Roku (NASDAQ:ROKU) Stock Price Up 1.2% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price rose 1.2% during mid-day trading on Tuesday . The stock traded as high as $81.99 and last traded at $81.16. Approximately 464,382 shares traded hands during mid-day trading, a decline of 83% from the average daily volume of 2,764,608 shares. The stock had previously closed at $80.21.

Analyst Upgrades and Downgrades

ROKU has been the subject of a number of research analyst reports. Moffett Nathanson lowered Roku from a “neutral” rating to a “sell” rating and set a $55.00 price target for the company. in a research note on Friday, January 10th. Morgan Stanley raised their price objective on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company raised their price objective on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Loop Capital raised their price objective on Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Finally, Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $83.18.

Roku Trading Up 3.3 %

The stock has a market cap of $12.38 billion, a P/E ratio of -71.07 and a beta of 2.05. The company has a 50-day moving average price of $78.21 and a two-hundred day moving average price of $71.88.

Roku (NASDAQ:ROKU) last released its 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 the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.33) EPS. As a group, equities analysts forecast that Roku, Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction on Monday, November 18th. The stock was 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 directly owns 3,790 shares in the company, valued at $269,620.60. This represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,095 shares of company stock valued at $5,726,218 in the last quarter. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently made changes to their positions in ROKU. Holocene Advisors LP purchased a new stake in Roku in the third quarter valued at about $129,015,000. Kessler Investment Group LLC raised its stake in Roku by 21.8% in the third quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after buying an additional 13,590 shares during the last quarter. National Bank of Canada FI increased its holdings in shares of Roku by 11,626.3% in the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after purchasing an additional 149,514 shares during the period. EULAV Asset Management increased its holdings in shares of Roku by 59.1% in the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after purchasing an additional 68,000 shares during the period. Finally, Mackenzie Financial Corp acquired a new position in shares of Roku in the second quarter valued at about $662,000. 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.