Roku Sees Unusually High Options Volume (NASDAQ:ROKU)

Roku, Inc. (NASDAQ:ROKU) saw some unusual options trading on Wednesday. Investors purchased 85,814 call options on the company. This represents an increase of 71% compared to the average daily volume of 50,053 call options.

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Susquehanna dropped their price target on Roku from $110.00 to $80.00 and set a “positive” rating for the company in a research note on Monday, April 29th. Citigroup decreased their price objective on Roku from $75.00 to $70.00 and set a “neutral” rating on the stock in a report on Tuesday, April 30th. Piper Sandler reaffirmed a “neutral” rating and set a $65.00 price objective (down from $81.00) on shares of Roku in a report on Friday, April 26th. Morgan Stanley decreased their price objective on Roku from $65.00 to $60.00 and set an “underweight” rating on the stock in a report on Friday, April 5th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $89.00 price objective on shares of Roku in a report on Friday, April 26th. Four analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, Roku has a consensus rating of “Hold” and a consensus target price of $82.50.

Insider Activity at Roku

In related news, Director Mai Fyfield sold 650 shares of the business’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the transaction, the director now directly owns 3,259 shares in the company, valued at approximately $188,630.92. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In other Roku news, SVP Stephen H. Kay sold 3,322 shares of the company’s stock in a transaction that occurred on Tuesday, June 4th. The stock was sold at an average price of $57.09, for a total value of $189,652.98. Following the completion of the transaction, the senior vice president now directly owns 82,036 shares in the company, valued at approximately $4,683,435.24. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The stock was sold at an average price of $57.88, for a total value of $37,622.00. Following the completion of the transaction, the director now owns 3,259 shares of the company’s stock, valued at $188,630.92. The disclosure for this sale can be found here. In the last ninety days, insiders sold 23,898 shares of company stock worth $1,347,966. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in ROKU. Harbour Investments Inc. boosted its position in Roku by 3.3% during the third quarter. Harbour Investments Inc. now owns 3,499 shares of the company’s stock valued at $247,000 after purchasing an additional 113 shares in the last quarter. Avantax Advisory Services Inc. boosted its position in Roku by 0.9% during the fourth quarter. Avantax Advisory Services Inc. now owns 12,949 shares of the company’s stock valued at $1,187,000 after purchasing an additional 117 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its position in Roku by 0.3% during the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 50,971 shares of the company’s stock valued at $4,415,000 after purchasing an additional 150 shares in the last quarter. Benjamin Edwards Inc. boosted 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 purchasing an additional 187 shares in the last quarter. Finally, Amalgamated Bank boosted its position in Roku by 1.0% during the fourth quarter. Amalgamated Bank now owns 19,820 shares of the company’s stock valued at $1,817,000 after purchasing an additional 191 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Stock Up 4.6 %

ROKU stock opened at $57.16 on Thursday. The business’s fifty day simple moving average is $57.87 and its two-hundred day simple moving average is $71.16. Roku has a twelve month low of $51.51 and a twelve month high of $108.84. The firm has a market cap of $8.24 billion, a price-to-earnings ratio of -14.33 and a beta of 1.92.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The business had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. During the same quarter last year, the firm posted ($1.38) earnings per share. The business’s revenue was up 19.0% compared to the same quarter last year. Research analysts expect that Roku will post -1.94 EPS for the current year.

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.