Roku (NASDAQ:ROKU) Trading Up 0% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) was up 0% on Thursday . The company traded as high as $69.72 and last traded at $68.74. Approximately 786,869 shares were traded during mid-day trading, a decline of 82% from the average daily volume of 4,416,027 shares. The stock had previously closed at $68.71.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on ROKU shares. Loop Capital boosted their price target on Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Jefferies Financial Group dropped their target price on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Benchmark reiterated a “buy” rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. upped their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a research note on Thursday, October 10th. Two analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, Roku currently has a consensus rating of “Moderate Buy” and a consensus price target of $84.67.

Roku Trading Down 0.0 %

The firm has a market capitalization of $9.97 billion, a price-to-earnings ratio of -57.55 and a beta of 2.07. The business has a 50-day moving average price of $74.66 and a two-hundred day moving average price of $64.97.

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

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. This trade represents a 83.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. This represents a 1.81 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 90,240 shares of company stock valued at $6,729,582 in the last three months. 13.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently modified their holdings of the company. Holocene Advisors LP bought a new position in Roku during the third quarter valued at about $129,015,000. Westfield Capital Management Co. LP raised its holdings in Roku by 126.1% during the third 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 in the last quarter. Point72 Asset Management L.P. raised its holdings in Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after buying an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP raised its holdings in Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock valued at $40,359,000 after buying an additional 445,777 shares in the last quarter. Finally, FMR LLC raised its holdings in Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after buying an additional 244,793 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.