Roku (NASDAQ:ROKU) Shares Gap Up to $58.66

Roku, Inc. (NASDAQ:ROKU) gapped up prior to trading on Tuesday . The stock had previously closed at $58.66, but opened at $60.12. Roku shares last traded at $59.79, with a volume of 2,722,115 shares trading hands.

Analysts Set New Price Targets

A number of brokerages have commented on ROKU. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Friday. Morgan Stanley lowered their target price on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a research note on Friday, April 5th. Wells Fargo & Company boosted their target price on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday. Susquehanna decreased their price target on Roku from $110.00 to $80.00 and set a “positive” rating for the company in a research note on Monday. Finally, Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a research note on Friday, February 16th. Three research analysts have rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $84.21.

Roku Trading Up 0.8 %

The firm has a fifty day simple moving average of $62.53 and a 200 day simple moving average of $78.50. The stock has a market cap of $8.48 billion, a price-to-earnings ratio of -15.02 and a beta of 1.66.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. The firm had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($1.38) EPS. On average, equities analysts expect that Roku, Inc. will post -2.12 earnings per share for the current year.

Insider Transactions at Roku

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

Institutional Investors Weigh In On Roku

A number of large investors have recently bought and sold shares of the business. Harbour Investments Inc. grew its position in Roku by 3.3% during the 3rd quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock worth $247,000 after acquiring an additional 113 shares during the last quarter. Avantax Advisory Services Inc. boosted its position in Roku by 0.9% in the 4th quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after buying an additional 117 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Roku by 0.3% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after buying an additional 150 shares during the last quarter. Spire Wealth Management boosted its position in Roku by 35.3% in the 3rd quarter. Spire Wealth Management now owns 621 shares of the company’s stock valued at $44,000 after buying an additional 162 shares during the last quarter. Finally, Arizona State Retirement System boosted its position in Roku by 0.5% in the 3rd quarter. Arizona State Retirement System now owns 33,655 shares of the company’s stock valued at $2,376,000 after buying an additional 173 shares during the last quarter. 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.