Roku (NASDAQ:ROKU) Shares Up 3.2% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) rose 3.2% on Wednesday . The stock traded as high as $78.54 and last traded at $77.20. Approximately 522,545 shares traded hands during trading, a decline of 82% from the average daily volume of 2,828,157 shares. The stock had previously closed at $74.80.

Analyst Ratings Changes

A number of analysts recently issued reports on ROKU shares. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Rosenblatt Securities increased their price objective on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wedbush reissued an “outperform” rating and set a $100.00 price objective on shares of Roku in a report on Wednesday, January 8th. UBS Group started coverage on Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price objective on the stock. Finally, Moffett Nathanson cut Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective on the stock. in a report on Friday, January 10th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, Roku presently has a consensus rating of “Hold” and a consensus price target of $82.62.

Roku Stock Performance

The firm has a 50-day moving average of $76.55 and a 200-day moving average of $70.49. The firm has a market capitalization of $11.18 billion, a P/E ratio of -64.16 and a beta of 2.05.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data 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 firm 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 business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company earned ($2.33) EPS. Equities analysts anticipate that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 65,555 shares in the company, valued at $4,916,625. This trade represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,193,100.32. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,095 shares of company stock worth $5,649,038. 13.98% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in ROKU. Choreo LLC purchased a new position in Roku during the second quarter valued at $324,000. American Century Companies Inc. raised its stake in shares of Roku by 3.5% in the second quarter. American Century Companies Inc. now owns 25,847 shares of the company’s stock worth $1,549,000 after purchasing an additional 877 shares during the last quarter. DekaBank Deutsche Girozentrale raised its stake in shares of Roku by 6.6% in the second quarter. DekaBank Deutsche Girozentrale now owns 16,430 shares of the company’s stock worth $982,000 after purchasing an additional 1,022 shares during the last quarter. Federated Hermes Inc. raised its stake in shares of Roku by 32.6% in the second quarter. Federated Hermes Inc. now owns 1,695 shares of the company’s stock worth $102,000 after purchasing an additional 417 shares during the last quarter. Finally, Envestnet Asset Management Inc. raised its stake in shares of Roku by 20.7% in the second quarter. Envestnet Asset Management Inc. now owns 110,616 shares of the company’s stock worth $6,629,000 after purchasing an additional 19,002 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.