Roku (NASDAQ:ROKU) Trading 2.9% Higher – Here’s What Happened
by Danessa Lincoln · The Markets DailyRoku, Inc. (NASDAQ:ROKU – Get Free Report)’s stock price shot up 2.9% during trading on Thursday . The stock traded as high as $98.85 and last traded at $97.66. 2,753,484 shares traded hands during mid-day trading, a decline of 20% from the average session volume of 3,456,570 shares. The stock had previously closed at $94.90.
Analysts Set New Price Targets
A number of equities analysts have weighed in on the company. KeyCorp lifted their price objective on Roku from $128.00 to $130.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Benchmark reaffirmed a “buy” rating on shares of Roku in a report on Wednesday, February 4th. Wedbush lifted their price target on Roku from $130.00 to $140.00 and gave the company an “outperform” rating in a research report on Friday, February 13th. Oppenheimer boosted their price target on Roku from $105.00 to $120.00 and gave the company an “outperform” rating in a report on Friday, February 13th. Finally, JPMorgan Chase & Co. upped their price objective on Roku from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. One investment analyst has rated the stock with a Strong Buy rating, twenty-one have issued a Buy rating and four have given a Hold rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $126.75.
View Our Latest Stock Analysis on ROKU
Roku Stock Performance
The firm has a market capitalization of $14.40 billion, a PE ratio of 171.34 and a beta of 1.98. The firm’s 50 day moving average price is $94.29 and its 200-day moving average price is $99.48.
Roku (NASDAQ:ROKU – Get Free Report) last announced its quarterly earnings results on Thursday, February 12th. The company reported $0.53 earnings per share 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 analyst estimates of $1.35 billion. Roku had a return on equity of 3.40% and a net margin of 1.87%.Roku’s revenue for the quarter was up 16.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.24) EPS. On average, equities research analysts expect that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.
Insider Transactions at Roku
In other Roku news, insider Gilbert Fuchsberg sold 3,250 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 $310,602.50. Following the transaction, the insider directly owned 60,456 shares of the company’s stock, valued at $5,777,779.92. This trade represents a 5.10% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 1,715 shares of Roku stock in a transaction dated Thursday, March 5th. The shares were sold at an average price of $100.00, for a total transaction of $171,500.00. Following the completion of the sale, the insider owned 11,131 shares in the company, valued at approximately $1,113,100. This trade represents a 13.35% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 213,124 shares of company stock worth $21,433,878 in the last ninety days. Company insiders own 13.98% of the company’s stock.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. Vanguard Group Inc. raised its holdings in shares of Roku by 2.5% during the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock worth $1,301,557,000 after acquiring an additional 322,858 shares during the period. AQR Capital Management LLC increased its position in Roku by 10.6% during the fourth quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock worth $310,298,000 after purchasing an additional 274,024 shares during the last quarter. Geode Capital Management LLC raised its stake in Roku by 7.3% during the fourth quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after purchasing an additional 168,214 shares during the period. Holocene Advisors LP raised its stake in Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after purchasing an additional 1,285,585 shares during the period. Finally, Jacobs Levy Equity Management Inc. boosted its holdings in Roku by 0.8% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,509,686 shares of the company’s stock valued at $163,786,000 after purchasing an additional 12,705 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.
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.