Roku (NASDAQ:ROKU) Trading Up 3.3%

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 3.3% during trading on Monday . The company traded as high as $63.76 and last traded at $61.88. 2,143,958 shares traded hands during trading, a decline of 57% from the average session volume of 4,961,449 shares. The stock had previously closed at $59.93.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on ROKU. Benchmark lowered their price target on Roku from $115.00 to $105.00 and set a “buy” rating for the company in a report on Friday, April 26th. Rosenblatt Securities reiterated a “neutral” rating and issued a $89.00 target price on shares of Roku in a report on Friday, April 26th. Citigroup cut their price target on Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 30th. Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Thursday, June 20th. Finally, Susquehanna cut their target price on shares of Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Four equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $82.50.

Roku Stock Down 1.8 %

The company has a market capitalization of $8.85 billion, a PE ratio of -15.38 and a beta of 1.96. The business has a 50 day simple moving average of $58.01 and a 200 day simple moving average of $69.82.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, beating the consensus estimate of ($0.64) by $0.29. The firm had revenue of $881.50 million during the quarter, compared to analyst estimates of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. Roku’s revenue was up 19.0% on a year-over-year basis. During the same period last year, the firm posted ($1.38) EPS. Equities analysts expect that Roku, Inc. will post -1.94 EPS for the current fiscal year.

Insider Activity

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

Institutional Investors Weigh In On Roku

Several hedge funds have recently bought and sold shares of ROKU. GAMMA Investing LLC purchased a new position in Roku during the fourth quarter worth approximately $27,000. Creative Financial Designs Inc. ADV purchased a new position in shares of Roku during the 4th quarter valued at approximately $29,000. Quarry LP grew its stake in Roku by 160.2% in the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after acquiring an additional 266 shares during the period. Federated Hermes Inc. purchased a new stake in Roku in the 3rd quarter worth $37,000. Finally, Headinvest LLC acquired a new stake in shares of Roku in the third quarter valued at about $42,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.