Roku (NASDAQ:ROKU) Stock Price Up 0.6% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price traded up 0.6% on Wednesday . The company traded as high as $67.62 and last traded at $66.71. 717,952 shares were traded during trading, a decline of 84% from the average session volume of 4,400,405 shares. The stock had previously closed at $66.31.

Wall Street Analyst Weigh In

ROKU has been the topic of several research reports. Morgan Stanley lifted their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a report on Tuesday, October 29th. JPMorgan Chase & Co. upped their price objective on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Guggenheim raised 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. Wedbush boosted their price target on shares of Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Finally, Macquarie reissued an “outperform” rating and issued a $90.00 price objective on shares of Roku in a research note on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, thirteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $84.14.

Roku Trading Up 2.1 %

The firm has a 50-day simple moving average of $74.16 and a 200-day simple moving average of $65.25. The firm has a market cap of $9.83 billion, a P/E ratio of -55.59 and a beta of 2.07.

Roku (NASDAQ:ROKU) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion for 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($2.33) earnings per share. Research analysts predict that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Activity at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $387,544. The trade was a 83.28 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock valued at $6,729,582 over the last 90 days. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of large investors have recently made changes to their positions in the stock. Franklin Resources Inc. grew its stake in Roku by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock valued at $6,275,000 after purchasing an additional 10,416 shares during the last quarter. Sender Co & Partners Inc. acquired a new position in Roku in the 3rd quarter worth approximately $827,000. M&T Bank Corp raised its position in Roku by 19.1% during the 3rd quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock worth $525,000 after buying an additional 1,126 shares during the last quarter. Raelipskie Partnership acquired a new stake in Roku during the 3rd quarter valued at approximately $32,000. Finally, Nomura Asset Management Co. Ltd. boosted its holdings in shares of Roku by 14.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock valued at $2,719,000 after acquiring an additional 4,500 shares during the last quarter. 86.30% of the stock is 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.