Roku (NASDAQ:ROKU) Trading 1.7% Higher - Here's What Happened

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s share price rose 1.7% on Wednesday . The company traded as high as $72.68 and last traded at $70.82. Approximately 764,664 shares traded hands during trading, a decline of 79% from the average daily volume of 3,730,038 shares. The stock had previously closed at $69.64.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on ROKU shares. Citizens Jmp upgraded Roku to a "strong-buy" rating in a report on Tuesday, January 21st. UBS Group lifted their target price on Roku from $73.00 to $90.00 and gave the company a "neutral" rating in a research note on Friday, February 14th. Jefferies Financial Group raised shares of Roku from an "underperform" rating to a "hold" rating and increased their price target for the company from $55.00 to $100.00 in a research report on Thursday, February 20th. Needham & Company LLC reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Roku in a research report on Tuesday, January 7th. Finally, Benchmark increased their target price on shares of Roku from $100.00 to $130.00 and gave the company a "buy" rating in a research report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $96.71.

Roku Price Performance

The stock has a fifty day simple moving average of $82.12 and a 200-day simple moving average of $77.12. The company has a market capitalization of $10.42 billion, a price-to-earnings ratio of -80.27 and a beta of 2.12.

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Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates 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, equities analysts expect that Roku, Inc. will post -0.3 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 7,181 shares of Roku stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $78.25, for a total value of $561,913.25. Following the sale, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. The trade was a 49.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business's stock in a transaction that occurred on Monday, December 16th. The stock was sold at an average price of $82.73, for a total value of $82,730.00. Following the sale, the chief financial officer now owns 64,555 shares of the company's stock, valued at approximately $5,340,635.15. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 93,308 shares of company stock valued at $8,296,166 over the last ninety days. Corporate insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. Entropy Technologies LP lifted its stake in shares of Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company's stock worth $1,898,000 after buying an additional 18,520 shares in the last quarter. Holocene Advisors LP acquired a new stake in Roku in the 3rd quarter valued at about $129,015,000. National Bank of Canada FI lifted its stake in Roku by 11,626.3% in the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company's stock worth $11,259,000 after purchasing an additional 149,514 shares in the last quarter. EULAV Asset Management boosted its holdings in shares of Roku by 59.1% during the 3rd quarter. EULAV Asset Management now owns 183,000 shares of the company's stock worth $13,663,000 after purchasing an additional 68,000 shares during the last quarter. Finally, Blueshift Asset Management LLC purchased a new stake in shares of Roku in the third quarter valued at approximately $2,157,000. Hedge funds and other institutional investors 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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