Roku (NASDAQ:ROKU) Trading 0.1% Higher Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shares traded up 0.1% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $60.00 to $65.00. Morgan Stanley currently has an underweight rating on the stock. Roku traded as high as $76.47 and last traded at $76.11. 370,001 shares were traded during mid-day trading, a decline of 91% from the average session volume of 4,319,035 shares. The stock had previously closed at $76.05.

Other equities research analysts also recently issued research reports about the company. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday, August 23rd. Benchmark reiterated a “buy” rating and issued a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Bank of America increased their price objective on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research note on Monday, September 30th. Rosenblatt Securities decreased their target price on Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Finally, JPMorgan Chase & Co. lifted their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $82.55.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. In other Roku news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,267 shares of the company’s stock, valued at $4,061,608.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,566 shares of company stock valued at $5,254,000 over the last quarter. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC raised its holdings in Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after purchasing an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new stake in shares of Roku during the 3rd quarter worth $43,000. Geneos Wealth Management Inc. boosted its position in shares of Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after purchasing an additional 610 shares in the last quarter. Cedar Wealth Management LLC purchased a new stake in shares of Roku during the 2nd quarter worth $48,000. Finally, Natixis purchased a new stake in shares of Roku during the 1st quarter worth $53,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

The company has a market capitalization of $11.17 billion, a PE ratio of -19.43 and a beta of 2.08. The firm’s 50-day simple moving average is $72.95 and its 200 day simple moving average is $63.56.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the company posted ($0.76) EPS. As a group, equities analysts anticipate that Roku, Inc. will post -1.43 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.