Roku (NASDAQ:ROKU) Trading Up 1.1% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price shot up 1.1% during mid-day trading on Monday . The company traded as high as $126.11 and last traded at $123.57. 3,534,711 shares traded hands during trading, an increase of 16% from the average session volume of 3,047,245 shares. The stock had previously closed at $122.26.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Stifel Nicolaus set a $160.00 target price on Roku in a research report on Monday, March 2nd. Pivotal Research reaffirmed a “buy” rating and issued a $160.00 price target (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Citigroup reaffirmed a “market outperform” rating on shares of Roku in a research report on Thursday, May 28th. Citizens Jmp reissued a “market outperform” rating and issued a $170.00 target price on shares of Roku in a report on Thursday, May 28th. Finally, Robert W. Baird boosted their target price on shares of Roku from $130.00 to $160.00 and gave the company an “outperform” rating in a research report on Monday, May 11th. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.29.

Roku Trading Up 1.1%

The business has a 50-day moving average of $115.32 and a two-hundred day moving average of $105.21. The firm has a market cap of $18.22 billion, a P/E ratio of 92.91 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The firm had revenue of $1.25 billion during the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company posted ($0.19) EPS. The company’s revenue was up 22.4% on a year-over-year basis. As a group, equities analysts expect that Roku, Inc. will post 2.41 EPS for the current year.

Insider Activity

In other news, CEO Anthony J. Wood sold 75,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $128.79, for a total value of $9,659,250.00. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 205,821 shares of the stock in a transaction on Wednesday, April 8th. The stock was sold at an average price of $105.00, for a total transaction of $21,611,205.00. Following the sale, the insider owned 11,131 shares of the company’s stock, valued at approximately $1,168,755. This trade represents a 94.87% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 696,631 shares of company stock worth $77,636,680 in the last 90 days. 13.45% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in the business. Blue Trust Inc. lifted its position in shares of Roku by 680.0% during the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after acquiring an additional 204 shares during the period. Aventura Private Wealth LLC bought a new stake in Roku in the fourth quarter valued at $26,000. Bayban raised its holdings in shares of Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock valued at $26,000 after purchasing an additional 260 shares during the period. WPG Advisers LLC bought a new position in shares of Roku during the 4th quarter worth about $31,000. Finally, Safe Harbor Fiduciary LLC bought a new position in shares of Roku during the 4th quarter worth about $31,000. 86.30% of the stock is owned by institutional investors and hedge funds.

About Roku

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.