Roku (NASDAQ:ROKU) Trading 0% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) traded up 0% during mid-day trading on Thursday . The stock traded as high as $87.00 and last traded at $85.58. 661,470 shares traded hands during mid-day trading, a decline of 82% from the average session volume of 3,664,415 shares. The stock had previously closed at $85.57.

Wall Street Analysts Forecast Growth

Several analysts have recently issued reports on the stock. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Loop Capital boosted their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Wedbush reaffirmed an “outperform” rating and set a $100.00 price objective on shares of Roku in a research note on Monday, February 10th. Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $74.00 to $129.00 in a research note on Friday, February 14th. Finally, JMP Securities boosted their price objective on shares of Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research note on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

Roku Trading Up 2.5 %

The stock has a market capitalization of $12.19 billion, a P/E ratio of -93.83 and a beta of 2.05. The stock’s fifty day moving average price is $82.14 and its two-hundred day moving average price is $76.08.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. As a group, analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the completion of the sale, the chief financial officer now directly owns 64,555 shares in the company, valued at $5,340,635.15. This represents a 1.53 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Friday, February 14th. The stock was sold at an average price of $100.40, for a total transaction of $2,510,000.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,664,415.20. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 109,432 shares of company stock worth $9,661,783 in the last three months. 13.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. raised its holdings in Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. Vision Financial Markets LLC bought a new position in Roku in the 4th quarter worth $30,000. Raelipskie Partnership purchased a new stake in shares of Roku in the 3rd quarter worth about $32,000. Game Plan Financial Advisors LLC purchased a new stake in shares of Roku in the 4th quarter worth about $37,000. Finally, Harvest Fund Management Co. Ltd grew its position in shares of Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after buying an additional 491 shares during the period. 86.30% of the stock is currently owned by institutional investors.

About Roku

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.