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

Roku, Inc. (NASDAQ:ROKU) shares traded up 1.2% during mid-day trading on Tuesday . The stock traded as high as $138.58 and last traded at $138.14. 3,602,179 shares changed hands during mid-day trading, a decline of 7% from the average daily volume of 3,871,384 shares. The stock had previously closed at $136.53.

Analyst Upgrades and Downgrades

ROKU has been the subject of several recent analyst reports. UBS Group set a $160.00 price objective on shares of Roku in a report on Monday, June 15th. Citigroup restated an “outperform” rating on shares of Roku in a research note on Monday, June 15th. Needham & Company LLC increased their price target on shares of Roku from $140.00 to $170.00 and gave the stock a “buy” rating in a research report on Monday, June 15th. Susquehanna downgraded Roku from a “positive” rating to a “neutral” rating and set a $160.00 price target for the company. in a research note on Tuesday, June 16th. Finally, Piper Sandler lowered Roku from an “overweight” rating to a “neutral” rating and boosted their price objective for the company from $148.00 to $160.00 in a report on Tuesday, June 16th. Eleven equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $153.71.

Roku Price Performance

The business’s fifty day simple moving average is $126.30 and its 200 day simple moving average is $109.37. The stock has a market cap of $20.37 billion, a price-to-earnings ratio of 103.87 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its 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 for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company earned ($0.19) earnings per share. The firm’s revenue was up 22.4% compared to the same quarter last year. As a group, equities analysts forecast that Roku, Inc. will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 20,537 shares of Roku stock in a transaction that occurred on Thursday, June 4th. The stock was sold at an average price of $124.94, for a total value of $2,565,892.78. Following the completion of the transaction, the insider directly owned 15,200 shares in the company, valued at $1,899,088. The trade was a 57.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the company’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $144.00, for a total value of $1,467,936.00. Following the transaction, the insider directly owned 19,185 shares of the company’s stock, valued at $2,762,640. This trade represents a 34.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 713,194 shares of company stock worth $81,763,589. 13.45% of the stock is owned by company insiders.

Institutional Trading of Roku

Several hedge funds have recently made changes to their positions in ROKU. Empowered Funds LLC lifted its stake in Roku by 18.6% in the first quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock valued at $232,000 after buying an additional 515 shares during the last quarter. Focus Partners Wealth acquired a new position in shares of Roku during the first quarter valued at $229,000. EverSource Wealth Advisors LLC grew its position in shares of Roku by 145.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,394 shares of the company’s stock worth $123,000 after acquiring an additional 826 shares during the last quarter. First Trust Advisors LP grew its position in shares of Roku by 231.0% during the second quarter. First Trust Advisors LP now owns 70,786 shares of the company’s stock worth $6,221,000 after acquiring an additional 49,399 shares during the last quarter. Finally, Brown Advisory Inc. acquired a new stake in shares of Roku in the 2nd quarter worth about $326,000. Institutional investors 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.