Roku (NASDAQ:ROKU) Trading Up 2.3% – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 2.3% during trading on Thursday . The stock traded as high as $120.11 and last traded at $119.64. 2,403,931 shares traded hands during trading, a decline of 21% from the average session volume of 3,038,410 shares. The stock had previously closed at $116.94.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on ROKU shares. Evercore reiterated an “outperform” rating and issued a $150.00 target price on shares of Roku in a research note on Friday, February 13th. Citizens Jmp reiterated a “market outperform” rating and set a $170.00 price target on shares of Roku in a report on Thursday, May 28th. Weiss Ratings reiterated a “hold (c-)” rating on shares of Roku in a report on Friday, May 15th. UBS Group set a $170.00 price objective on Roku in a report on Thursday, May 28th. Finally, Oppenheimer increased their target price on Roku from $105.00 to $120.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Twenty-two investment analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $145.50.

Roku Stock Up 2.3%

The firm has a market cap of $17.64 billion, a price-to-earnings ratio of 89.96 and a beta of 2.06. The business’s fifty day moving average is $117.26 and its two-hundred day moving average is $105.79.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating 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 business had revenue of $1.25 billion during the quarter, compared to analyst estimates of $1.20 billion. During the same quarter last year, the business posted ($0.19) earnings per share. Roku’s revenue for the quarter was up 22.4% compared to the same quarter last year. Research analysts forecast that Roku, Inc. will post 2.41 EPS for the current year.

Insider Buying and Selling at Roku

In related news, insider Gilbert Fuchsberg sold 9,593 shares of the business’s stock in a transaction that occurred on Friday, May 1st. The shares were sold at an average price of $125.52, for a total transaction of $1,204,113.36. Following the completion of the transaction, the insider owned 50,863 shares in the company, valued at approximately $6,384,323.76. The trade was a 15.87% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 15,000 shares of the business’s stock in a transaction that occurred on Monday, March 16th. The shares were sold at an average price of $94.23, for a total transaction of $1,413,450.00. Following the transaction, the chief financial officer owned 85,115 shares of the company’s stock, valued at approximately $8,020,386.45. This represents a 14.98% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 667,168 shares of company stock valued at $75,218,573. 13.45% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Several hedge funds have recently bought and sold shares of the stock. Parallel Advisors LLC raised its holdings in Roku by 27.8% during the 1st quarter. Parallel Advisors LLC now owns 2,426 shares of the company’s stock worth $230,000 after buying an additional 528 shares during the period. Glenmede Trust Co. NA increased its position in shares of Roku by 225.1% during the 1st quarter. Glenmede Trust Co. NA now owns 245,468 shares of the company’s stock worth $23,226,000 after purchasing an additional 169,960 shares during the last quarter. Royal Fund Management LLC acquired a new position in shares of Roku during the 1st quarter worth approximately $365,000. Bank of America Corp DE increased its position in shares of Roku by 5.5% during the 1st quarter. Bank of America Corp DE now owns 1,082,755 shares of the company’s stock worth $102,450,000 after purchasing an additional 56,893 shares during the last quarter. Finally, Janus Henderson Group PLC increased its position in shares of Roku by 1,320.4% during the 1st quarter. Janus Henderson Group PLC now owns 834,619 shares of the company’s stock worth $78,967,000 after purchasing an additional 775,861 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

About Roku

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.