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

Roku, Inc. (NASDAQ:ROKU)’s stock price was up 1.1% during trading on Wednesday . The stock traded as high as $143.56 and last traded at $143.32. Approximately 3,221,480 shares traded hands during trading, a decline of 16% from the average session volume of 3,830,563 shares. The stock had previously closed at $141.76.

Analyst Ratings Changes

Several equities research analysts recently issued reports on ROKU shares. Pivotal Research reissued a “buy” rating and set a $160.00 price objective (up from $140.00) on shares of Roku in a research note on Friday, May 1st. Robert W. Baird reaffirmed a “neutral” rating and issued a $160.00 price target on shares of Roku in a report on Monday, June 15th. Seaport Research Partners set a $155.00 price target on Roku in a research report on Tuesday, June 16th. Susquehanna lowered Roku from a “positive” rating to a “neutral” rating and set a $160.00 price objective for the company. in a report on Tuesday, June 16th. Finally, William Blair cut shares of Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Eleven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $153.71.

Roku Price Performance

The stock has a 50 day moving average of $131.77 and a 200 day moving average of $111.86. The firm has a market cap of $21.13 billion, a P/E ratio of 107.76 and a beta of 2.01.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.34 by $0.23. The firm had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. Roku had a return on equity of 7.64% and a net margin of 4.06%.The company’s revenue was up 22.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.19) earnings per share. On average, research analysts predict that Roku, Inc. will post 2.41 EPS for the current fiscal 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 Wednesday, July 1st. The stock was sold at an average price of $140.65, for a total value of $281,300.00. Following the transaction, the director directly owned 9,629 shares of the company’s stock, valued at $1,354,318.85. The trade was a 17.20% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of the stock in a transaction on Monday, June 15th. The shares were sold at an average price of $143.87, for a total transaction of $1,007,090.00. Following the sale, the chief financial officer directly owned 79,963 shares of the company’s stock, valued at $11,504,276.81. The trade was a 8.05% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 470,737 shares of company stock worth $57,383,511. Corporate insiders own 13.45% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors have recently modified their holdings of the company. Jefferies Financial Group Inc. purchased a new stake in Roku in the fourth quarter worth about $1,345,000. Moran Wealth Management LLC purchased a new position in shares of Roku during the first quarter valued at approximately $2,990,000. MH & Associates Securities Management Corp ADV bought a new stake in shares of Roku in the 4th quarter worth approximately $2,398,000. Maxi Investments CY Ltd bought a new stake in shares of Roku in the 4th quarter worth approximately $1,953,000. Finally, Burney Co. purchased a new stake in shares of Roku in the 4th quarter worth approximately $2,657,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.