Roku (NASDAQ:ROKU) Stock Price Up 1.1% After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s share price rose 1.1% during trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $115.00 to $125.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $109.96 and last traded at $107.47. Approximately 2,699,122 shares were traded during trading, a decline of 28% from the average daily volume of 3,733,528 shares. The stock had previously closed at $106.30.

Other research analysts have also recently issued reports about the company. KeyCorp reissued an “overweight” rating and set a $116.00 price target on shares of Roku in a research report on Tuesday, October 28th. JMP Securities reissued a “market outperform” rating and issued a $145.00 price objective on shares of Roku in a report on Thursday, October 2nd. Needham & Company LLC restated a “buy” rating and set a $110.00 target price on shares of Roku in a report on Wednesday, October 1st. Pivotal Research upped their price target on shares of Roku from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Finally, Guggenheim lifted their price objective on shares of Roku from $110.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, December 4th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and two have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $116.09.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 3,000 shares of the business’s stock in a transaction that occurred on Monday, November 17th. The stock was sold at an average price of $99.09, for a total value of $297,270.00. Following the completion of the sale, the chief financial officer directly owned 77,420 shares in the company, valued at approximately $7,671,547.80. The trade was a 3.73% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CAO Matthew C. Banks sold 731 shares of the stock in a transaction that occurred on Monday, December 1st. The stock was sold at an average price of $95.64, for a total value of $69,912.84. Following the sale, the chief accounting officer directly owned 6,554 shares in the company, valued at $626,824.56. This represents a 10.03% decrease in their position. The SEC filing for this sale provides additional information. Over the last ninety days, insiders have sold 490,668 shares of company stock worth $51,948,686. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Institutional investors have recently modified their holdings of the stock. Berkshire Capital Holdings Inc. increased its position in Roku by 1,413,400.0% during the 1st quarter. Berkshire Capital Holdings Inc. now owns 141,350 shares of the company’s stock valued at $9,957,000 after purchasing an additional 141,340 shares during the period. Atika Capital Management LLC bought a new stake in shares of Roku in the 1st quarter valued at $5,086,000. West Tower Group LLC increased its position in shares of Roku by 128.6% during the second quarter. West Tower Group LLC now owns 8,000 shares of the company’s stock worth $703,000 after buying an additional 4,500 shares during the period. Woodline Partners LP boosted its position in Roku by 1,056.3% during the first quarter. Woodline Partners LP now owns 306,429 shares of the company’s stock valued at $21,585,000 after acquiring an additional 279,929 shares during the last quarter. Finally, Diversified Trust Co boosted its position in Roku by 73.6% during the second quarter. Diversified Trust Co now owns 20,548 shares of the company’s stock valued at $1,806,000 after acquiring an additional 8,710 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Performance

The stock has a fifty day simple moving average of $99.18 and a two-hundred day simple moving average of $92.70. The stock has a market capitalization of $15.88 billion, a price-to-earnings ratio of -537.32 and a beta of 1.98.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, October 30th. The company reported $0.16 EPS for the quarter, beating the consensus estimate of $0.07 by $0.09. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The company had revenue of $1.21 billion for the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the company earned ($0.06) EPS. The firm’s revenue for the quarter was up 14.0% compared to the same quarter last year. Research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current 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.