Roku (NASDAQ:ROKU) Trading 2.2% Higher

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 2.2% on Friday . The stock traded as high as $75.40 and last traded at $75.34. 444,025 shares changed hands during mid-day trading, a decline of 90% from the average session volume of 4,534,315 shares. The stock had previously closed at $73.70.

Analysts Set New Price Targets

Several brokerages have weighed in on ROKU. Rosenblatt Securities cut their target price on Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research note on Friday, August 2nd. Macquarie reduced their price objective on shares of Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. Wedbush reiterated an “outperform” rating and set a $75.00 price target on shares of Roku in a report on Friday, August 2nd. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $50.00 to $72.00 in a research report on Thursday, September 5th. Finally, Citigroup increased their price objective on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday. Three analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, Roku currently has a consensus rating of “Hold” and a consensus target price of $79.10.

Roku Trading Up 2.3 %

The stock has a market cap of $10.86 billion, a price-to-earnings ratio of -18.81 and a beta of 2.06. The firm has a fifty day simple moving average of $64.19 and a 200 day simple moving average of $61.48.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The business had revenue of $968.18 million during 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%. Roku’s quarterly revenue was up 14.3% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.76) EPS. On average, equities analysts expect that Roku, Inc. will post -1.44 earnings per share for the current year.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The disclosure for this sale can be found here. Over the last three months, insiders sold 46,945 shares of company stock valued at $3,465,135. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

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