Roku (NASDAQ:ROKU) Trading Up 0.2% After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) was up 0.2% during mid-day trading on Tuesday after Loop Capital raised their price target on the stock from $70.00 to $80.00. Loop Capital currently has a hold rating on the stock. Roku traded as high as $85.28 and last traded at $84.27. Approximately 415,774 shares traded hands during mid-day trading, a decline of 91% from the average daily volume of 4,425,088 shares. The stock had previously closed at $84.12.

ROKU has been the topic of several other reports. Piper Sandler increased their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and increased their price target for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Morgan Stanley increased their price target on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Wednesday, December 4th. Finally, Rosenblatt Securities increased their price target on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $83.81.

Insider Activity at Roku

In other news, insider Charles Collier sold 10,771 shares of the firm’s stock in a transaction that occurred on 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 owns 3,790 shares in the company, valued at $269,620.60. This trade represents a 73.97 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. This represents a 1.81 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 48,096 shares of company stock valued at $3,587,823. 13.98% of the stock is owned by corporate insiders.

Institutional Trading of Roku

Institutional investors have recently added to or reduced their stakes in the stock. Sequoia Financial Advisors LLC grew its stake in shares of Roku by 6.4% in the second quarter. Sequoia Financial Advisors LLC now owns 4,519 shares of the company’s stock worth $271,000 after acquiring an additional 270 shares in the last quarter. Diversified Trust Co purchased a new stake in shares of Roku during the 2nd quarter worth $546,000. Wealth Enhancement Advisory Services LLC lifted its position in shares of Roku by 19.8% during the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 6,836 shares of the company’s stock worth $410,000 after purchasing an additional 1,131 shares during the last quarter. Assenagon Asset Management S.A. lifted its position in shares of Roku by 36.0% during the 2nd quarter. Assenagon Asset Management S.A. now owns 147,691 shares of the company’s stock worth $8,851,000 after purchasing an additional 39,111 shares during the last quarter. Finally, Blue Trust Inc. lifted its position in shares of Roku by 3,310.5% during the 2nd quarter. Blue Trust Inc. now owns 2,592 shares of the company’s stock worth $169,000 after purchasing an additional 2,516 shares during the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Stock Up 0.7 %

The stock has a market capitalization of $11.97 billion, a PE ratio of -68.68 and a beta of 2.06. The business’s 50-day moving average is $74.73 and its two-hundred day moving average is $66.60.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating analysts’ consensus estimates 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 period in the previous year, the company earned ($2.33) earnings per share. Roku’s quarterly revenue was up 16.5% compared to the same quarter last year. As a group, analysts anticipate that Roku, Inc. will post -1.1 EPS for the current year.

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.