Roku (NASDAQ:ROKU) Trading 3.7% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price traded up 3.7% during mid-day trading on Wednesday . The company traded as high as $98.95 and last traded at $97.51. 4,546,742 shares changed hands during mid-day trading, an increase of 18% from the average session volume of 3,855,676 shares. The stock had previously closed at $94.07.

Wall Street Analyst Weigh In

ROKU has been the subject of several analyst reports. Needham & Company LLC reiterated a “buy” rating and set a $110.00 price objective on shares of Roku in a report on Friday, February 13th. Citigroup reissued a “market outperform” rating on shares of Roku in a report on Monday. Wall Street Zen raised shares of Roku from a “hold” rating to a “buy” rating in a research report on Sunday, December 7th. Piper Sandler reissued an “overweight” rating and set a $140.00 target price (up from $135.00) on shares of Roku in a research report on Friday, February 13th. Finally, Moffett Nathanson reiterated a “neutral” rating and set a $100.00 price objective on shares of Roku in a research note on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $125.40.

Roku Price Performance

The stock has a market cap of $14.38 billion, a PE ratio of 171.07 and a beta of 1.98. The stock’s fifty day moving average is $99.99 and its 200-day moving average is $99.45.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Thursday, February 12th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.28 by $0.25. Roku had a net margin of 1.87% and a return on equity of 3.40%. The firm had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.35 billion. During the same quarter in the previous year, the company earned ($0.24) EPS. The business’s revenue for the quarter was up 16.1% compared to the same quarter last year. On average, sell-side analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Activity at Roku

In related news, Director Neil D. Hunt sold 2,000 shares of the stock in a transaction that occurred on Monday, February 2nd. The shares were sold at an average price of $96.48, for a total transaction of $192,960.00. Following the completion of the transaction, the director owned 7,782 shares of the company’s stock, valued at approximately $750,807.36. This trade represents a 20.45% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Gilbert Fuchsberg sold 3,250 shares of the company’s stock in a transaction that occurred on Friday, December 12th. The stock was sold at an average price of $108.78, for a total transaction of $353,535.00. Following the sale, the insider directly owned 59,094 shares in the company, valued at approximately $6,428,245.32. The trade was a 5.21% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 216,979 shares of company stock worth $22,499,335. 13.98% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. grew its position in shares of Roku by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock valued at $1,301,557,000 after buying an additional 322,858 shares during the last quarter. AQR Capital Management LLC raised its stake in shares of Roku by 10.6% during the fourth quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock worth $310,298,000 after purchasing an additional 274,024 shares during the last quarter. Acadian Asset Management LLC raised its position in Roku by 41.2% during the 2nd quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock worth $236,545,000 after buying an additional 785,864 shares during the last quarter. Geode Capital Management LLC lifted its position in Roku by 7.3% in the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock valued at $267,389,000 after purchasing an additional 168,214 shares during the period. Finally, Tableaux LLC purchased a new stake in shares of Roku in the second quarter valued at approximately $1,746,000. 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.