Roku (NASDAQ:ROKU) Stock Price Up 1.5%

Roku, Inc. (NASDAQ:ROKU) shares rose 1.5% during trading on Thursday . The stock traded as high as $58.47 and last traded at $58.47. Approximately 884,787 shares traded hands during trading, a decline of 84% from the average daily volume of 5,671,000 shares. The stock had previously closed at $57.59.

Analysts Set New Price Targets

ROKU has been the topic of several research reports. Wedbush reduced their price objective on Roku from $120.00 to $80.00 and set an “outperform” rating on the stock in a report on Friday. Pivotal Research reduced their price objective on Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a report on Friday, February 16th. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Wednesday, February 21st. Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a report on Friday, February 16th. Finally, Stephens restated an “overweight” rating and set a $105.00 price objective on shares of Roku in a report on Friday, February 16th. Five research analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $84.76.

Roku Price Performance

The stock has a 50-day moving average price of $66.47 and a two-hundred day moving average price of $78.93.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 15th. The company reported ($0.55) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.65) by $0.10. The firm had revenue of $984.40 million during the quarter, compared to analysts’ expectations of $967.72 million. Roku had a negative return on equity of 29.21% and a negative net margin of 20.36%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm earned ($1.70) EPS. Research analysts expect that Roku, Inc. will post -2.12 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total transaction of $2,466,000.00. Following the completion of the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other Roku news, insider Charles Collier sold 12,277 shares of Roku stock in a transaction dated Thursday, February 22nd. The stock was sold at an average price of $65.06, for a total transaction of $798,741.62. Following the completion of the sale, the insider now owns 4,292 shares of the company’s stock, valued at approximately $279,237.52. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the sale, the chief executive officer now directly owns 141,221 shares of the company’s stock, valued at approximately $13,930,039.44. The disclosure for this sale can be found here. In the last 90 days, insiders sold 54,545 shares of company stock valued at $4,364,035. 13.63% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors have recently modified their holdings of ROKU. FMR LLC raised its stake in shares of Roku by 85.9% during the 3rd quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after buying an additional 4,363,754 shares during the last quarter. Renaissance Technologies LLC raised its stake in shares of Roku by 772.1% during the 1st quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company’s stock valued at $351,771,000 after buying an additional 2,486,100 shares during the last quarter. Wellington Management Group LLP raised its stake in shares of Roku by 97.2% during the 1st quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock valued at $522,878,000 after buying an additional 2,057,633 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. raised its stake in shares of Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after buying an additional 1,457,925 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Roku during the 4th quarter valued at about $90,386,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.