Roku (NASDAQ:ROKU) Shares Up 2.8% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) rose 2.8% on Tuesday . The company traded as high as $69.41 and last traded at $69.04. 679,240 shares were traded during trading, a decline of 85% from the average session volume of 4,428,106 shares. The stock had previously closed at $67.18.

Analyst Upgrades and Downgrades

ROKU has been the subject of several analyst reports. Jefferies Financial Group lowered their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday, November 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 research report on Friday, August 23rd. Rosenblatt Securities increased their price target on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Finally, Loop Capital increased their target price on Roku from $65.00 to $70.00 and gave the company a “hold” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $83.95.

Roku Price Performance

The company has a market capitalization of $10.42 billion, a P/E ratio of -60.08 and a beta of 2.07. The company’s 50-day moving average price is $73.28 and its two-hundred day moving average price is $64.00.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. The firm 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 revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the business posted ($2.33) earnings per share. On average, analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Charles Collier sold 15,454 shares of the business’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the sale, the insider now owns 200 shares of the company’s stock, valued at approximately $15,000. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In related news, insider Charles Collier sold 15,454 shares of the stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the sale, the insider now owns 200 shares of the company’s stock, valued at $15,000. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the 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 sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,776 shares of company stock worth $5,267,305 in the last 90 days. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Institutional investors and hedge funds have recently made changes to their positions in the company. ARK Investment Management LLC raised its position in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after purchasing an additional 159,785 shares in the last quarter. Vanguard Group Inc. lifted its position in shares of Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after buying an additional 92,658 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in Roku by 5.2% in the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock valued at $30,013,000 after buying an additional 24,926 shares in the last quarter. Swiss National Bank grew its position in Roku by 1.3% in the third quarter. Swiss National Bank now owns 376,800 shares of the company’s stock valued at $28,132,000 after acquiring an additional 5,000 shares during the last quarter. Finally, Canada Pension Plan Investment Board raised its stake in Roku by 138.1% during the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after acquiring an additional 198,600 shares in the last quarter. Institutional investors 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.