Short Interest in Roku Inc (NASDAQ:ROKU) Declines By 26.7%

Roku Inc (NASDAQ:ROKU) saw a significant decline in short interest in March. As of March 15th, there was short interest totalling 8,830,514 shares, a decline of 26.7% from the February 28th total of 12,044,006 shares. Based on an average daily volume of 15,425,869 shares, the days-to-cover ratio is currently 0.6 days. Currently, 11.6% of the company’s stock are short sold.

Shares of NASDAQ:ROKU traded up $0.08 on Friday, reaching $56.68. 9,480,683 shares of the company traded hands, compared to its average volume of 12,843,465. Roku has a fifty-two week low of $26.30 and a fifty-two week high of $77.57. The company has a market capitalization of $6.24 billion, a PE ratio of -708.50 and a beta of 3.84.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 21st. The company reported $0.05 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.03 by $0.02. Roku had a negative net margin of 1.19% and a negative return on equity of 4.06%. The company had revenue of $275.74 million for the quarter, compared to the consensus estimate of $262.57 million. As a group, research analysts expect that Roku will post -0.71 earnings per share for the current fiscal year.

ROKU has been the subject of several research analyst reports. DA Davidson boosted their price objective on Roku to $60.00 and gave the company an “average” rating in a report on Friday, February 22nd. Zacks Investment Research raised Roku from a “hold” rating to a “buy” rating and set a $47.00 price objective for the company in a report on Wednesday, January 9th. Needham & Company LLC upped their target price on Roku from $45.00 to $65.00 and gave the company a “buy” rating in a report on Friday, February 22nd. ValuEngine raised Roku from a “hold” rating to a “buy” rating in a report on Saturday, February 23rd. Finally, BidaskClub raised Roku from a “hold” rating to a “buy” rating in a report on Wednesday, February 27th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eight have issued a buy rating to the company. The company has an average rating of “Hold” and an average price target of $66.17.

In related news, CEO Anthony J. Wood sold 35,000 shares of the business’s stock in a transaction dated Friday, February 1st. The stock was sold at an average price of $45.11, for a total value of $1,578,850.00. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, SVP Stephen H. Kay sold 3,000 shares of the business’s stock in a transaction dated Tuesday, April 16th. The stock was sold at an average price of $57.92, for a total value of $173,760.00. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 423,640 shares of company stock worth $25,154,898. 22.70% of the stock is currently owned by insiders.

A number of institutional investors have recently bought and sold shares of the business. Advisors Asset Management Inc. increased its position in Roku by 59.3% during the fourth quarter. Advisors Asset Management Inc. now owns 1,854 shares of the company’s stock worth $57,000 after buying an additional 690 shares during the last quarter. Rehmann Capital Advisory Group bought a new stake in Roku during the third quarter valued at about $59,000. We Are One Seven LLC bought a new stake in Roku during the fourth quarter valued at about $27,000. Silvant Capital Management LLC boosted its holdings in Roku by 13.9% during the fourth quarter. Silvant Capital Management LLC now owns 8,283 shares of the company’s stock valued at $254,000 after acquiring an additional 1,013 shares during the period. Finally, Capital Investment Advisory Services LLC bought a new stake in Roku during the fourth quarter valued at about $35,000. 42.98% of the stock is currently owned by hedge funds and other institutional investors.

TRADEMARK VIOLATION NOTICE: “Short Interest in Roku Inc (NASDAQ:ROKU) Declines By 26.7%” was posted by Baseball Daily News and is the sole property of of Baseball Daily News. If you are reading this news story on another domain, it was illegally copied and republished in violation of U.S. & international copyright and trademark legislation. The original version of this news story can be read at https://www.baseballdailydigest.com/news/2019/04/21/short-interest-in-roku-inc-roku-declines-by-26-7.html.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

Read More: What are retained earnings?

Receive News & Ratings for Roku Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Roku and related companies with MarketBeat.com's FREE daily email newsletter.