Roku (NASDAQ:ROKU) Shares Gap Up to $58.66

Shares of Roku, Inc. (NASDAQ:ROKU) gapped up before the market opened on Tuesday . The stock had previously closed at $58.66, but opened at $60.12. Roku shares last traded at $59.79, with a volume of 2,722,115 shares traded.

Analysts Set New Price Targets

ROKU has been the subject of several research analyst reports. Pivotal Research reduced their target price on Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Seaport Res Ptn raised Roku from a “neutral” rating to a “buy” rating in a research note on Monday. Citigroup reduced their price objective on Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a research note on Tuesday. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Friday. Finally, Piper Sandler reissued a “neutral” rating and issued a $65.00 price objective (down from $81.00) on shares of Roku in a research note on Friday. Three equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, Roku currently has a consensus rating of “Hold” and a consensus target price of $84.21.

Roku Price Performance

The stock has a market capitalization of $8.48 billion, a PE ratio of -15.02 and a beta of 1.66. The stock has a 50 day moving average of $62.53 and a two-hundred day moving average of $78.50.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.64) by $0.29. The firm had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. Roku had a negative return on equity of 23.73% and a negative net margin of 15.64%. The company’s revenue for the quarter was up 19.0% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.38) earnings per share. As a group, research analysts predict that Roku, Inc. will post -2.12 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at $13,930,039.44. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at $13,930,039.44. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the sale, the senior vice president now directly owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 54,545 shares of company stock worth $4,364,035. 13.63% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently added to or reduced their stakes in ROKU. Handelsbanken Fonder AB grew its position in Roku by 8.1% during the third quarter. Handelsbanken Fonder AB now owns 21,300 shares of the company’s stock valued at $1,504,000 after acquiring an additional 1,600 shares during the period. Commonwealth Equity Services LLC boosted its position in shares of Roku by 209.1% in the third quarter. Commonwealth Equity Services LLC now owns 105,339 shares of the company’s stock worth $7,436,000 after buying an additional 71,257 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund boosted its position in shares of Roku by 68.0% in the third quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 29,400 shares of the company’s stock worth $2,075,000 after buying an additional 11,900 shares during the period. Robeco Institutional Asset Management B.V. boosted its position in shares of Roku by 147.3% in the third quarter. Robeco Institutional Asset Management B.V. now owns 14,924 shares of the company’s stock worth $1,053,000 after buying an additional 8,890 shares during the period. Finally, Raymond James & Associates boosted its position in shares of Roku by 2.6% in the third quarter. Raymond James & Associates now owns 33,950 shares of the company’s stock worth $2,397,000 after buying an additional 869 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.