Roku (NASDAQ:ROKU) Stock Price Up 14.1% Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shares rose 14.1% during trading on Monday after UBS Group raised their price target on the stock from $73.00 to $90.00. UBS Group currently has a neutral rating on the stock. Roku traded as high as $104.96 and last traded at $99.07. Approximately 18,449,453 shares changed hands during trading, an increase of 644% from the average daily volume of 2,480,833 shares. The stock had previously closed at $86.80.

ROKU has been the subject of several other reports. Needham & Company LLC restated a “buy” rating and issued a $100.00 target price on shares of Roku in a report on Tuesday, January 7th. Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and upped their price objective for the company from $74.00 to $129.00 in a report on Friday, February 14th. JPMorgan Chase & Co. lifted their target price on shares of Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, February 14th. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Finally, Rosenblatt Securities restated a “neutral” rating and set a $86.00 price target on shares of Roku in a report on Thursday, February 13th. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $92.62.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total transaction of $2,510,000.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,664,415.20. This represents a 48.51 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the transaction, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at $4,905,174.90. This represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 109,421 shares of company stock worth $9,660,786 in the last three months. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Hedge funds have recently modified their holdings of the stock. Fourth Dimension Wealth LLC purchased a new stake in Roku during the 4th quarter worth about $41,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Roku by 7.8% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 527,191 shares of the company’s stock worth $39,191,000 after buying an additional 37,945 shares during the period. Waverly Advisors LLC increased its stake in shares of Roku by 8.2% during the fourth quarter. Waverly Advisors LLC now owns 3,765 shares of the company’s stock worth $280,000 after buying an additional 285 shares during the period. Woodline Partners LP purchased a new position in Roku in the fourth quarter worth approximately $1,970,000. Finally, Twinbeech Capital LP acquired a new position in Roku during the 4th quarter worth approximately $4,615,000. 86.30% of the stock is currently owned by institutional investors and hedge funds.

Roku Trading Down 3.3 %

The firm’s fifty day simple moving average is $80.86 and its 200 day simple moving average is $74.18. The company has a market cap of $13.91 billion, a price-to-earnings ratio of -79.83 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. As a group, sell-side analysts expect that Roku, Inc. will post -1.09 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.