Roku (NASDAQ:ROKU) Trading Up 0.2% on Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shares shot up 0.2% during trading on Tuesday after Loop Capital raised their price target on the stock from $70.00 to $80.00. Loop Capital currently has a hold rating on the stock. Roku traded as high as $85.28 and last traded at $84.27. 415,774 shares changed hands during mid-day trading, a decline of 91% from the average session volume of 4,425,088 shares. The stock had previously closed at $84.12.

A number of other equities analysts have also issued reports on the company. UBS Group started coverage on Roku in a research report on Friday, November 22nd. They issued a “neutral” rating and a $73.00 target price on the stock. Piper Sandler upped their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Rosenblatt Securities raised their price objective on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price on the stock in a research note on Tuesday, October 1st. Finally, Benchmark reiterated a “buy” rating and issued a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and a consensus price target of $83.81.

Insider Activity

In related news, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,159,050.00. Following the sale, the insider now directly owns 200 shares in the company, valued at $15,000. This trade represents a 98.72 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. This trade represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 88,550 shares of company stock valued at $6,621,873. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. GS Investments Inc. lifted its position in shares of Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares in the last quarter. PFG Investments LLC lifted its holdings in shares of Roku by 3.7% in the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after purchasing an additional 150 shares in the last quarter. True Vision MN LLC lifted its holdings 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 valued at $375,000 after purchasing an additional 152 shares in the last quarter. Mcdonald Partners LLC grew its holdings in shares of Roku by 0.9% during the second quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after buying an additional 175 shares in the last quarter. Finally, Sequoia Financial Advisors LLC raised its position in 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. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Stock Performance

The stock has a market capitalization of $12.24 billion, a PE ratio of -70.22 and a beta of 2.06. The firm has a 50 day moving average of $74.41 and a 200-day moving average of $66.31.

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

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.