Roku (NASDAQ:ROKU) Trading Up 0.2% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) was up 0.2% during mid-day trading on Tuesday . The company traded as high as $79.37 and last traded at $78.98. Approximately 224,264 shares changed hands during trading, a decline of 95% from the average daily volume of 4,347,896 shares. The stock had previously closed at $78.80.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Wedbush reissued an “outperform” rating and issued a $100.00 price objective (up previously from $85.00) on shares of Roku in a report on Friday, December 6th. Rosenblatt Securities upped their price objective on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Piper Sandler lifted their target price on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Benchmark reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Finally, Jefferies Financial Group dropped their target price on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.81.

Roku Stock Performance

The stock has a market capitalization of $11.55 billion, a PE ratio of -66.30 and a beta of 2.06. The firm’s 50 day moving average is $75.39 and its two-hundred day moving average is $68.15.

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 analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the company earned ($2.33) earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. On average, analysts anticipate that Roku, Inc. will post -1.1 EPS for the current year.

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 8,693 shares of Roku stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. The trade was a 54.48 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the completion of the sale, the chief financial officer now owns 64,555 shares in the company, valued at approximately $5,340,635.15. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,096 shares of company stock valued at $5,661,223. 13.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Large investors have recently made changes to their positions in the company. GS Investments Inc. boosted its holdings in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares during the period. PFG Investments LLC grew its position in Roku by 3.7% during the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after purchasing an additional 150 shares during the last quarter. True Vision MN LLC increased its stake in 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 during the period. Sequoia Financial Advisors LLC boosted its stake in shares of Roku by 4.5% during the third quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after buying an additional 202 shares during the period. Finally, Allspring Global Investments Holdings LLC grew its holdings in shares of Roku by 11.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after buying an additional 222 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.