Roku (NASDAQ:ROKU) Trading 1.8% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) rose 1.8% during mid-day trading on Friday . The company traded as high as $76.94 and last traded at $76.49. Approximately 511,489 shares changed hands during trading, a decline of 82% from the average daily volume of 2,791,463 shares. The stock had previously closed at $75.16.

Wall Street Analyst Weigh In

Several equities research analysts have commented on the company. Moffett Nathanson lowered Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective on the stock. in a research report on Friday, January 10th. Bank of America increased their price target on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. UBS Group started coverage on shares of Roku in a report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price objective for the company. Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and increased their target price for the stock from $70.00 to $90.00 in a research note on Monday, November 18th. Finally, Wells Fargo & Company raised their target price on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $82.62.

Roku Price Performance

The firm has a market capitalization of $11.10 billion, a price-to-earnings ratio of -63.90 and a beta of 2.05. The stock has a 50 day moving average price of $76.70 and a two-hundred day moving average price of $70.57.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. The company 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%. Roku’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the company posted ($2.33) EPS. As a group, research analysts expect that Roku, Inc. will post -1.09 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the sale, the insider now directly owns 3,790 shares in the company, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their position. The sale 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 on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the transaction, the chief financial officer now directly owns 63,555 shares in the company, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 73,095 shares of company stock worth $5,726,218 over the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors have recently bought and sold shares of ROKU. Raelipskie Partnership acquired a new stake in shares of Roku during the 3rd quarter worth about $32,000. EverSource Wealth Advisors LLC raised its holdings 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 in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Roku during the third quarter worth approximately $43,000. GS Investments Inc. boosted its holdings in shares of Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares in the last quarter. Finally, Cedar Wealth Management LLC purchased a new position in shares of Roku in the 2nd quarter valued at $48,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.