Roku (NASDAQ:ROKU) Trading 6.4% Higher – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) were up 6.4% on Thursday . The stock traded as high as $84.92 and last traded at $83.00. Approximately 5,495,623 shares changed hands during trading, an increase of 70% from the average daily volume of 3,238,221 shares. The stock had previously closed at $77.99.

Analysts Set New Price Targets

A number of analysts have recently commented on the company. Moffett Nathanson cut Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective for the company. in a research report on Friday. Morgan Stanley boosted their price objective on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Roku in a research note on Tuesday. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Finally, Macquarie reiterated an “outperform” rating and issued a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $82.62.

Roku Price Performance

The business’s 50 day moving average price is $75.99 and its 200-day moving average price is $69.89. The company has a market cap of $11.50 billion, a P/E ratio of -65.99 and a beta of 2.05.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the company posted ($2.33) EPS. Roku’s revenue was up 16.5% on a year-over-year basis. As a group, research analysts forecast that Roku, Inc. will post -1.1 EPS for the current year.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the sale, the chief financial officer now directly owns 65,555 shares of the company’s stock, valued at approximately $4,916,625. This represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the sale, the insider now directly owns 3,790 shares in the company, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 48,095 shares of company stock valued at $3,731,038. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors and hedge funds have recently modified their holdings of the company. Holocene Advisors LP bought a new stake in shares of Roku in the 3rd quarter valued at about $129,015,000. Kessler Investment Group LLC grew its stake in Roku by 21.8% in the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after buying an additional 13,590 shares during the last quarter. National Bank of Canada FI grew its stake in Roku by 11,626.3% in the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after buying an additional 149,514 shares during the last quarter. EULAV Asset Management grew its stake in Roku by 59.1% in the 3rd quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after buying an additional 68,000 shares during the last quarter. Finally, Granite Bay Wealth Management LLC acquired a new position in Roku in the 2nd quarter valued at about $1,142,000. 86.30% of the stock is owned by 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.