Roku (NASDAQ:ROKU) Trading Up 0.2% After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) traded up 0.2% during trading on Tuesday after Loop Capital raised their price target on the stock from $70.00 to $80.00. Loop Capital currently has a hold rating on the stock. Roku traded as high as $85.28 and last traded at $84.27. 415,774 shares were traded during mid-day trading, a decline of 91% from the average session volume of 4,425,088 shares. The stock had previously closed at $84.12.

A number of other research analysts have also issued reports on ROKU. Rosenblatt Securities boosted their price target on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group dropped their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Friday, November 1st. Wells Fargo & Company boosted their price target on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Benchmark reiterated a “buy” rating and set a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Finally, Bank of America boosted their price target on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a research note on Monday, September 30th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, Roku has an average rating of “Moderate Buy” and an average price target of $83.81.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction that occurred on Thursday, October 10th. The shares were 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 of the company’s stock, valued at approximately $387,544. This represents a 83.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction that occurred on 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 directly owns 3,790 shares in the company, valued at $269,620.60. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 48,096 shares of company stock valued at $3,587,823 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the company. Raelipskie Partnership purchased a new position in Roku during the third quarter worth approximately $32,000. EverSource Wealth Advisors LLC raised its stake 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 during the period. Future Financial Wealth Managment LLC purchased a new position in Roku during the third quarter worth approximately $43,000. GS Investments Inc. raised its stake in Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the period. Finally, Cedar Wealth Management LLC purchased a new position in Roku during the second quarter worth approximately $48,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Up 0.7 %

The company has a market cap of $11.97 billion, a PE ratio of -68.68 and a beta of 2.06. The stock’s 50 day simple moving average is $74.73 and its two-hundred day simple moving average is $66.60.

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

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.