Roku (NASDAQ:ROKU) Trading 1.2% Higher – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) rose 1.2% during trading on Tuesday . The company traded as high as $81.99 and last traded at $81.16. Approximately 464,382 shares were traded during mid-day trading, a decline of 83% from the average daily volume of 2,764,608 shares. The stock had previously closed at $80.21.

Wall Street Analyst Weigh In

ROKU has been the topic of a number of research reports. JMP Securities initiated coverage on shares of Roku in a research report on Tuesday, January 21st. They issued a “mkt outperform” rating and a $95.00 price objective on the stock. Moffett Nathanson lowered shares of 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. Loop Capital upped their price target on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Jefferies Financial Group dropped their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Finally, JPMorgan Chase & Co. upped their price target on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and an average price target of $83.18.

Roku Trading Up 3.3 %

The stock has a market cap of $12.38 billion, a price-to-earnings ratio of -71.07 and a beta of 2.05. The stock’s 50-day moving average price is $78.21 and its 200-day moving average price is $71.88.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. During the same quarter in the previous year, the company earned ($2.33) EPS. Roku’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, analysts predict that Roku, Inc. will post -1.09 earnings per share for the current year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the business’s 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 directly owns 64,555 shares of the company’s stock, valued at approximately $5,340,635.15. The trade was a 1.53 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,193,100.32. This trade represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,095 shares of company stock worth $5,726,218. 13.98% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the stock. FMR LLC increased its position in shares of Roku by 1.7% in the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Roku in the third quarter worth approximately $129,015,000. Westfield Capital Management Co. LP increased its position in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of Roku by 3.2% in the third quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after purchasing an additional 30,038 shares during the last quarter. Finally, Point72 Asset Management L.P. grew its position in Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after acquiring an additional 507,643 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.