Roku (NASDAQ:ROKU) Shares Up 2.1% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) shares rose 2.1% during trading on Thursday . The stock traded as high as $68.29 and last traded at $67.71. Approximately 2,894,370 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 4,410,360 shares. The stock had previously closed at $66.31.

Analysts Set New Price Targets

ROKU has been the topic of a number of research reports. UBS Group began coverage on Roku in a research note on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target on the stock. Morgan Stanley upped 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. Wells Fargo & Company lifted their price target on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. JPMorgan Chase & Co. upped their price objective on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Finally, Loop Capital lifted their price objective on shares of Roku from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $82.62.

Roku Stock Up 1.9 %

The company has a market capitalization of $10.02 billion, a PE ratio of -57.52 and a beta of 2.07. The company has a 50-day moving average price of $73.63 and a two-hundred day moving average price of $65.34.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating 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 business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the firm earned ($2.33) EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, equities analysts anticipate that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at $518,940.16. The trade was a 54.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the completion of the transaction, the insider now directly owns 200 shares in the company, valued at approximately $15,000. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,240 shares of company stock valued at $6,729,582. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of large investors have recently modified their holdings of ROKU. Raelipskie Partnership purchased a new stake in Roku in the third quarter valued at approximately $32,000. Future Financial Wealth Managment LLC bought a new position in shares of Roku in the 3rd quarter worth $43,000. 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. EverSource Wealth Advisors LLC raised its position in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares in the last quarter. Finally, Cedar Wealth Management LLC bought a new stake in shares of Roku during the 2nd quarter worth $48,000. 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.