Roku (NASDAQ:ROKU) Trading 2.5% Higher on Analyst Upgrade

Shares of Roku, Inc. (NASDAQ:ROKU) traded up 2.5% during trading 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.

Other equities research analysts have also issued reports about the stock. Benchmark reiterated a “buy” rating and issued a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective on the stock in a research note on Tuesday, October 1st. JPMorgan Chase & Co. boosted their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Tuesday. Finally, Citigroup boosted their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $82.30.

Insiders Place Their Bets

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction dated Wednesday, September 4th. The shares were 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. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,566 shares of company stock valued at $5,254,000 in the last three months. 13.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently bought and sold shares of the business. Smith Group Asset Management LLC acquired a new position in shares of Roku during the 3rd quarter worth approximately $547,000. PFG Investments LLC increased its holdings in shares of Roku by 3.7% in the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after purchasing an additional 150 shares during the last quarter. Cross Staff Investments Inc bought a new position in shares of Roku in the third quarter valued at about $224,000. International Assets Investment Management LLC lifted its stake in shares of Roku by 8,030.0% during the 3rd quarter. International Assets Investment Management LLC now owns 108,780 shares of the company’s stock worth $8,122,000 after buying an additional 107,442 shares during the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings 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 buying an additional 202 shares during the period. Institutional investors own 86.30% of the company’s stock.

Roku Trading Up 1.7 %

The firm has a market cap of $10.85 billion, a price-to-earnings ratio of -18.86 and a beta of 2.08. The stock’s 50 day moving average is $72.38 and its 200 day moving average is $63.32.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. The company had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the business earned ($0.76) earnings per share. On average, equities research analysts predict that Roku, Inc. will post -1.44 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.