Roku (NASDAQ:ROKU) Shares Up 0.7%

Roku, Inc. (NASDAQ:ROKU) shares traded up 0.7% during mid-day trading on Friday . The stock traded as high as $62.11 and last traded at $61.10. 698,576 shares traded hands during trading, a decline of 86% from the average session volume of 4,849,585 shares. The stock had previously closed at $60.67.

Analyst Ratings Changes

Several analysts have recently issued reports on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Thursday, June 20th. Piper Sandler reaffirmed a “neutral” rating and set a $65.00 price objective (down from $81.00) on shares of Roku in a report on Friday, April 26th. Citigroup decreased their price objective on Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Wells Fargo & Company upped their price objective on Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a report on Friday, April 26th. Finally, Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Roku in a report on Wednesday. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $82.50.

Roku Stock Performance

The firm has a market capitalization of $8.84 billion, a PE ratio of -15.31 and a beta of 1.96. The company has a fifty day simple moving average of $58.34 and a two-hundred day simple moving average of $68.66.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business had revenue of $881.50 million during the quarter, compared to analysts’ expectations of $843.54 million. During the same period in the prior year, the business earned ($1.38) EPS. The business’s revenue for the quarter was up 19.0% compared to the same quarter last year. On average, equities analysts anticipate that Roku, Inc. will post -1.94 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the sale, the director now directly owns 3,259 shares in the company, valued at approximately $188,630.92. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, SVP Stephen H. Kay sold 12,124 shares of the company’s stock in a transaction on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the sale, the senior vice president now directly owns 91,905 shares in the company, valued at approximately $5,108,998.95. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mai Fyfield sold 650 shares of the stock in a transaction dated Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the completion of the sale, the director now owns 3,259 shares of the company’s stock, valued at $188,630.92. The disclosure for this sale can be found here. Insiders sold 23,691 shares of company stock worth $1,334,455 in the last three months. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. GAMMA Investing LLC purchased a new stake in Roku in the fourth quarter valued at about $27,000. Creative Financial Designs Inc. ADV purchased a new stake in Roku in the fourth quarter valued at about $29,000. Quarry LP raised its stake in Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after buying an additional 266 shares during the last quarter. Headinvest LLC purchased a new stake in Roku in the third quarter valued at about $42,000. Finally, Allspring Global Investments Holdings LLC raised its stake in Roku by 1,822.6% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 596 shares of the company’s stock valued at $55,000 after buying an additional 565 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.