Roku (NASDAQ:ROKU) Stock Price Up 2.3% Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shares were up 2.3% during trading on Monday 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 $77.25 and last traded at $76.99. Approximately 529,082 shares changed hands during mid-day trading, a decline of 88% from the average daily volume of 4,330,803 shares. The stock had previously closed at $75.27.

Other research analysts have also recently issued research reports about the company. Rosenblatt Securities cut their target price on Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Robert W. Baird increased their price objective on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, September 30th. JPMorgan Chase & Co. raised their target price on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and upped their price target for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. Finally, Bank of America lifted their price objective on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat, Roku currently has a consensus rating of “Hold” and an average price target of $82.55.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated 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 transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction dated Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the 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 transaction, the chief financial officer now owns 53,267 shares in the company, valued at $4,061,608.75. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 69,566 shares of company stock valued at $5,254,000. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Several hedge funds and other institutional investors have recently bought and sold shares of ROKU. Allspring Global Investments Holdings LLC boosted its stake in shares of Roku by 243.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock valued at $133,000 after purchasing an additional 1,449 shares in the last quarter. Azzad Asset Management Inc. ADV boosted its position in Roku by 21.4% during the first quarter. Azzad Asset Management Inc. ADV now owns 5,485 shares of the company’s stock valued at $357,000 after buying an additional 968 shares during the period. Principal Financial Group Inc. grew its stake in shares of Roku by 30.0% during the first quarter. Principal Financial Group Inc. now owns 10,889 shares of the company’s stock valued at $710,000 after buying an additional 2,512 shares during the last quarter. Private Advisor Group LLC increased its holdings in shares of Roku by 65.5% in the first quarter. Private Advisor Group LLC now owns 22,305 shares of the company’s stock worth $1,454,000 after buying an additional 8,824 shares during the period. Finally, Janney Montgomery Scott LLC lifted its stake in shares of Roku by 206.7% in the 1st quarter. Janney Montgomery Scott LLC now owns 26,925 shares of the company’s stock valued at $1,755,000 after acquiring an additional 18,146 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Trading Up 0.5 %

The firm has a fifty day moving average of $72.66 and a two-hundred day moving average of $63.44. The company has a market capitalization of $11.02 billion, a PE ratio of -19.15 and a beta of 2.08.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. During the same quarter in the prior year, the firm posted ($0.76) earnings per share. The business’s quarterly revenue was up 14.3% compared to the same quarter last year. On average, equities analysts expect 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.