Roku (NASDAQ:ROKU) Trading 0% Higher – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 0% during trading on Friday . The stock traded as high as $82.96 and last traded at $81.94. 341,550 shares changed hands during mid-day trading, a decline of 92% from the average session volume of 4,397,279 shares. The stock had previously closed at $81.90.

Analyst Upgrades and Downgrades

Several equities analysts have recently issued reports on the company. Guggenheim upgraded Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. JPMorgan Chase & Co. boosted their price target on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Wells Fargo & Company raised their price target on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Rosenblatt Securities upped their price objective on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Finally, Loop Capital raised their target price on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research note on Monday, December 9th. Two 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’s stock. According to MarketBeat, Roku currently has an average rating of “Moderate Buy” and a consensus price target of $83.81.

Roku Trading Up 1.3 %

The stock has a 50-day moving average of $75.00 and a two-hundred day moving average of $66.96. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of -69.16 and a beta of 2.06.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.29. The firm 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%. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned ($2.33) earnings per share. Sell-side analysts expect that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Thursday, October 10th. The stock was 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 directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. This represents a 83.28 % 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 worth $5,653,823. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Franklin Resources Inc. boosted 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 period. Sender Co & Partners Inc. acquired a new position in shares of Roku during the third quarter worth approximately $827,000. M&T Bank Corp boosted its position in shares of Roku by 19.1% in the third quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock valued at $525,000 after acquiring an additional 1,126 shares during the period. Raelipskie Partnership bought a new position in Roku during the third quarter worth $32,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Roku by 14.1% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock valued at $2,719,000 after purchasing an additional 4,500 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.