Roku (NASDAQ:ROKU) Trading 0.6% Higher – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s share price traded up 0.6% during trading on Tuesday . The company traded as high as $75.87 and last traded at $75.37. 270,091 shares traded hands during mid-day trading, a decline of 94% from the average session volume of 4,304,868 shares. The stock had previously closed at $74.89.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on the stock. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday, October 1st. Jefferies Financial Group decreased their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Rosenblatt Securities lifted their target price on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th. Finally, Benchmark reissued a “buy” rating and set a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Two research 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 stock. According to MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and an average price target of $83.81.

Roku Trading Down 0.7 %

The stock has a market cap of $10.79 billion, a P/E ratio of -61.95 and a beta of 2.06. The firm’s fifty day moving average is $75.34 and its 200 day moving average is $68.92.

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

Insider Transactions at Roku

In other news, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the transaction, the insider now owns 3,790 shares in the company, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $387,544. The trade was a 83.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,885 shares of company stock worth $5,645,259. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Several institutional investors have recently made changes to their positions in the business. FMR LLC boosted its position in shares of Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after acquiring an additional 244,793 shares in the last quarter. Holocene Advisors LP acquired a new stake in shares of Roku during the 3rd quarter valued at about $129,015,000. Westfield Capital Management Co. LP boosted its position in shares of Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its position in shares of Roku by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock valued at $71,373,000 after acquiring an additional 30,038 shares in the last quarter. Finally, Point72 Asset Management L.P. boosted its position in shares of Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after acquiring an additional 507,643 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.