Roku (NASDAQ:ROKU) Trading Up 1.2% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) was up 1.2% on Monday . The stock traded as high as $89.76 and last traded at $88.23. Approximately 2,064,046 shares were traded during mid-day trading, a decline of 41% from the average daily volume of 3,498,615 shares. The stock had previously closed at $87.15.

Analyst Ratings Changes

ROKU has been the topic of a number of recent research reports. Piper Sandler reiterated an “overweight” rating and set a $140.00 price target (up from $135.00) on shares of Roku in a research note on Friday, February 13th. Evercore restated an “outperform” rating and issued a $150.00 price objective on shares of Roku in a report on Friday, February 13th. Jefferies Financial Group raised shares of Roku from a “hold” rating to a “buy” rating and upped their target price for the stock from $100.00 to $135.00 in a research note on Thursday, December 11th. UBS Group reiterated a “neutral” rating and set a $110.00 target price on shares of Roku in a report on Friday, February 13th. Finally, Citigroup reissued a “market outperform” rating on shares of Roku in a research report on Monday, March 2nd. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $126.75.

Roku Stock Up 1.2%

The stock has a 50-day moving average price of $94.94 and a 200 day moving average price of $99.56. The firm has a market capitalization of $13.01 billion, a price-to-earnings ratio of 154.79 and a beta of 1.98.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, February 12th. The company reported $0.53 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.28 by $0.25. Roku had a net margin of 1.87% and a return on equity of 3.40%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.35 billion. During the same quarter in the previous year, the firm earned ($0.24) earnings per share. The firm’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 15,000 shares of Roku stock in a transaction 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 of the company’s stock, valued at approximately $8,020,386.45. The trade was a 14.98% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles Collier sold 1,715 shares of the stock in a transaction on Thursday, March 5th. The shares were sold at an average price of $100.00, for a total value of $171,500.00. Following the completion of the transaction, the insider directly owned 11,131 shares in the company, valued at $1,113,100. This trade represents a 13.35% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 213,124 shares of company stock worth $21,433,878. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the business. Hsbc Holdings PLC raised its position in shares of Roku by 21.2% during the 4th quarter. Hsbc Holdings PLC now owns 16,733 shares of the company’s stock worth $1,837,000 after acquiring an additional 2,929 shares in the last quarter. Rockefeller Capital Management L.P. boosted its holdings in Roku by 0.8% in the fourth quarter. Rockefeller Capital Management L.P. now owns 286,721 shares of the company’s stock valued at $31,106,000 after purchasing an additional 2,221 shares in the last quarter. Osbon Capital Management LLC acquired a new position in Roku in the fourth quarter valued at approximately $45,000. World Investment Advisors purchased a new position in Roku in the fourth quarter valued at approximately $291,000. Finally, Corient Private Wealth LLC raised its holdings in Roku by 75.1% during the fourth quarter. Corient Private Wealth LLC now owns 26,841 shares of the company’s stock worth $2,912,000 after purchasing an additional 11,508 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

About Roku

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.