Roku (NASDAQ:ROKU) Trading 2.5% Higher – Here’s What Happened
by Tristan Rich · The Markets DailyRoku, Inc. (NASDAQ:ROKU – Get Free Report) traded up 2.5% during mid-day trading on Wednesday . The stock traded as high as $105.73 and last traded at $100.99. 2,876,310 shares traded hands during trading, a decline of 16% from the average session volume of 3,408,862 shares. The stock had previously closed at $98.53.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the stock. UBS Group reaffirmed a “neutral” rating and set a $110.00 price objective on shares of Roku in a report on Friday, February 13th. Morgan Stanley set a $135.00 price objective on shares of Roku and gave the stock an “overweight” rating in a report on Tuesday, December 16th. Wedbush upped their price objective on shares of Roku from $130.00 to $140.00 and gave the stock an “outperform” rating in a report on Friday, February 13th. Weiss Ratings raised shares of Roku from a “sell (d-)” rating to a “hold (c-)” rating in a report on Tuesday, February 17th. Finally, KeyCorp upped their price objective on shares of Roku from $128.00 to $130.00 and gave the stock an “overweight” rating in a report on Friday, February 13th. One equities research analyst has rated the stock with a Strong Buy rating, twenty-one have assigned a Buy rating and four have issued a Hold rating to the stock. Based on data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and an average price target of $127.58.
Check Out Our Latest Analysis on Roku
Roku Stock Performance
The stock has a market capitalization of $14.89 billion, a price-to-earnings ratio of 177.18 and a beta of 2.00. The company’s 50 day moving average is $93.63 and its 200 day moving average is $99.48.
Roku (NASDAQ:ROKU – Get Free Report) last released its earnings results on Thursday, February 12th. The company reported $0.53 EPS for the quarter, beating the consensus estimate of $0.28 by $0.25. The firm had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.35 billion. Roku had a net margin of 1.87% and a return on equity of 3.40%. The business’s quarterly revenue was up 16.1% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.24) EPS. On average, equities research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.
Insider Buying and Selling
In other news, CEO Anthony J. Wood sold 75,000 shares of the stock in a transaction on Monday, January 12th. The shares were sold at an average price of $109.61, for a total value of $8,220,750.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Christopher T. Handman sold 2,999 shares of the stock in a transaction on Tuesday, March 3rd. The shares were sold at an average price of $95.57, for a total transaction of $286,614.43. Following the completion of the transaction, the senior vice president owned 2,999 shares of the company’s stock, valued at approximately $286,614.43. This represents a 50.00% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 213,123 shares of company stock worth $21,397,410. Insiders own 13.98% of the company’s stock.
Hedge Funds Weigh In On Roku
Hedge funds have recently made changes to their positions in the business. Blue Trust Inc. raised its stake in shares of Roku by 680.0% in the 4th quarter. Blue Trust Inc. now owns 234 shares of the company’s stock valued at $25,000 after buying an additional 204 shares in the last quarter. Aventura Private Wealth LLC acquired a new position in shares of Roku in the 4th quarter valued at $26,000. WPG Advisers LLC acquired a new position in shares of Roku in the 4th quarter valued at $31,000. Safe Harbor Fiduciary LLC acquired a new position in shares of Roku in the 4th quarter valued at $31,000. Finally, Westfuller Advisors LLC acquired a new stake in shares of Roku during the 3rd quarter worth about $30,000. Institutional investors and hedge funds own 86.30% of the company’s stock.
Roku Company Profile
Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.
At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.