Roku (NASDAQ:ROKU) Stock Price Up 3.8% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares rose 3.8% during trading on Friday . The stock traded as high as $77.40 and last traded at $76.61. Approximately 1,669,279 shares changed hands during trading, a decline of 55% from the average daily volume of 3,675,507 shares. The stock had previously closed at $73.82.

Analyst Ratings Changes

ROKU has been the topic of several research analyst reports. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $70.00 price target on the stock in a research report on Tuesday, March 4th. JMP Securities lifted their price target on Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a research report on Friday, February 14th. UBS Group boosted their target price on Roku from $73.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 14th. JPMorgan Chase & Co. boosted their target price on Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. Finally, Rosenblatt Securities reissued a “neutral” rating and issued a $86.00 target price on shares of Roku in a report on Thursday, February 13th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and an average target price of $96.71.

Roku Price Performance

The stock has a 50-day simple moving average of $80.89 and a 200 day simple moving average of $77.22. The company has a market capitalization of $11.43 billion, a PE ratio of -87.97 and a beta of 2.12.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. As a group, research analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the sale, the chief financial officer now directly owns 68,843 shares in the company, valued at $5,163,225. This represents a 1.43 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $2,510,000.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares in the company, valued at $2,664,415.20. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 97,908 shares of company stock worth $8,633,436. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently made changes to their positions in ROKU. Entropy Technologies LP increased its stake in Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock valued at $1,898,000 after purchasing an additional 18,520 shares during the last quarter. Holocene Advisors LP acquired a new position in Roku in the third quarter valued at $129,015,000. National Bank of Canada FI increased its stake in Roku by 11,626.3% in the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after purchasing an additional 149,514 shares during the last quarter. Charles Schwab Investment Management Inc. increased its stake in Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after purchasing an additional 34,898 shares during the last quarter. Finally, Achmea Investment Management B.V. increased its stake in Roku by 146.4% in the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock valued at $756,000 after purchasing an additional 6,042 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.