Roku (NASDAQ:ROKU) Trading Up 0.1% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) rose 0.1% on Tuesday . The company traded as high as $82.34 and last traded at $81.32. Approximately 664,378 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 3,693,114 shares. The stock had previously closed at $81.23.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on ROKU. Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $74.00 to $129.00 in a research note on Friday, February 14th. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Loop Capital lifted their price target on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Bank of America upped their price objective on Roku from $90.00 to $120.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $86.00 target price on shares of Roku in a report on Thursday, February 13th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, sixteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $97.67.

Roku Trading Down 0.0 %

The firm has a market cap of $11.85 billion, a P/E ratio of -91.24 and a beta of 2.12. The business has a 50-day moving average price of $80.98 and a 200-day moving average price of $77.42.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roku news, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the completion of the sale, the insider now directly owns 7,380 shares in the company, valued at $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now directly owns 68,843 shares in the company, valued at approximately $5,163,225. The trade was a 1.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,908 shares of company stock worth $8,633,436 over the last 90 days. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. Entropy Technologies LP boosted its holdings in Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after acquiring an additional 18,520 shares in the last quarter. Holocene Advisors LP acquired a new stake in Roku in the 3rd quarter worth approximately $129,015,000. National Bank of Canada FI grew its position in Roku by 11,626.3% during the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock worth $11,259,000 after purchasing an additional 149,514 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Roku by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after purchasing an additional 34,898 shares in the last quarter. Finally, Achmea Investment Management B.V. increased its stake in Roku by 146.4% during the 4th quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock valued at $756,000 after purchasing an additional 6,042 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other 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.