Roku (NASDAQ:ROKU) Stock Price Up 2.1%

Roku, Inc. (NASDAQ:ROKU) shot up 2.1% during mid-day trading on Wednesday . The company traded as high as $62.88 and last traded at $62.64. 811,200 shares changed hands during mid-day trading, a decline of 84% from the average session volume of 4,940,806 shares. The stock had previously closed at $61.36.

Analysts Set New Price Targets

A number of brokerages recently issued reports on ROKU. Rosenblatt Securities restated a “neutral” rating and issued a $89.00 target price on shares of Roku in a report on Friday, April 26th. Citigroup decreased their target price on Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Benchmark lowered their price target on Roku from $115.00 to $105.00 and set a “buy” rating on the stock in a report on Friday, April 26th. Susquehanna lowered their price target on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a report on Monday, April 29th. Finally, Wells Fargo & Company lifted their price target on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a report on Friday, April 26th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the company. According to data from MarketBeat.com, Roku currently has an average rating of “Hold” and an average target price of $82.50.

Roku Price Performance

The business has a 50 day moving average price of $58.01 and a 200 day moving average price of $69.72.

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

Insider Activity at Roku

In related news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total transaction of $409,532.43. Following the transaction, the insider now directly owns 15,654 shares in the company, valued at $892,747.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Charles Collier sold 7,181 shares of the business’s stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total transaction of $409,532.43. Following the transaction, the insider now directly owns 15,654 shares in the company, valued at $892,747.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Stephen H. Kay sold 3,322 shares of the business’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total value of $189,652.98. Following the transaction, the senior vice president now owns 82,036 shares in the company, valued at $4,683,435.24. The disclosure for this sale can be found here. Insiders have sold 23,691 shares of company stock worth $1,334,455 over the last three months. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Large investors have recently modified their holdings of the stock. GAMMA Investing LLC bought a new stake in shares of Roku in the 4th quarter valued at approximately $27,000. Creative Financial Designs Inc. ADV bought a new stake in shares of Roku in the 4th quarter valued at approximately $29,000. Quarry LP grew 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 period. Federated Hermes Inc. acquired a new position in shares of Roku in the 3rd quarter worth approximately $37,000. Finally, Headinvest LLC acquired a new position in shares of Roku in the 3rd quarter worth approximately $42,000. 86.30% of the stock is currently owned by 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.