Roku (NASDAQ:ROKU) Stock Price Up 10.2%

Roku, Inc. (NASDAQ:ROKU)’s share price rose 10.2% during trading on Friday . The company traded as high as $68.50 and last traded at $68.13. Approximately 3,571,976 shares changed hands during mid-day trading, a decline of 23% from the average daily volume of 4,640,021 shares. The stock had previously closed at $61.81.

Wall Street Analyst Weigh In

A number of research firms have recently weighed in on ROKU. JPMorgan Chase & Co. lowered their price target on shares of Roku from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Wedbush restated an “outperform” rating and set a $75.00 target price on shares of Roku in a research report on Friday, August 2nd. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Friday. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Thursday, June 20th. Finally, Seaport Res Ptn upgraded Roku from a “neutral” rating to a “buy” rating in a report on Monday, April 29th. Four investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $79.50.

Roku Stock Performance

The company has a market capitalization of $10.00 billion, a PE ratio of -17.33 and a beta of 1.96. The stock’s fifty day simple moving average is $58.74 and its 200-day simple moving average is $61.90.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. During the same quarter in the previous year, the business posted ($0.76) earnings per share. The company’s revenue was up 14.3% on a year-over-year basis. On average, equities analysts anticipate that Roku, Inc. will post -1.45 EPS for the current year.

Insiders Place Their Bets

In other news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction on Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total value of $409,532.43. Following the completion of the sale, the insider now owns 15,654 shares of the company’s stock, valued at $892,747.62. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the stock in a transaction that occurred 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 transaction, 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 legal filing with the SEC, which is accessible through the SEC website. Also, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction on Tuesday, June 4th. The shares were sold at an average price of $57.03, for a total transaction of $409,532.43. Following the sale, the insider now directly owns 15,654 shares of the company’s stock, valued at $892,747.62. The disclosure for this sale can be found here. Insiders have sold a total of 27,075 shares of company stock valued at $1,556,005 in the last quarter. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. ARK Investment Management LLC increased its stake in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after acquiring an additional 159,785 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of Roku by 0.8% in the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. increased its position in Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after purchasing an additional 1,455,408 shares in the last quarter. Finally, Norges Bank purchased a new position in Roku in the fourth quarter valued at approximately $90,386,000. Institutional investors and hedge funds 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.