Roku (NASDAQ:ROKU) Trading Up 0.6%

Roku, Inc. (NASDAQ:ROKU) shares were up 0.6% on Thursday . The company traded as high as $52.89 and last traded at $52.82. Approximately 1,110,188 shares were traded during mid-day trading, a decline of 78% from the average daily volume of 5,038,261 shares. The stock had previously closed at $52.53.

Analyst Ratings Changes

ROKU has been the subject of several analyst reports. Susquehanna decreased their price objective on shares of Roku from $110.00 to $80.00 and set a “positive” rating for the company in a research note on Monday, April 29th. Piper Sandler reiterated a “neutral” rating and issued a $65.00 price objective (down previously from $81.00) on shares of Roku in a research note on Friday, April 26th. Rosenblatt Securities reiterated a “neutral” rating and issued a $89.00 price objective on shares of Roku in a research note on Friday, April 26th. Morgan Stanley decreased their price objective 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. Finally, Seaport Res Ptn upgraded shares of Roku from a “neutral” rating to a “buy” rating in a research note on Monday, April 29th. Four research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company’s stock. According to MarketBeat.com, Roku currently has a consensus rating of “Hold” and an average price target of $82.50.

Roku Stock Up 1.4 %

The company’s fifty day moving average is $58.04 and its 200 day moving average is $72.37.

Roku (NASDAQ:ROKU) last announced 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. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The firm had revenue of $881.50 million during the quarter, compared to the consensus estimate of $843.54 million. During the same period last year, the firm earned ($1.38) EPS. The business’s quarterly revenue was up 19.0% compared to the same quarter last year. On average, analysts predict that Roku, Inc. will post -1.94 earnings per share for the current year.

Insider Activity

In other news, SVP Stephen H. Kay sold 12,124 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the sale, the senior vice president now owns 91,905 shares in the company, valued at approximately $5,108,998.95. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction on Monday, June 10th. The shares were sold at an average price of $57.88, for a total transaction of $37,622.00. Following the sale, the director now owns 3,259 shares in the company, valued at approximately $188,630.92. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, SVP Stephen H. Kay sold 12,124 shares of the firm’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the sale, the senior vice president now owns 91,905 shares in the company, valued at approximately $5,108,998.95. The disclosure for this sale can be found here. In the last quarter, insiders have sold 23,898 shares of company stock worth $1,347,966. 13.98% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

A number of large investors have recently added to or reduced their stakes in ROKU. PNC Financial Services Group Inc. raised its position in Roku by 6.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,567 shares of the company’s stock worth $1,028,000 after purchasing an additional 943 shares during the period. DekaBank Deutsche Girozentrale increased its position in shares of Roku by 25.1% in the third quarter. DekaBank Deutsche Girozentrale now owns 14,693 shares of the company’s stock valued at $1,016,000 after acquiring an additional 2,952 shares during the period. Korea Investment CORP increased its position in shares of Roku by 15.2% in the third quarter. Korea Investment CORP now owns 20,183 shares of the company’s stock valued at $1,425,000 after acquiring an additional 2,657 shares during the period. Invesco Ltd. increased its position in shares of Roku by 7.1% in the third quarter. Invesco Ltd. now owns 231,029 shares of the company’s stock valued at $16,308,000 after acquiring an additional 15,379 shares during the period. Finally, CI Investments Inc. increased its position in shares of Roku by 1,194.2% in the third quarter. CI Investments Inc. now owns 2,239 shares of the company’s stock valued at $158,000 after acquiring an additional 2,066 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.