Roku (NASDAQ:ROKU) Trading Up 1% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) were up 1% on Tuesday . The stock traded as high as $147.38 and last traded at $147.33. Approximately 3,992,400 shares were traded during mid-day trading, an increase of 7% from the average session volume of 3,717,152 shares. The stock had previously closed at $145.84.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Wells Fargo & Company lifted their price objective on shares of Roku from $137.00 to $167.00 and gave the company an “overweight” rating in a research report on Friday, May 1st. Evercore cut shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Zacks Research downgraded shares of Roku from a “strong-buy” rating to a “hold” rating in a report on Tuesday, April 14th. Needham & Company LLC boosted their target price on Roku from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Finally, Piper Sandler cut Roku from an “overweight” rating to a “neutral” rating and upped their price objective for the stock from $148.00 to $160.00 in a report on Tuesday, June 16th. Ten analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, Roku has an average rating of “Hold” and a consensus price target of $155.12.

Roku Stock Up 1.0%

The company’s 50 day moving average price is $136.86 and its two-hundred day moving average price is $115.13. The firm has a market cap of $21.72 billion, a PE ratio of 110.78 and a beta of 2.01.

Insider Activity at Roku

In related news, insider Gilbert Fuchsberg sold 4,376 shares of the stock in a transaction dated Tuesday, June 2nd. The shares were sold at an average price of $127.26, for a total value of $556,889.76. Following the sale, the insider directly owned 51,099 shares of the company’s stock, valued at $6,502,858.74. This represents a 7.89% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CEO Anthony J. Wood sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $128.79, for a total value of $9,659,250.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 203,643 shares of company stock worth $26,492,192 in the last three months. 13.45% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in ROKU. Blue Trust Inc. grew its holdings in shares of Roku by 680.0% in the fourth quarter. Blue Trust Inc. now owns 234 shares of the company’s stock worth $25,000 after purchasing an additional 204 shares during the last quarter. Bayban lifted its holdings in Roku by 1,300.0% during the 1st quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after buying an additional 260 shares in the last quarter. WPG Advisers LLC bought a new stake in Roku during the 4th quarter valued at about $31,000. Safe Harbor Fiduciary LLC purchased a new stake in Roku in the 4th quarter valued at about $31,000. Finally, Rakuten Securities Inc. boosted its position in Roku by 55.6% in the 2nd quarter. Rakuten Securities Inc. now owns 442 shares of the company’s stock valued at $39,000 after buying an additional 158 shares during the period. 86.30% of the stock is currently owned by institutional investors.

About Roku

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.