Roku (NASDAQ:ROKU) Shares Up 0.4% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shot up 0.4% on Thursday . The stock traded as high as $79.95 and last traded at $79.90. 171,090 shares changed hands during trading, a decline of 96% from the average session volume of 4,333,516 shares. The stock had previously closed at $79.56.

Analysts Set New Price Targets

ROKU has been the topic of a number of research analyst reports. Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research report on Tuesday, October 1st. Macquarie reiterated an “outperform” rating and issued a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Wednesday, December 4th. Jefferies Financial Group lowered their target price on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Finally, Piper Sandler boosted their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $83.81.

Roku Trading Up 0.0 %

The stock has a market capitalization of $11.56 billion, a P/E ratio of -66.32 and a beta of 2.06. The stock’s 50-day moving average price is $75.39 and its two-hundred day moving average price is $68.15.

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

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This represents a 54.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the transaction, the chief financial officer now owns 64,555 shares in the company, valued at $5,340,635.15. This trade represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 73,096 shares of company stock valued at $5,661,223. 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 the company. Franklin Resources Inc. increased its holdings in shares of Roku by 14.5% in the third quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock worth $6,275,000 after buying an additional 10,416 shares during the period. Sender Co & Partners Inc. bought a new stake in Roku in the third quarter valued at approximately $827,000. M&T Bank Corp grew its holdings in shares of Roku by 19.1% in the third quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock worth $525,000 after purchasing an additional 1,126 shares during the last quarter. Raelipskie Partnership purchased a new position in shares of Roku in the third quarter worth $32,000. Finally, Nomura Asset Management Co. Ltd. raised its holdings in Roku by 14.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock valued at $2,719,000 after buying an additional 4,500 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.