Roku, Inc. (NASDAQ:ROKU) Short Interest Down 18.1% in November

Roku, Inc. (NASDAQ:ROKU) was the target of a large decrease in short interest in the month of November. As of November 30th, there was short interest totalling 10,250,000 shares, a decrease of 18.1% from the November 15th total of 12,520,000 shares. Based on an average trading volume of 3,950,000 shares, the short-interest ratio is currently 2.6 days.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on ROKU shares. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research note on Thursday, September 12th. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Rosenblatt Securities lifted their price objective on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Finally, Morgan Stanley lifted their price objective on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

Insider Transactions at Roku

In related news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the transaction, the chief accounting officer now owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at $4,087,933.11. The trade was a 1.81 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 73,096 shares of company stock worth $5,653,823 in the last three months. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently added to or reduced their stakes in ROKU. FMR LLC raised its holdings in shares of Roku by 1.7% in the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares in the last quarter. ARK Investment Management LLC increased its holdings in shares of Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares in the last quarter. Holocene Advisors LP bought a new stake in shares of Roku during the 3rd quarter worth $129,015,000. Westfield Capital Management Co. LP grew its holdings in shares of Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after acquiring an additional 856,401 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. raised its position in shares of Roku by 3.2% during the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after purchasing an additional 30,038 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

Shares of ROKU traded up $1.09 during midday trading on Friday, hitting $82.99. 2,019,540 shares of the stock traded hands, compared to its average volume of 4,404,422. Roku has a 1-year low of $48.33 and a 1-year high of $108.84. The firm has a market capitalization of $12.05 billion, a PE ratio of -69.16 and a beta of 2.06. The business’s 50 day moving average price is $75.00 and its two-hundred day moving average price is $66.89.

Roku (NASDAQ:ROKU) last announced its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the firm posted ($2.33) EPS. Roku’s revenue was up 16.5% compared to the same quarter last year. As a group, equities research analysts forecast that Roku will post -1.1 EPS for the current fiscal year.

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.