Roku (NASDAQ:ROKU) Trading 0.5% Higher

Roku, Inc. (NASDAQ:ROKU) was up 0.5% during trading on Thursday . The company traded as high as $66.65 and last traded at $65.89. Approximately 1,094,230 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 6,190,117 shares. The stock had previously closed at $65.58.

Analysts Set New Price Targets

A number of research analysts recently commented on ROKU shares. Pivotal Research lowered their price target on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Wedbush reaffirmed an “outperform” rating and issued a $120.00 price objective on shares of Roku in a research note on Friday, February 16th. Wells Fargo & Company downgraded Roku from an “equal weight” rating to an “underweight” rating and reduced their price objective for the stock from $77.00 to $51.00 in a research note on Tuesday, February 27th. Stephens reaffirmed an “overweight” rating and issued a $105.00 price objective on shares of Roku in a research note on Friday, February 16th. Finally, Seaport Res Ptn downgraded Roku from a “neutral” rating to a “sell” rating in a research note on Monday, December 18th. Five analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat, Roku presently has a consensus rating of “Hold” and a consensus price target of $86.00.

Roku Trading Down 0.6 %

The company has a 50-day simple moving average of $75.66 and a 200 day simple moving average of $80.33. The company has a market cap of $9.35 billion, a P/E ratio of -13.13 and a beta of 1.66.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 15th. The company reported ($0.55) earnings per share for the quarter, topping the consensus estimate of ($0.65) by $0.10. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The business had revenue of $984.40 million during the quarter, compared to analysts’ expectations of $967.72 million. During the same period in the prior year, the business earned ($1.70) EPS. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. On average, equities analysts forecast that Roku, Inc. will post -2.16 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $90.50, for a total value of $2,262,500.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $12,780,500.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Wednesday, January 10th. The stock was sold at an average price of $90.50, for a total transaction of $2,262,500.00. Following the completion of the sale, the chief executive officer now directly owns 141,221 shares in the company, valued at approximately $12,780,500.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 4,182 shares of the company’s stock in a transaction on Friday, March 8th. The stock was sold at an average price of $65.00, for a total value of $271,830.00. Following the sale, the insider now owns 8,474 shares of the company’s stock, valued at $550,810. The disclosure for this sale can be found here. In the last ninety days, insiders sold 79,543 shares of company stock worth $6,631,587. 13.63% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the business. Harbour Investments Inc. increased its position in Roku by 3.3% during the 3rd quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock valued at $247,000 after buying an additional 113 shares in the last quarter. Avantax Advisory Services Inc. increased its holdings in shares of Roku by 0.9% in the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after purchasing an additional 117 shares during the period. The Manufacturers Life Insurance Company increased its holdings in shares of Roku by 0.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 21,645 shares of the company’s stock valued at $1,987,000 after purchasing an additional 144 shares during the period. Brighton Jones LLC increased its holdings in shares of Roku by 8.6% in the first quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock valued at $235,000 after purchasing an additional 148 shares during the period. Finally, Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in shares of Roku by 0.3% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after purchasing an additional 150 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

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.