Roku (NASDAQ:ROKU) Trading 5% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) shares were up 5% on Wednesday . The company traded as high as $83.45 and last traded at $81.87. Approximately 1,767,172 shares traded hands during trading, a decline of 28% from the average daily volume of 2,440,119 shares. The stock had previously closed at $77.99.

Analyst Upgrades and Downgrades

ROKU has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their target price on shares of Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Loop Capital boosted their target price on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a report on Tuesday. Macquarie reiterated an “outperform” rating and issued a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Finally, Piper Sandler raised their target price on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.81.

Roku Stock Up 7.5 %

The firm has a 50 day moving average price of $75.50 and a 200 day moving average price of $69.71. The stock has a market capitalization of $12.18 billion, a PE ratio of -69.88 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, beating the consensus estimate of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations 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 revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned ($2.33) EPS. On average, equities analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $387,544. This trade represents a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 10,771 shares of Roku stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the transaction, the insider now directly owns 3,790 shares of the company’s stock, valued at $269,620.60. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 73,095 shares of company stock worth $5,661,038 in the last 90 days. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. GS Investments Inc. increased 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 worth $44,000 after buying an additional 147 shares during the last quarter. PFG Investments LLC raised its holdings in Roku by 3.7% during the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after buying an additional 150 shares during the last quarter. True Vision MN LLC grew its stake in shares of Roku by 3.1% in the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after purchasing an additional 152 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Roku by 4.5% during the third quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after buying an additional 202 shares during the period. Finally, Allspring Global Investments Holdings LLC raised its holdings in Roku by 11.2% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after purchasing an additional 222 shares in the last quarter. 86.30% of the stock is owned by 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.