Roku Sees Unusually Large Options Volume (NASDAQ:ROKU)

Roku, Inc. (NASDAQ:ROKU) was the recipient of some unusual options trading on Thursday. Traders bought 46,002 call options on the stock. This is an increase of approximately 35% compared to the typical daily volume of 34,180 call options.

Insider Activity at Roku

In other news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the transaction, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Charles Collier sold 3,590 shares of the business’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the completion of the sale, the insider now owns 12,064 shares in the company, valued at approximately $784,160. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. The disclosure for this sale can be found here. Insiders have sold 5,491 shares of company stock valued at $355,755 over the last quarter. 13.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Quarry LP increased its holdings in Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Roku by 43.5% in the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after purchasing an additional 187 shares during the last quarter. EverSource Wealth Advisors LLC increased its stake in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares during the last quarter. Finally, Cedar Wealth Management LLC purchased a new stake in Roku in the 2nd quarter valued at approximately $48,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Trading Up 5.7 %

ROKU stock opened at $74.13 on Friday. The company’s 50-day moving average price is $61.39 and its 200 day moving average price is $60.56. Roku has a 52 week low of $48.33 and a 52 week high of $108.84. The company has a market cap of $10.69 billion, a P/E ratio of -18.67 and a beta of 2.06.

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

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the company. Wedbush restated an “outperform” rating and set a $75.00 price target on shares of Roku in a research note on Friday, August 2nd. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and increased their price target for the stock from $50.00 to $72.00 in a research note on Thursday, September 5th. JPMorgan Chase & Co. dropped their price objective 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. Finally, Benchmark reiterated a “buy” rating and set a $105.00 target price on shares of Roku in a research note on Thursday. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $78.25.

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.