ($0.55) EPS for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.10. The company had revenue of $984.40 million for the quarter, compared to the consensus estimate of $967.72 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. Roku’s revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($1.70) EPS. As a group, equities analysts anticipate that Roku, Inc. will post -2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, Director Jeffrey M. Blackburn purchased 8,000 shares of the stock in a transaction dated Wednesday, March 13th. The shares were bought at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the transaction, the director now owns 8,000 shares in the company, valued at $511,680. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Roku news, Director Jeffrey M. Blackburn acquired 8,000 shares of Roku stock in a transaction dated Wednesday, March 13th. The stock was bought at an average price of $63.96 per share, for a total transaction of $511,680.00. Following the transaction, the director now owns 8,000 shares in the company, valued at approximately $511,680. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the sale, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The disclosure for this sale can be found here. Insiders sold 54,545 shares of company stock worth $4,364,035 over the last ninety days. Company insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors have recently bought and sold shares of the stock. Gotham Asset Management LLC lifted its holdings in shares of Roku by 200.3% in the third quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock valued at $2,903,000 after purchasing an additional 27,431 shares in the last quarter. Nordea Investment Management AB lifted its stake in Roku by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock worth $669,000 after acquiring an additional 551 shares in the last quarter. Barclays PLC boosted its position in Roku by 13.0% during the 3rd quarter. Barclays PLC now owns 215,766 shares of the company’s stock worth $15,231,000 after acquiring an additional 24,765 shares during the period. Deutsche Bank AG grew its stake in Roku by 27.6% during the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock valued at $10,922,000 after acquiring an additional 33,500 shares in the last quarter. Finally, Vontobel Holding Ltd. increased its holdings in shares of Roku by 32.4% in the 4th quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock valued at $7,312,000 after purchasing an additional 19,543 shares during the period. 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.