Roku (NASDAQ:ROKU) Trading Up 4.8% - Here's What Happened

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price was up 4.8% during trading on Monday . The company traded as high as $62.49 and last traded at $57.92. Approximately 2,674,237 shares were traded during trading, a decline of 28% from the average daily volume of 3,729,429 shares. The stock had previously closed at $55.28.

Analyst Ratings Changes

ROKU has been the subject of a number of analyst reports. Redburn Atlantic raised Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target for the company in a report on Monday. UBS Group raised Roku from a "hold" rating to a "strong-buy" rating in a research note on Thursday, March 27th. FBN Securities began coverage on shares of Roku in a research note on Friday, March 28th. They issued an "outperform" rating and a $93.00 price target on the stock. Compass Point initiated coverage on shares of Roku in a report on Sunday, March 23rd. They issued a "buy" rating for the company. Finally, Citigroup raised shares of Roku from a "neutral" rating to an "outperform" rating in a report on Sunday, March 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating, eighteen have issued a buy rating and three have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $96.70.

Roku Stock Down 0.5 %

The firm has a 50-day moving average of $76.89 and a two-hundred day moving average of $76.67. The company has a market capitalization of $8.61 billion, a PE ratio of -65.79 and a beta of 2.17.

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

Insiders Place Their Bets

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the company's stock in a transaction 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 transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the transaction, the chief executive officer now owns 6,243 shares of the company's stock, valued at approximately $468,225. This represents a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 72,905 shares of company stock valued at $6,638,056 over the last 90 days. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently bought and sold shares of the company. Geneos Wealth Management Inc. increased its stake in Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company's stock worth $25,000 after purchasing an additional 270 shares during the period. Vision Financial Markets LLC purchased a new position in shares of Roku in the fourth quarter valued at approximately $30,000. Game Plan Financial Advisors LLC acquired a new position in shares of Roku in the fourth quarter valued at approximately $37,000. Harvest Fund Management Co. Ltd increased its stake in Roku by 4,091.7% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company's stock worth $37,000 after buying an additional 491 shares during the period. Finally, Allianz SE acquired a new stake in Roku during the 4th quarter worth approximately $39,000. 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.