Roku (NASDAQ:ROKU) Shares Gap Up to $63.55

Roku, Inc. (NASDAQ:ROKU)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $63.55, but opened at $66.85. Roku shares last traded at $68.14, with a volume of 1,184,632 shares.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on ROKU shares. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Roku in a report on Thursday, June 20th. Macquarie lowered their price objective on shares of Roku from $88.00 to $72.00 and set an “outperform” rating for the company in a research note on Friday, August 2nd. JPMorgan Chase & Co. dropped their target price on shares of Roku from $90.00 to $80.00 and set an “overweight” rating for the company in a report on Friday, August 2nd. Benchmark restated a “buy” rating and set a $105.00 price target on shares of Roku in a report on Friday, August 2nd. Finally, Bank of America lowered their price target on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research report on Friday, August 2nd. Three research analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $79.00.

Roku Stock Performance

The business’s 50-day moving average is $61.00 and its 200-day moving average is $60.60. The company has a market capitalization of $9.31 billion, a PE ratio of -16.13 and a beta of 2.06.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The business had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. During the same quarter last year, the firm earned ($0.76) earnings per share. The business’s revenue for the quarter was up 14.3% on a year-over-year basis. Analysts expect that Roku, Inc. will post -1.45 EPS for the current year.

Insiders Place Their Bets

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction that occurred on Thursday, June 13th. The stock was sold at an average price of $55.59, for a total transaction of $673,973.16. Following the completion of the transaction, the senior vice president now owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The disclosure for this sale can be found here. Over the last three months, insiders have sold 18,265 shares of company stock valued at $1,067,351. 13.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

A number of large investors have recently made changes to their positions in the stock. Swedbank AB purchased a new position in Roku in the first quarter worth about $1,180,000. Vanguard Personalized Indexing Management LLC grew its position in shares of Roku by 8.7% during the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock valued at $1,043,000 after acquiring an additional 914 shares during the period. SG Americas Securities LLC increased its stake in shares of Roku by 238.6% in the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after purchasing an additional 51,815 shares in the last quarter. Norges Bank bought a new position in Roku in the 4th quarter worth $90,386,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. lifted its position in Roku by 23.3% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after purchasing an additional 11,851 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.