Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price shot up 7.4% on Wednesday . The stock traded as high as $65.05 and last traded at $63.60. 1,527,819 shares traded hands during trading, a decline of 60% from the average session volume of 3,793,008 shares. The stock had previously closed at $59.23.
Analyst Ratings Changes
A number of brokerages have recently weighed in on ROKU. Wells Fargo & Company upgraded Roku from an "equal weight" rating to an "overweight" rating and upped their target price for the company from $74.00 to $129.00 in a report on Friday, February 14th. Pivotal Research raised Roku from a "hold" rating to a "buy" rating and boosted their price target for the company from $65.00 to $125.00 in a research note on Friday, February 14th. FBN Securities initiated coverage on shares of Roku in a research report on Friday, March 28th. They issued an "outperform" rating and a $93.00 target price for the company. Benchmark reaffirmed a "buy" rating and issued a $130.00 price objective on shares of Roku in a research note on Monday. Finally, Compass Point assumed coverage on Roku in a report on Sunday, March 23rd. They set a "buy" rating on the stock. One analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Roku currently has an average rating of "Moderate Buy" and a consensus price target of $92.37.
View Our Latest Analysis on ROKU
Roku Price Performance
The company has a market cap of $9.22 billion, a P/E ratio of -70.96 and a beta of 2.17. The company's 50-day moving average price is $73.01 and its 200-day moving average price is $75.81.
Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, topping 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 research analysts predict that Roku, Inc. will post -0.3 EPS for the current year.
Insiders Place Their Bets
In other news, CAO Matthew C. Banks sold 1,906 shares of the firm'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 value of $153,166.16. Following the completion of the sale, the chief accounting officer now directly owns 7,256 shares of the company's stock, valued at $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Monday, February 10th. The stock was sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at $2,333,486.34. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 71,905 shares of company stock valued at $6,560,876. 13.98% of the stock is currently owned by corporate insiders.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in ROKU. Geneos Wealth Management Inc. increased its holdings in shares of 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 buying an additional 270 shares in the last quarter. Garde Capital Inc. acquired a new position in Roku during the 1st quarter worth about $25,000. Vision Financial Markets LLC bought a new stake in shares of Roku in the 4th quarter valued at about $30,000. Princeton Global Asset Management LLC acquired a new position in shares of Roku in the 1st quarter worth approximately $35,000. Finally, First PREMIER Bank bought a new stake in shares of Roku in the 1st quarter valued at $35,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.
Roku Company Profile
(
Get Free Report)
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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