Roku (NASDAQ:ROKU) Stock Price Up 0.5%

Roku, Inc. (NASDAQ:ROKU)’s stock price was up 0.5% on Thursday . The company traded as high as $58.16 and last traded at $57.42. Approximately 1,100,737 shares changed hands during mid-day trading, a decline of 78% from the average daily volume of 4,958,090 shares. The stock had previously closed at $57.16.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on ROKU shares. Rosenblatt Securities restated a “neutral” rating and set a $89.00 price objective on shares of Roku in a report on Friday, April 26th. Citigroup lowered their price objective on shares of Roku from $75.00 to $70.00 and set a “neutral” rating for the company in a research report on Tuesday, April 30th. Wells Fargo & Company boosted their target price on Roku from $45.00 to $52.00 and gave the company an “underweight” rating in a research note on Friday, April 26th. Susquehanna dropped their price target on Roku from $110.00 to $80.00 and set a “positive” rating on the stock in a research report on Monday, April 29th. Finally, Morgan Stanley decreased their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating for the company in a research report on Friday, April 5th. Four equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $82.50.

Roku Trading Up 1.3 %

The firm has a 50-day moving average of $57.94 and a 200 day moving average of $70.78.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative net margin of 15.64% and a negative return on equity of 23.81%. The business had revenue of $881.50 million for the quarter, compared to the consensus estimate of $843.54 million. During the same period in the previous year, the company earned ($1.38) earnings per share. The firm’s revenue for the quarter was up 19.0% on a year-over-year basis. Equities analysts predict that Roku, Inc. will post -1.94 EPS for the current fiscal year.

Insider Activity at Roku

In other news, SVP Stephen H. Kay sold 3,322 shares of Roku stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total transaction of $189,652.98. Following the completion of the transaction, the senior vice president now directly owns 82,036 shares in the company, valued at approximately $4,683,435.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, SVP Stephen H. Kay sold 3,322 shares of the firm’s stock in a transaction dated Tuesday, June 4th. The shares were sold at an average price of $57.09, for a total transaction of $189,652.98. Following the completion of the sale, the senior vice president now owns 82,036 shares in the company, valued at approximately $4,683,435.24. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Charles Collier sold 7,181 shares of Roku stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $57.03, for a total transaction of $409,532.43. Following the sale, the insider now directly owns 15,654 shares of the company’s stock, valued at approximately $892,747.62. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,898 shares of company stock worth $1,347,966. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several institutional investors have recently added to or reduced their stakes in the company. GAMMA Investing LLC acquired a new stake in shares of Roku during the fourth quarter worth $27,000. Creative Financial Designs Inc. ADV acquired a new stake in Roku in the 4th quarter worth about $29,000. Federated Hermes Inc. bought a new stake in Roku in the 3rd quarter valued at about $37,000. Quarry LP grew its position in shares of Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares in the last quarter. Finally, Benjamin Edwards Inc. grew its position in shares of Roku by 43.5% during the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after purchasing an additional 187 shares in the last quarter. 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.