Roku (NASDAQ:ROKU) Shares Up 3.9% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price rose 3.9% during mid-day trading on Tuesday . The company traded as high as $87.77 and last traded at $87.68. Approximately 3,242,879 shares traded hands during mid-day trading, a decline of 15% from the average daily volume of 3,818,756 shares. The stock had previously closed at $84.42.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several recent analyst reports. Weiss Ratings upgraded shares of Roku from a “sell (d-)” rating to a “hold (c-)” rating in a research note on Tuesday, February 17th. Guggenheim increased their price objective on Roku from $110.00 to $115.00 and gave the company a “buy” rating in a report on Thursday, December 4th. Rosenblatt Securities upgraded Roku from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $106.00 to $118.00 in a research note on Friday, February 13th. Citizens Jmp reaffirmed a “market outperform” rating and set a $145.00 target price on shares of Roku in a research report on Tuesday, December 2nd. Finally, Wedbush increased their price target on Roku from $130.00 to $140.00 and gave the company an “outperform” rating in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $123.96.

Roku Trading Up 3.9%

The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of 153.83 and a beta of 1.99. The firm has a 50-day moving average of $101.88 and a 200-day moving average of $99.11.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, February 12th. The company reported $0.53 earnings per share for the quarter, beating the consensus estimate of $0.28 by $0.25. The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.35 billion. Roku had a return on equity of 3.40% and a net margin of 1.87%.The company’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) EPS. On average, equities research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insider Transactions at Roku

In other Roku news, Director Neil D. Hunt sold 2,000 shares of Roku stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.48, for a total transaction of $192,960.00. Following the completion of the sale, the director directly owned 7,782 shares in the company, valued at approximately $750,807.36. The trade was a 20.45% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, insider Gilbert Fuchsberg sold 3,250 shares of the company’s stock in a transaction on Friday, December 12th. The shares were sold at an average price of $108.78, for a total transaction of $353,535.00. Following the completion of the sale, the insider directly owned 59,094 shares in the company, valued at $6,428,245.32. This trade represents a 5.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 219,710 shares of company stock valued at $22,761,608 over the last quarter. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Vanguard Group Inc. boosted its holdings in Roku by 2.5% in the third quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock valued at $1,301,557,000 after purchasing an additional 322,858 shares during the last quarter. AQR Capital Management LLC boosted its stake in shares of Roku by 10.6% in the fourth quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock worth $310,298,000 after buying an additional 274,024 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Roku by 41.2% in the second quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock worth $236,545,000 after buying an additional 785,864 shares during the last quarter. Geode Capital Management LLC grew its holdings in Roku by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after acquiring an additional 168,214 shares during the period. Finally, Tableaux LLC purchased a new position in Roku during the second quarter valued at approximately $1,746,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.