Roku (NASDAQ:ROKU) Trading 0.2% Higher – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) were up 0.2% during mid-day trading on Tuesday . The company traded as high as $79.37 and last traded at $78.98. Approximately 224,264 shares changed hands during trading, a decline of 95% from the average daily volume of 4,347,896 shares. The stock had previously closed at $78.80.

Analyst Ratings Changes

Several equities analysts have commented on ROKU shares. 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 report on Tuesday, October 1st. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and upped their price target for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Wednesday, December 4th. Piper Sandler boosted their price objective on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, UBS Group assumed coverage on shares of Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 target price on the stock. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $83.81.

Roku Stock Performance

The company has a 50 day moving average of $75.37 and a two-hundred day moving average of $67.99. The stock has a market capitalization of $11.55 billion, a PE ratio of -66.30 and a beta of 2.06.

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

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. The trade was a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated 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. This represents a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,096 shares of company stock worth $5,661,223. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Hedge funds have recently modified their holdings of the stock. Franklin Resources Inc. lifted its holdings in Roku by 14.5% in the third quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock valued at $6,275,000 after acquiring an additional 10,416 shares during the period. Sender Co & Partners Inc. purchased a new stake in Roku during the third quarter worth $827,000. M&T Bank Corp grew its position in Roku by 19.1% during the third quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock valued at $525,000 after buying an additional 1,126 shares during the period. Raelipskie Partnership purchased a new position in Roku in the third quarter valued at $32,000. Finally, Nomura Asset Management Co. Ltd. increased its holdings in Roku by 14.1% in the third 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 in 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.