Roku (NASDAQ:ROKU) Shares Gap Up to $58.66

Roku, Inc. (NASDAQ:ROKU) shares gapped up before the market opened on Tuesday . The stock had previously closed at $58.66, but opened at $60.12. Roku shares last traded at $59.79, with a volume of 2,722,115 shares traded.

Analyst Ratings Changes

ROKU has been the subject of a number of analyst reports. Morgan Stanley lowered their target price on shares of Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a report on Friday, April 5th. Wells Fargo & Company lifted their price target on shares of Roku from $45.00 to $52.00 and gave the stock an “underweight” rating in a research report on Friday, April 26th. Citigroup reduced their price target on shares of Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a research report on Tuesday. Pivotal Research reduced their price target on shares of Roku from $85.00 to $75.00 and set a “hold” rating on the stock in a research report on Friday, February 16th. Finally, Oppenheimer cut shares of Roku from an “outperform” rating to a “market perform” rating in a research report on Friday, February 16th. Three analysts have rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $84.21.

Roku Stock Performance

The firm’s 50-day simple moving average is $62.24 and its 200 day simple moving average is $78.31. The stock has a market capitalization of $8.49 billion, a P/E ratio of -14.82 and a beta of 1.69.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 25th. The company reported ($0.35) EPS for the quarter, topping the consensus estimate of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. During the same period in the previous year, the firm posted ($1.38) EPS. The company’s revenue for the quarter was up 19.0% on a year-over-year basis. As a group, research analysts expect that Roku, Inc. will post -1.98 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, SVP Stephen H. Kay sold 4,310 shares of the business’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the transaction, the senior vice president now directly owns 81,459 shares in the company, valued at approximately $5,148,208.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Charles Collier sold 4,182 shares of the company’s stock in a transaction dated Friday, March 8th. The shares were sold at an average price of $65.00, for a total value of $271,830.00. Following the transaction, the insider now owns 8,474 shares in the company, valued at approximately $550,810. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, SVP Stephen H. Kay sold 4,310 shares of the company’s stock in a transaction dated Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now owns 81,459 shares in the company, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. Insiders have sold 54,545 shares of company stock worth $4,364,035 in the last ninety days. Insiders own 13.63% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Gotham Asset Management LLC grew its stake in Roku by 200.3% in the 3rd quarter. Gotham Asset Management LLC now owns 41,128 shares of the company’s stock valued at $2,903,000 after buying an additional 27,431 shares during the last quarter. Nordea Investment Management AB grew its stake in Roku by 8.2% in the 4th quarter. Nordea Investment Management AB now owns 7,247 shares of the company’s stock valued at $669,000 after buying an additional 551 shares during the last quarter. Barclays PLC grew its stake in Roku by 13.0% in the 3rd quarter. Barclays PLC now owns 215,766 shares of the company’s stock valued at $15,231,000 after buying an additional 24,765 shares during the last quarter. Deutsche Bank AG grew its position in shares of Roku by 27.6% during the 3rd quarter. Deutsche Bank AG now owns 154,729 shares of the company’s stock worth $10,922,000 after purchasing an additional 33,500 shares in the last quarter. Finally, Vontobel Holding Ltd. grew its position in shares of Roku by 32.4% during the 4th quarter. Vontobel Holding Ltd. now owns 79,771 shares of the company’s stock worth $7,312,000 after purchasing an additional 19,543 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

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.