Roku (NASDAQ:ROKU) Trading Up 1.9%

Roku, Inc. (NASDAQ:ROKU) shares were up 1.9% during trading on Wednesday . The company traded as high as $56.19 and last traded at $55.66. Approximately 1,021,597 shares traded hands during mid-day trading, a decline of 79% from the average daily volume of 4,962,976 shares. The stock had previously closed at $54.64.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on ROKU shares. Morgan Stanley lowered their target price on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research note on Friday, April 5th. Benchmark reduced their price objective on Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research report on Friday, April 26th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Thursday, June 20th. Susquehanna reduced their price objective on Roku from $110.00 to $80.00 and set a “positive” rating for the company in a research report on Monday, April 29th. Finally, Seaport Res Ptn raised Roku from a “neutral” rating to a “buy” rating in a research report on Monday, April 29th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $82.50.

Roku Trading Up 3.5 %

The business has a 50-day moving average of $57.88 and a 200 day moving average of $71.08.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The company 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 23.81% and a negative net margin of 15.64%. Roku’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($1.38) earnings per share. As a group, equities analysts forecast that Roku, Inc. will post -1.94 EPS for the current year.

Insider Activity at Roku

In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the sale, the senior vice president now owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the sale, the senior vice president now owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Mai Fyfield sold 650 shares of the business’s stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the sale, the director now directly owns 3,259 shares of the company’s stock, valued at approximately $188,630.92. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 23,898 shares of company stock worth $1,347,966. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently made changes to their positions in ROKU. Invesco Ltd. boosted its stake in shares of Roku by 7.1% in the third quarter. Invesco Ltd. now owns 231,029 shares of the company’s stock worth $16,308,000 after acquiring an additional 15,379 shares during the period. LPL Financial LLC boosted its stake in shares of Roku by 3.7% in the third quarter. LPL Financial LLC now owns 116,600 shares of the company’s stock worth $8,231,000 after acquiring an additional 4,122 shares during the period. Mariner LLC boosted its stake in shares of Roku by 4.1% in the third quarter. Mariner LLC now owns 38,655 shares of the company’s stock worth $2,729,000 after acquiring an additional 1,521 shares during the period. Stifel Financial Corp boosted its stake in shares of Roku by 1.9% in the third quarter. Stifel Financial Corp now owns 44,192 shares of the company’s stock worth $3,120,000 after acquiring an additional 827 shares during the period. Finally, Federated Hermes Inc. bought a new position in shares of Roku in the third quarter worth about $37,000. 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.