Roku Sees Unusually High Options Volume (NASDAQ:ROKU)

Roku, Inc. (NASDAQ:ROKU) was the recipient of some unusual options trading activity on Friday. Stock investors purchased 50,458 call options on the stock. This represents an increase of 55% compared to the typical daily volume of 32,533 call options.

Insider Activity at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the business’s stock in a transaction dated Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now directly owns 38,602 shares in the company, valued at $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 69,566 shares of company stock worth $5,254,000. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently modified their holdings of the company. ARK Investment Management LLC lifted its stake in shares of Roku by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after purchasing an additional 159,785 shares in 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. lifted its position in 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 acquiring an additional 1,457,925 shares in the last quarter. Nikko Asset Management Americas Inc. lifted 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 acquiring an additional 1,455,408 shares in the last quarter. Finally, Bank of New York Mellon Corp lifted its position in Roku by 5.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock worth $30,013,000 after acquiring an additional 24,926 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Trading Up 4.1 %

Shares of NASDAQ:ROKU opened at $80.07 on Friday. The stock’s 50-day moving average price is $70.53 and its two-hundred day moving average price is $62.83. Roku has a 12-month low of $48.33 and a 12-month high of $108.84. The firm has a market cap of $11.59 billion, a price-to-earnings ratio of -23.07 and a beta of 2.08.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to analyst estimates 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 period in the previous year, the company posted ($0.76) EPS. As a group, research analysts forecast that Roku will post -1.44 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on ROKU. Macquarie increased their price target on shares of Roku from $72.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Tuesday, October 1st. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a report on Friday, August 23rd. Benchmark reissued a “buy” rating and issued a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Finally, Citigroup raised their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, Roku presently has a consensus rating of “Hold” and a consensus price target of $81.24.

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.