Roku (NASDAQ:ROKU) Stock Price Up 0.9% - Here's What Happened

Roku, Inc. (NASDAQ:ROKU - Get Free Report) shares traded up 0.9% during mid-day trading on Wednesday . The company traded as high as $72.07 and last traded at $71.25. 750,031 shares were traded during mid-day trading, a decline of 80% from the average session volume of 3,698,515 shares. The stock had previously closed at $70.60.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on ROKU shares. Compass Point assumed coverage on shares of Roku in a research report on Sunday, March 23rd. They set a "buy" rating for the company. UBS Group raised shares of Roku from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 27th. Needham & Company LLC restated a "buy" rating and issued a $120.00 target price on shares of Roku in a research note on Monday, March 24th. Wells Fargo & Company upgraded Roku from an "equal weight" rating to an "overweight" rating and lifted their price target for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. Finally, Benchmark boosted their price objective on Roku from $100.00 to $130.00 and gave the company a "buy" rating in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, seventeen have assigned a buy rating and three have issued a strong buy rating to the stock. According to data from MarketBeat, Roku has an average rating of "Moderate Buy" and an average price target of $96.55.

Roku Stock Down 8.3 %

The firm's 50 day simple moving average is $79.65 and its 200 day simple moving average is $77.37. The company has a market cap of $8.07 billion, a price-to-earnings ratio of -62.11 and a beta of 2.17.

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Roku (NASDAQ:ROKU - Get Free Report) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion for the quarter, compared to analysts' expectations of $1.15 billion. Analysts anticipate that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CAO Matthew C. Banks sold 1,906 shares of the business's stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares of the company's stock, valued at $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Friday, January 10th. The shares were sold at an average price of $79.77, for a total value of $1,994,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at approximately $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,905 shares of company stock valued at $8,632,306 over the last 90 days. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Several institutional investors have recently modified their holdings of ROKU. Versant Capital Management Inc raised its position in Roku by 283.2% in the first quarter. Versant Capital Management Inc now owns 3,644 shares of the company's stock worth $257,000 after acquiring an additional 2,693 shares in the last quarter. Central Pacific Bank Trust Division acquired a new stake in Roku during the first quarter valued at approximately $469,000. Wealth Enhancement Advisory Services LLC lifted its stake in Roku by 19.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,225 shares of the company's stock valued at $463,000 after purchasing an additional 1,024 shares during the last quarter. Audent Global Asset Management LLC grew its position in Roku by 222.9% in the fourth quarter. Audent Global Asset Management LLC now owns 21,127 shares of the company's stock worth $1,571,000 after buying an additional 14,584 shares during the last quarter. Finally, Siemens Fonds Invest GmbH bought a new position in shares of Roku in the fourth quarter valued at $1,681,000. 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.