Roku Inc (NASDAQ:ROKU)’s share price was up 6.2% during trading on Tuesday . The stock traded as high as $63.49 and last traded at $63.20. Approximately 8,333,556 shares changed hands during mid-day trading, an increase of 28% from the average daily volume of 6,532,091 shares. The stock had previously closed at $59.49.
Several equities analysts have commented on ROKU shares. BidaskClub raised Roku from a “sell” rating to a “hold” rating in a report on Wednesday, May 9th. DA Davidson increased their target price on Roku from $30.00 to $32.00 and gave the stock a “neutral” rating in a report on Friday, May 11th. Zacks Investment Research raised Roku from a “hold” rating to a “buy” rating and set a $40.00 target price for the company in a report on Tuesday, May 22nd. Morgan Stanley raised Roku from an “underweight” rating to an “equal weight” rating and set a $32.00 target price for the company in a report on Tuesday, May 29th. Finally, ValuEngine raised Roku from a “sell” rating to a “hold” rating in a report on Saturday, June 2nd. Eight research analysts have rated the stock with a hold rating, seven have given a buy rating and two have assigned a strong buy rating to the company. Roku presently has a consensus rating of “Buy” and an average target price of $53.38.
The firm has a market capitalization of $6.31 billion and a PE ratio of -27.39.
In related news, SVP Scott A. Rosenberg sold 25,000 shares of the firm’s stock in a transaction on Monday, July 2nd. The stock was sold at an average price of $41.74, for a total transaction of $1,043,500.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, SVP Stephen H. Kay sold 10,000 shares of the firm’s stock in a transaction on Monday, July 9th. The shares were sold at an average price of $48.00, for a total value of $480,000.00. The disclosure for this sale can be found here. Over the last three months, insiders sold 1,289,671 shares of company stock valued at $65,432,463. 0.55% of the stock is currently owned by insiders.
A number of hedge funds have recently added to or reduced their stakes in ROKU. BlackRock Inc. increased its holdings in Roku by 408.3% during the 2nd quarter. BlackRock Inc. now owns 3,245,130 shares of the company’s stock valued at $138,307,000 after purchasing an additional 2,606,673 shares in the last quarter. Point72 Asset Management L.P. acquired a new stake in Roku during the 1st quarter valued at $41,714,000. Gilder Gagnon Howe & Co. LLC increased its holdings in Roku by 63.0% during the 2nd quarter. Gilder Gagnon Howe & Co. LLC now owns 2,960,515 shares of the company’s stock valued at $126,177,000 after purchasing an additional 1,144,727 shares in the last quarter. Whale Rock Capital Management LLC acquired a new stake in Roku during the 2nd quarter valued at $31,972,000. Finally, EastBay Asset Management LLC acquired a new stake in Roku during the 2nd quarter valued at $25,971,000. 33.71% of the stock is owned by hedge funds and other institutional investors.
About Roku (NASDAQ:ROKU)
Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.
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