Roku (NASDAQ:ROKU) Trading 0.4% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) shot up 0.4% during trading on Thursday . The stock traded as high as $79.95 and last traded at $79.90. 171,090 shares changed hands during mid-day trading, a decline of 96% from the average session volume of 4,333,516 shares. The stock had previously closed at $79.56.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. Morgan Stanley boosted their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Macquarie reissued an “outperform” rating and set a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Citigroup raised their target price on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Wells Fargo & Company boosted their target price on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Finally, UBS Group assumed coverage on Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target on the stock. Two analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Roku has an average rating of “Moderate Buy” and a consensus price target of $83.81.

Roku Stock Down 3.1 %

The stock has a fifty day simple moving average of $75.42 and a 200 day simple moving average of $68.44. The firm has a market capitalization of $11.18 billion, a P/E ratio of -64.19 and a beta of 2.06.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm earned ($2.33) EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. Research analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Activity at Roku

In other news, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at $518,940.16. This represents a 54.48 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the completion of the transaction, the chief financial officer now directly owns 64,555 shares of the company’s stock, valued at approximately $5,340,635.15. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,096 shares of company stock valued at $5,661,223. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors have recently bought and sold shares of the business. GS Investments Inc. increased its holdings in shares of Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after buying an additional 147 shares during the last quarter. PFG Investments LLC grew its position in Roku by 3.7% in the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after acquiring an additional 150 shares in the last quarter. True Vision MN LLC increased its stake in Roku by 3.1% during the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after acquiring an additional 152 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of Roku by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after purchasing an additional 202 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Roku by 11.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after purchasing an additional 222 shares during the period. Institutional investors own 86.30% of the company’s stock.

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.