Roku (NASDAQ:ROKU) Trading 0.2% Higher Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shares traded up 0.2% 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 traded hands during trading, a decline of 91% from the average session volume of 4,425,088 shares. The stock had previously closed at $84.12.

Several other equities analysts also recently weighed in on the company. Moffett Nathanson raised Roku from a “sell” rating to a “neutral” rating and set a $80.00 price objective for the company in a research note on Tuesday, October 1st. Guggenheim upgraded shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a report on Friday, August 23rd. Macquarie restated an “outperform” rating and set a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. Bank of America increased their price target on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a research report on Monday, September 30th. Finally, JPMorgan Chase & Co. lifted their price objective on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated 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 directly owns 5,020 shares in the company, valued at $376,500. This trade represents a 83.28 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Charles Collier sold 15,454 shares of the business’s stock in a transaction dated 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 owns 200 shares of the company’s stock, valued at $15,000. The trade was a 98.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 88,550 shares of company stock worth $6,621,873 in the last quarter. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently made changes to their positions in the business. FMR LLC boosted its position in Roku by 1.7% during the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after purchasing an additional 244,793 shares during the period. ARK Investment Management LLC boosted its position in shares of Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after buying an additional 159,785 shares during the period. Holocene Advisors LP purchased a new stake in shares of Roku in the third quarter worth about $129,015,000. Westfield Capital Management Co. LP raised its holdings in shares of Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares during the period. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Roku by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock valued at $71,373,000 after buying an additional 30,038 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Trading Up 0.2 %

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

Roku (NASDAQ:ROKU) last announced its earnings results 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 during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period in the prior year, the firm earned ($2.33) earnings per share. As a group, research analysts forecast that Roku, Inc. will post -1.1 EPS for the current year.

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.