Roku (NASDAQ:ROKU) Trading Up 2.5% After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shares traded up 2.5% on Friday after Wedbush raised their price target on the stock from $75.00 to $85.00. Wedbush currently has an outperform rating on the stock. Roku traded as high as $76.23 and last traded at $75.91. 874,620 shares were traded during mid-day trading, a decline of 80% from the average session volume of 4,342,373 shares. The stock had previously closed at $74.04.

Several other equities analysts also recently weighed in on the stock. Rosenblatt Securities reduced their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Tuesday, October 1st. Bank of America raised their price target on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Citigroup boosted their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and a consensus target price of $82.30.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Charles Collier sold 15,454 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now directly owns 200 shares in the company, valued at $15,000. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 69,566 shares of company stock valued at $5,254,000. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in ROKU. Future Financial Wealth Managment LLC purchased a new position in shares of Roku in the third quarter valued at about $43,000. EverSource Wealth Advisors LLC grew its stake in shares of Roku by 123.4% in 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 last quarter. Geneos Wealth Management Inc. increased its holdings in Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after purchasing an additional 610 shares during the period. Cedar Wealth Management LLC bought a new position in Roku during the 2nd quarter valued at approximately $48,000. Finally, Natixis purchased a new stake in Roku in the 1st quarter worth approximately $53,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Trading Up 1.7 %

The firm has a market cap of $10.85 billion, a PE ratio of -18.86 and a beta of 2.08. The firm has a fifty day simple moving average of $72.38 and a two-hundred day simple moving average of $63.33.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. The company had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm’s revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the firm posted ($0.76) earnings per share. Equities analysts expect that Roku, Inc. will post -1.44 earnings per share 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.