Roku (NASDAQ:ROKU) Trading 0.6% Higher – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) were up 0.6% during trading on Tuesday . The stock traded as high as $75.87 and last traded at $75.37. Approximately 270,091 shares changed hands during mid-day trading, a decline of 94% from the average daily volume of 4,304,868 shares. The stock had previously closed at $74.89.

Analysts Set New Price Targets

Several research firms have issued reports on ROKU. Jefferies Financial Group dropped their price objective on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Macquarie restated an “outperform” rating and issued a $90.00 price target on shares of Roku in a research report on Thursday, October 31st. Piper Sandler lifted their target price on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Benchmark restated a “buy” rating and set a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research report on Wednesday, December 4th. 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 MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

Roku Trading Down 0.6 %

The stock has a market cap of $10.81 billion, a price-to-earnings ratio of -62.02 and a beta of 2.06. The company has a 50 day simple moving average of $75.37 and a 200-day simple moving average of $68.74.

Roku (NASDAQ:ROKU) last announced 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. 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%. Roku’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the firm earned ($2.33) EPS. Equities analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the sale, the chief financial officer now owns 53,267 shares in the company, valued at approximately $4,061,608.75. This represents a 1.84 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the transaction, the chief executive officer now directly owns 26,538 shares in the company, valued at $2,193,100.32. This trade represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 72,885 shares of company stock valued at $5,645,259 over the last 90 days. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

A number of large investors have recently added to or reduced their stakes in ROKU. Bank of New York Mellon Corp lifted its stake in Roku by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after purchasing an additional 24,926 shares during the last quarter. Panagora Asset Management Inc. boosted its stake in shares of Roku by 25.5% during the 2nd quarter. Panagora Asset Management Inc. now owns 14,456 shares of the company’s stock worth $866,000 after acquiring an additional 2,940 shares during the period. International Assets Investment Management LLC acquired a new position in shares of Roku during the 2nd quarter worth approximately $80,000. nVerses Capital LLC raised its stake in Roku by 100.0% in the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the company’s stock valued at $192,000 after acquiring an additional 1,600 shares during the period. Finally, Versor Investments LP lifted its holdings in Roku by 379.6% during the 2nd quarter. Versor Investments LP now owns 34,048 shares of the company’s stock valued at $2,040,000 after purchasing an additional 26,949 shares during the last quarter. Institutional investors and hedge funds 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.