Roku (NASDAQ:ROKU) Trading Up 2.3% - Here's What Happened

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) shot up 2.3% during mid-day trading on Wednesday . The stock traded as high as $82.79 and last traded at $82.30. 911,005 shares changed hands during trading, a decline of 75% from the average session volume of 3,611,682 shares. The stock had previously closed at $80.41.

Analysts Set New Price Targets

Several brokerages have issued reports on ROKU. Wedbush reaffirmed an "outperform" rating and set a $100.00 target price on shares of Roku in a research report on Monday, February 10th. Jefferies Financial Group raised Roku from an "underperform" rating to a "hold" rating and upped their target price for the company from $55.00 to $100.00 in a research report on Thursday, February 20th. UBS Group boosted their price target on Roku from $73.00 to $90.00 and gave the stock a "neutral" rating in a research note on Friday, February 14th. JMP Securities increased their price objective on shares of Roku from $95.00 to $115.00 and gave the company a "market outperform" rating in a research report on Friday, February 14th. Finally, Needham & Company LLC reissued a "buy" rating and set a $100.00 target price on shares of Roku in a research report on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have issued a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and a consensus target price of $96.71.

Roku Stock Performance

The company has a 50 day moving average of $82.30 and a 200 day moving average of $76.72. The stock has a market capitalization of $12.27 billion, a price-to-earnings ratio of -93.89 and a beta of 2.12.

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

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction 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 completion of the sale, the chief financial officer now directly owns 64,555 shares of the company's stock, valued at approximately $5,340,635.15. The trade was a 1.53 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,193,100.32. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 118,308 shares of company stock worth $10,362,166. Insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC increased its position in shares of Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company's stock worth $47,000 after acquiring an additional 121 shares during the period. United Advisor Group LLC grew its position in shares of Roku by 0.9% during the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company's stock worth $1,073,000 after buying an additional 130 shares in the last quarter. Cerity Partners LLC raised its holdings in Roku by 0.5% in the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company's stock valued at $1,984,000 after acquiring an additional 145 shares in the last quarter. GS Investments Inc. lifted its position in shares of Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company's stock worth $44,000 after purchasing an additional 147 shares during the last quarter. Finally, True Vision MN LLC grew its stake in shares of Roku by 3.1% during the third quarter. True Vision MN LLC now owns 5,018 shares of the company's stock worth $375,000 after purchasing an additional 152 shares in the last quarter. 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.