Roku (NASDAQ:ROKU) Trading Up 0% – Here’s Why

Roku, Inc. (NASDAQ:ROKU) rose 0% on Thursday . The company traded as high as $87.00 and last traded at $85.58. Approximately 661,470 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 3,664,415 shares. The stock had previously closed at $85.57.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on ROKU shares. Pivotal Research upgraded Roku from a “hold” rating to a “buy” rating and boosted their price target for the company from $65.00 to $125.00 in a research report on Friday, February 14th. JMP Securities increased their price target on Roku from $95.00 to $115.00 and gave the stock a “market outperform” rating in a report on Friday, February 14th. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and boosted their price target for the stock from $74.00 to $129.00 in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised Roku from an “underperform” rating to a “hold” rating and raised their price target for the company from $55.00 to $100.00 in a report on Thursday, February 20th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.00.

Roku Stock Performance

The company has a market capitalization of $11.89 billion, a PE ratio of -91.56 and a beta of 2.05. The business has a fifty day moving average price of $82.02 and a 200 day moving average price of $75.84.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The business had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Research analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Activity at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,193,100.32. This trade represents a 48.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The stock was sold at an average price of $82.73, for a total transaction of $82,730.00. Following the completion of the transaction, the chief financial officer now owns 64,555 shares in the company, valued at $5,340,635.15. This represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 109,421 shares of company stock worth $9,660,786. 13.98% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Roku

Hedge funds and other institutional investors have recently bought and sold shares of the business. FMR LLC grew its position in shares of Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after buying an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. increased its position in shares of Roku by 1.5% in the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock worth $910,597,000 after purchasing an additional 185,676 shares during the last quarter. Marshall Wace LLP raised its stake in shares of Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after purchasing an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. lifted its position in shares of Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after purchasing an additional 215,841 shares during the last quarter. Finally, Geode Capital Management LLC raised its stake in Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock valued at $159,353,000 after buying an additional 56,820 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other 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.