Roku (NASDAQ:ROKU) Trading Up 5.2% – Here’s Why

Roku, Inc. (NASDAQ:ROKU) traded up 5.2% during trading on Wednesday . The company traded as high as $92.69 and last traded at $92.28. 3,830,590 shares changed hands during mid-day trading, a decline of 0% from the average session volume of 3,838,915 shares. The stock had previously closed at $87.68.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on ROKU shares. Raymond James Financial restated a “market perform” rating on shares of Roku in a research report on Friday, October 31st. Needham & Company LLC restated a “buy” rating and issued a $110.00 price target on shares of Roku in a research report on Friday, February 13th. Moffett Nathanson reaffirmed a “neutral” rating and issued a $100.00 price target on shares of Roku in a report on Friday, February 13th. Wedbush boosted their price objective on Roku from $130.00 to $140.00 and gave the stock an “outperform” rating in a research note on Friday, February 13th. Finally, Susquehanna restated a “positive” rating and issued a $130.00 target price on shares of Roku in a report on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and four have issued a Hold rating to the company’s stock. According to MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and a consensus target price of $123.96.

Roku Stock Up 5.2%

The stock has a 50-day simple moving average of $101.41 and a 200 day simple moving average of $99.14. The company has a market cap of $13.60 billion, a PE ratio of 161.90 and a beta of 1.99.

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

Insider Activity at Roku

In related news, insider Gilbert Fuchsberg sold 3,250 shares of Roku stock in a transaction that occurred on Friday, December 12th. The shares were sold at an average price of $108.78, for a total value of $353,535.00. Following the completion of the sale, the insider owned 59,094 shares in the company, valued at approximately $6,428,245.32. This trade represents a 5.21% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Neil D. Hunt sold 2,000 shares of the company’s stock in a transaction on Monday, February 2nd. The stock was sold at an average price of $96.48, for a total value of $192,960.00. Following the transaction, the director owned 7,782 shares in the company, valued at $750,807.36. This trade represents a 20.45% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders sold 219,710 shares of company stock worth $22,761,608. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Institutional investors and hedge funds have recently bought and sold shares of the business. Vanguard Group Inc. boosted its stake in shares of 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 period. AQR Capital Management LLC boosted its position in Roku by 10.6% in the 4th quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock valued at $310,298,000 after buying an additional 274,024 shares during the period. Acadian Asset Management LLC grew 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 acquiring an additional 785,864 shares in the last quarter. Geode Capital Management LLC grew its stake in shares of Roku by 7.3% in 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 in the last quarter. Finally, Tableaux LLC purchased a new stake in shares of Roku during the second quarter worth $1,746,000. 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.