Roku (NASDAQ:ROKU) Trading 1.1% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price traded up 1.1% during trading on Wednesday . The stock traded as high as $143.56 and last traded at $143.32. 3,221,480 shares traded hands during mid-day trading, a decline of 16% from the average daily volume of 3,830,563 shares. The stock had previously closed at $141.76.

Analysts Set New Price Targets

ROKU has been the topic of a number of recent research reports. KeyCorp cut Roku from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 15th. Fox Advisors set a $160.00 price target on shares of Roku in a research note on Tuesday, June 16th. Oppenheimer cut shares of Roku from an “outperform” rating to a “market perform” rating in a research note on Monday, June 15th. Morgan Stanley increased their price objective on shares of Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Finally, Needham & Company LLC lifted their target price on shares of Roku from $140.00 to $170.00 and gave the stock a “buy” rating in a report on Monday, June 15th. Eleven analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $153.71.

Roku Stock Performance

The firm has a market cap of $21.13 billion, a PE ratio of 107.76 and a beta of 2.01. The stock has a 50-day simple moving average of $131.77 and a two-hundred day simple moving average of $111.86.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter last year, the firm posted ($0.19) EPS. The business’s quarterly revenue was up 22.4% compared to the same quarter last year. As a group, sell-side analysts anticipate that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 7,000 shares of the firm’s stock in a transaction on Monday, June 15th. The stock was sold at an average price of $143.87, for a total value of $1,007,090.00. Following the transaction, the chief financial officer directly owned 79,963 shares in the company, valued at $11,504,276.81. This trade represents a 8.05% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of Roku stock in a transaction on Friday, June 12th. The stock was sold at an average price of $144.00, for a total value of $1,467,936.00. Following the completion of the sale, the insider directly owned 19,185 shares of the company’s stock, valued at $2,762,640. The trade was a 34.70% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 470,737 shares of company stock worth $57,383,511 in the last 90 days. Insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Empowered Funds LLC lifted its stake in shares of Roku by 18.6% in the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock worth $232,000 after purchasing an additional 515 shares during the period. Focus Partners Wealth bought a new stake in Roku during the first quarter valued at approximately $229,000. EverSource Wealth Advisors LLC increased its holdings in Roku by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock valued at $123,000 after buying an additional 826 shares during the last quarter. First Trust Advisors LP increased its holdings in Roku by 231.0% during the second quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock valued at $6,221,000 after buying an additional 49,399 shares during the last quarter. Finally, Brown Advisory Inc. bought a new position in Roku in the second quarter worth approximately $326,000. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.