Roku (NASDAQ:ROKU) Stock Price Up 2.5% on Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s share price 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 analysts also recently commented on ROKU. Macquarie increased their target price on Roku from $72.00 to $90.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. 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 note on Tuesday, October 1st. Robert W. Baird increased their target price on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research note on Monday, September 30th. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a research note on Thursday, September 12th. Finally, Bank of America increased their price target on Roku from $75.00 to $90.00 and gave the company 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 assigned a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $82.30.

Insider Buying and Selling at Roku

In other Roku news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s 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 sale, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other 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 value of $109,012.27. Following the sale, the insider now directly owns 38,602 shares of the company’s stock, valued at approximately $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 can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at $387,544. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 69,566 shares of company stock valued at $5,254,000 over the last ninety days. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of ROKU. PFG Investments LLC increased its position in shares of Roku by 3.7% in the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after acquiring an additional 150 shares during the period. Mcdonald Partners LLC boosted its stake in shares of Roku by 0.9% during the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after acquiring an additional 175 shares in the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Roku by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after acquiring an additional 202 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in Roku by 11.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock valued at $165,000 after buying an additional 222 shares in the last quarter. Finally, Beacon Capital Management LLC lifted its stake in Roku by 17.7% in the 1st quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock valued at $101,000 after buying an additional 233 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

The stock has a market capitalization of $10.87 billion, a PE ratio of -18.95 and a beta of 2.08. The stock’s 50 day moving average is $72.04 and its two-hundred day moving average is $63.22.

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