Roku (NASDAQ:ROKU) Stock Price Up 2.6% - Here's Why

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) were up 2.6% during mid-day trading on Monday . The company traded as high as $68.20 and last traded at $67.39. Approximately 963,229 shares were traded during trading, a decline of 74% from the average daily volume of 3,705,818 shares. The stock had previously closed at $65.71.

Wall Street Analysts Forecast Growth

ROKU has been the subject of a number of recent analyst reports. Wedbush reduced their target price on Roku from $125.00 to $100.00 and set an "outperform" rating for the company in a report on Monday. Pivotal Research raised Roku from a "hold" rating to a "buy" rating and boosted their price target for the stock from $65.00 to $125.00 in a research note on Friday, February 14th. Needham & Company LLC restated a "buy" rating and issued a $88.50 price target on shares of Roku in a research report on Thursday. UBS Group lowered their price objective on shares of Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Wells Fargo & Company lowered their price target on shares of Roku from $129.00 to $93.00 and set an "overweight" rating on the stock in a research report on Monday. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $89.93.

Roku Trading Up 3.2 %

The stock has a market capitalization of $9.90 billion, a PE ratio of -76.14 and a beta of 2.17. The business's 50-day moving average is $70.99 and its two-hundred day moving average is $75.52.

Roku (NASDAQ:ROKU - Get Free Report) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping the consensus estimate of ($0.44) by $0.20. The company had revenue of $1.20 billion during 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%. On average, analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $100.40, for a total transaction of $502,000.00. Following the completion of the sale, the chief financial officer now owns 58,555 shares in the company, valued at $5,878,922. This trade represents a 7.87 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of the company's stock in a transaction that occurred on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at approximately $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 71,905 shares of company stock worth $6,560,876 in the last quarter. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

A number of hedge funds have recently made changes to their positions in ROKU. Geneos Wealth Management Inc. grew its holdings in Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after acquiring an additional 270 shares in the last quarter. Garde Capital Inc. bought a new stake in Roku in the first quarter valued at about $25,000. Vision Financial Markets LLC acquired a new stake in Roku during the fourth quarter valued at approximately $30,000. Golden State Wealth Management LLC lifted its holdings in Roku by 125.4% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock worth $31,000 after buying an additional 247 shares during the last quarter. Finally, Game Plan Financial Advisors LLC bought a new stake in shares of Roku during the 4th quarter valued at about $37,000. Institutional investors and hedge funds own 86.30% of the company's stock.

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.

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