Roku (NASDAQ:ROKU) Trading 1.3% Higher Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s stock price was up 1.3% during trading on Wednesday 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 $77.61 and last traded at $77.39. Approximately 936,088 shares changed hands during trading, a decline of 78% from the average daily volume of 4,310,478 shares. The stock had previously closed at $76.41.

ROKU has been the topic of a number of other research reports. Rosenblatt Securities dropped their price objective on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a report on Friday, August 2nd. Wedbush boosted their target price on shares of Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Citigroup lifted their price target on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Macquarie lifted their price target on Roku from $72.00 to $90.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Finally, Bank of America boosted their price target on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Roku has an average rating of “Hold” and an average price target of $82.55.

Insider Buying and Selling at Roku

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

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. EverSource Wealth Advisors LLC grew its stake in shares of 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 during the period. Future Financial Wealth Managment LLC acquired a new stake in shares of Roku in the third quarter valued at about $43,000. Geneos Wealth Management Inc. raised its position in Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after acquiring an additional 610 shares in the last quarter. Cedar Wealth Management LLC acquired a new position in Roku during the second quarter worth approximately $48,000. Finally, Natixis bought a new stake in Roku in the 1st quarter valued at $53,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Trading Up 1.4 %

The company has a market cap of $11.17 billion, a price-to-earnings ratio of -19.43 and a beta of 2.08. The business’s 50 day moving average price is $72.95 and its 200-day moving average price is $63.56.

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