Roku (NASDAQ:ROKU) Trading Up 6.1%

Roku, Inc. (NASDAQ:ROKU)’s share price shot up 6.1% on Thursday . The stock traded as high as $68.38 and last traded at $67.45. 1,654,171 shares were traded during mid-day trading, a decline of 64% from the average session volume of 4,614,303 shares. The stock had previously closed at $63.55.

Analyst Ratings Changes

Several brokerages have commented on ROKU. Wedbush reiterated an “outperform” rating and set a $75.00 target price on shares of Roku in a research note on Friday, August 2nd. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research note on Friday, August 23rd. Wells Fargo & Company upgraded shares of Roku from an “underweight” rating to an “equal weight” rating and lifted their price objective for the company from $50.00 to $72.00 in a research report on Thursday. Bank of America cut their target price on shares of Roku from $85.00 to $75.00 and set a “buy” rating for the company in a report on Friday, August 2nd. Finally, Rosenblatt Securities decreased their price objective on Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Three equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, Roku has a consensus rating of “Hold” and a consensus price target of $79.00.

Roku Trading Down 3.5 %

The stock has a market cap of $9.31 billion, a price-to-earnings ratio of -16.13 and a beta of 2.06. The stock has a fifty day simple moving average of $61.00 and a 200-day simple moving average of $60.60.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business’s revenue for the quarter was up 14.3% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.76) earnings per share. Sell-side analysts forecast that Roku, Inc. will post -1.45 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, 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 document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Collier sold 3,590 shares of Roku stock in a transaction that occurred on Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the transaction, the insider now owns 12,064 shares of the company’s stock, valued at $784,160. The disclosure for this sale can be found here. Insiders have sold 18,265 shares of company stock worth $1,067,351 in the last three months. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the stock. Granite Bay Wealth Management LLC bought a new stake in Roku during the 2nd quarter worth approximately $1,142,000. Quarry LP grew its holdings in Roku by 127.9% in the second quarter. Quarry LP now owns 1,682 shares of the company’s stock worth $101,000 after purchasing an additional 944 shares during the period. Algert Global LLC increased its position in Roku by 144.4% in the 2nd quarter. Algert Global LLC now owns 55,177 shares of the company’s stock valued at $3,307,000 after buying an additional 32,603 shares in the last quarter. Empirical Capital Management LLC raised its position in shares of Roku by 10.0% during the second quarter. Empirical Capital Management LLC now owns 177,000 shares of the company’s stock worth $10,608,000 after purchasing an additional 16,031 shares during the period. Finally, Susquehanna Fundamental Investments LLC bought a new position in Roku in the 2nd quarter valued at about $3,437,000. Institutional investors own 86.30% of the company’s stock.

About Roku

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.