Roku (NASDAQ:ROKU) Shares Gap Up to $74.67

Roku, Inc. (NASDAQ:ROKU) shares gapped up prior to trading on Wednesday . The stock had previously closed at $74.67, but opened at $76.18. Roku shares last traded at $76.63, with a volume of 406,834 shares trading hands.

Analyst Upgrades and Downgrades

Several equities analysts have issued reports on ROKU shares. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday, August 23rd. JPMorgan Chase & Co. dropped their price target on Roku from $90.00 to $80.00 and set an “overweight” rating on the stock in a research note on Friday, August 2nd. Bank of America reduced their price objective on Roku from $85.00 to $75.00 and set a “buy” rating for the company in a research note on Friday, August 2nd. Rosenblatt Securities decreased their price objective on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $78.25.

Roku Stock Performance

The stock’s 50-day moving average price is $62.38 and its 200-day moving average price is $60.84. The company has a market capitalization of $11.11 billion, a price-to-earnings ratio of -19.17 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. Roku’s revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.76) earnings per share. Analysts anticipate that Roku, Inc. will post -1.45 earnings per share for the current year.

Insider Activity at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now directly owns 200 shares in the company, valued at $15,000. The disclosure for this sale can be found here. In the last three months, insiders have sold 45,945 shares of company stock valued at $3,389,805. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Quarry LP grew its stake in shares of Roku by 160.2% during the 4th quarter. Quarry LP now owns 432 shares of the company’s stock valued at $40,000 after buying an additional 266 shares during the period. Benjamin Edwards Inc. grew its position in Roku by 43.5% during the first quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after acquiring an additional 187 shares during the period. EverSource Wealth Advisors LLC raised its holdings in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares during the period. Geneos Wealth Management Inc. lifted its stake in shares of Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares in the last quarter. Finally, Cedar Wealth Management LLC purchased a new stake in shares of Roku during the 2nd quarter worth about $48,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

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.