Roku (NASDAQ:ROKU) Shares Up 2.8% - Here's What Happened

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s share price shot up 2.8% on Friday . The stock traded as high as $66.50 and last traded at $66.46. 1,103,455 shares traded hands during mid-day trading, a decline of 72% from the average session volume of 3,945,865 shares. The stock had previously closed at $64.65.

Analysts Set New Price Targets

Several equities analysts have recently commented on ROKU shares. Moffett Nathanson upgraded shares of Roku from a "sell" rating to a "neutral" rating and set a $70.00 target price for the company in a research report on Tuesday, March 4th. Compass Point assumed coverage on Roku in a report on Sunday, March 23rd. They set a "buy" rating on the stock. JPMorgan Chase & Co. decreased their price target on Roku from $115.00 to $75.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. Piper Sandler assumed coverage on shares of Roku in a research note on Thursday, April 17th. They set a "neutral" rating and a $65.00 target price on the stock. Finally, JMP Securities restated a "market outperform" rating and set a $95.00 price target on shares of Roku in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat, Roku currently has a consensus rating of "Moderate Buy" and an average target price of $91.50.

Roku Price Performance

The company has a market cap of $9.59 billion, a P/E ratio of -73.83 and a beta of 2.17. The company has a 50 day moving average of $70.99 and a 200-day moving average of $75.52.

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

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at approximately $2,333,486.34. This trade represents a 48.51 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction on Tuesday, March 4th. The stock was 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 owns 7,256 shares of the company's stock, valued at approximately $583,092.16. This trade represents a 20.80 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,905 shares of company stock valued at $6,560,876 over the last three months. Insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently modified their holdings of the stock. Geneos Wealth Management Inc. raised its holdings in Roku by 369.9% in 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 during the last quarter. Garde Capital Inc. purchased a new position in shares of Roku during the first quarter valued at approximately $25,000. Vision Financial Markets LLC purchased a new stake in Roku during the 4th quarter valued at $30,000. Golden State Wealth Management LLC increased its position in Roku by 125.4% during the first quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after acquiring an additional 247 shares during the last quarter. Finally, Princeton Global Asset Management LLC purchased a new stake in shares of Roku in the 1st quarter worth $35,000. 86.30% of the stock is currently owned by 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.