Roku (NASDAQ:ROKU) Trading 0% Higher – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 0% during trading on Thursday . The stock traded as high as $87.00 and last traded at $85.58. 661,470 shares traded hands during trading, a decline of 82% from the average session volume of 3,664,415 shares. The stock had previously closed at $85.57.

Analysts Set New Price Targets

Several brokerages recently commented on ROKU. Rosenblatt Securities reissued a “neutral” rating and set a $86.00 price objective on shares of Roku in a research report on Thursday, February 13th. Benchmark increased their price objective on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a research report on Friday, February 14th. Pivotal Research raised shares of Roku from a “hold” rating to a “buy” rating and raised their price target for the company from $65.00 to $125.00 in a report on Friday, February 14th. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and raised their price target for the company from $70.00 to $90.00 in a report on Monday, November 18th. Finally, UBS Group raised their price target on shares of Roku from $73.00 to $90.00 and gave the company a “neutral” rating in a report on Friday, February 14th. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $96.00.

Roku Trading Up 2.5 %

The company has a market cap of $12.19 billion, a P/E ratio of -93.83 and a beta of 2.05. The business’s 50 day simple moving average is $82.14 and its 200 day simple moving average is $76.08.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The company had revenue of $1.20 billion for the quarter, compared to analysts’ expectations of $1.15 billion. Sell-side analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $2,510,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,664,415.20. This trade represents a 48.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the completion of the transaction, the chief financial officer now directly owns 64,555 shares of the company’s stock, valued at approximately $5,340,635.15. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 109,432 shares of company stock valued at $9,661,783 in the last three months. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Entropy Technologies LP grew its holdings in shares of Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock valued at $1,898,000 after purchasing an additional 18,520 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of Roku in the third quarter valued at $129,015,000. National Bank of Canada FI grew its holdings in shares of Roku by 11,626.3% in the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after purchasing an additional 149,514 shares in the last quarter. EULAV Asset Management boosted its stake in Roku by 59.1% during the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock worth $13,663,000 after buying an additional 68,000 shares during the period. Finally, International Assets Investment Management LLC boosted its stake in Roku by 8,030.0% during the third quarter. International Assets Investment Management LLC now owns 108,780 shares of the company’s stock worth $8,122,000 after buying an additional 107,442 shares during the period. 86.30% of the stock is owned by hedge funds and other 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.