Roku (NASDAQ:ROKU) Shares Up 4.9% – Here’s Why

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 4.9% during mid-day trading on Monday . The stock traded as high as $98.93 and last traded at $97.81. 2,566,956 shares traded hands during mid-day trading, a decline of 29% from the average session volume of 3,610,590 shares. The stock had previously closed at $93.27.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of research analyst reports. Piper Sandler reissued an “overweight” rating and issued a $140.00 target price (up from $135.00) on shares of Roku in a report on Friday, February 13th. Stifel Nicolaus set a $160.00 price objective on Roku in a research report on Monday, March 2nd. Wells Fargo & Company lifted their price objective on Roku from $116.00 to $137.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. Evercore reissued an “outperform” rating and issued a $150.00 target price on shares of Roku in a research report on Friday, February 13th. Finally, Moffett Nathanson restated a “neutral” rating and set a $100.00 target price on shares of Roku in a research note on Friday, February 13th. One research analyst has rated the stock with a Strong Buy rating, twenty-two have issued a Buy rating and four have given a Hold rating to the company. Based on data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average price target of $125.40.

Roku Trading Up 4.9%

The stock has a market capitalization of $14.42 billion, a PE ratio of 171.60 and a beta of 1.98. The stock has a 50 day moving average price of $96.40 and a 200-day moving average price of $99.70.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, February 12th. The company reported $0.53 EPS for the quarter, beating analysts’ consensus estimates of $0.28 by $0.25. The company had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Roku had a return on equity of 3.40% and a net margin of 1.87%.Roku’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.24) earnings per share. Research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $94.23, for a total transaction of $1,413,450.00. Following the completion of the sale, the chief financial officer directly owned 85,115 shares in the company, valued at approximately $8,020,386.45. The trade was a 14.98% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gilbert Fuchsberg sold 3,250 shares of the company’s stock in a transaction that occurred on Tuesday, March 3rd. The shares were sold at an average price of $95.57, for a total transaction of $310,602.50. Following the sale, the insider directly owned 60,456 shares of the company’s stock, valued at approximately $5,777,779.92. This represents a 5.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 213,124 shares of company stock valued at $21,433,878 in the last 90 days. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Hedge funds and other institutional investors have recently modified their holdings of the stock. Empowered Funds LLC lifted its position in Roku by 18.6% during the first quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock valued at $232,000 after purchasing an additional 515 shares in the last quarter. Focus Partners Wealth purchased a new position in shares of Roku during the 1st quarter valued at about $229,000. PNC Financial Services Group Inc. grew its stake in shares of Roku by 23.3% during the 2nd quarter. PNC Financial Services Group Inc. now owns 3,893 shares of the company’s stock valued at $342,000 after acquiring an additional 736 shares during the period. Creative Planning increased its holdings in Roku by 5.1% in the 2nd quarter. Creative Planning now owns 17,967 shares of the company’s stock worth $1,579,000 after acquiring an additional 879 shares in the last quarter. Finally, Intech Investment Management LLC increased its holdings in Roku by 168.6% in the 2nd quarter. Intech Investment Management LLC now owns 18,692 shares of the company’s stock worth $1,643,000 after acquiring an additional 11,732 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.