Roku (NASDAQ:ROKU) Stock Price Up 1.2% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s share price shot up 1.2% on Monday . The stock traded as high as $142.87 and last traded at $142.34. Approximately 2,888,253 shares were traded during mid-day trading, a decline of 25% from the average daily volume of 3,845,385 shares. The stock had previously closed at $140.69.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Pivotal Research reiterated a “buy” rating and issued a $160.00 price target (up from $140.00) on shares of Roku in a report on Friday, May 1st. Wedbush lowered shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target for the company. in a report on Tuesday, June 16th. Citigroup reissued an “outperform” rating on shares of Roku in a report on Monday, June 15th. William Blair cut Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Finally, Susquehanna lowered Roku from a “positive” rating to a “neutral” rating and set a $160.00 target price on the stock. in a research report on Tuesday, June 16th. Eleven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $153.71.

Roku Stock Down 0.4%

The business’s 50 day moving average is $131.77 and its two-hundred day moving average is $111.86. The firm has a market capitalization of $20.90 billion, a P/E ratio of 106.59 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 for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the business posted ($0.19) EPS. The business’s revenue for the quarter was up 22.4% compared to the same quarter last year. As a group, equities analysts anticipate that Roku, Inc. will post 2.41 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Charles Collier sold 20,538 shares of the business’s stock in a transaction that occurred on Monday, July 6th. The shares were sold at an average price of $142.51, for a total value of $2,926,870.38. Following the sale, the insider directly owned 15,200 shares in the company, valued at $2,166,152. The trade was a 57.47% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, 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 transaction of $281,300.00. Following the completion of the transaction, the director owned 9,629 shares in the company, valued at approximately $1,354,318.85. This trade represents a 17.20% 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. Insiders sold 470,737 shares of company stock worth $57,383,511 in the last ninety days. Insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of large investors have recently made changes to their positions in ROKU. Blue Trust Inc. raised its stake in Roku by 680.0% during the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after purchasing an additional 204 shares during the period. Aventura Private Wealth LLC acquired a new position in shares of Roku in the 4th quarter valued at about $26,000. Bayban boosted its holdings in shares of Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after purchasing an additional 260 shares during the period. WPG Advisers LLC acquired a new position in Roku in the 4th quarter valued at approximately $31,000. Finally, Safe Harbor Fiduciary LLC purchased a new stake in Roku in the 4th quarter worth approximately $31,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

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.