Roku (NASDAQ:ROKU) Stock Price Up 2.1% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s stock price rose 2.1% during mid-day trading on Wednesday . The company traded as high as $78.40 and last traded at $78.20. Approximately 590,852 shares changed hands during trading, a decline of 87% from the average daily volume of 4,413,348 shares. The stock had previously closed at $76.62.

Analyst Upgrades and Downgrades

ROKU has been the topic of a number of analyst reports. Benchmark reissued a “buy” rating and set a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Robert W. Baird upped their target price on Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research note on Monday, September 30th. Morgan Stanley upped their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. 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, Needham & Company LLC restated a “buy” rating and set a $100.00 target price 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 and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $83.95.

Roku Trading Down 1.2 %

The stock has a fifty day simple moving average of $74.12 and a two-hundred day simple moving average of $64.51.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion during 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 firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the business posted ($2.33) EPS. Sell-side analysts predict that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Activity

In other Roku news, insider Charles Collier sold 15,454 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the transaction, the insider now owns 200 shares of the company’s stock, valued at $15,000. This trade represents a 98.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares in the company, valued at approximately $2,485,582.78. This represents a 4.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 69,776 shares of company stock worth $5,267,305 in the last three months. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds have recently modified their holdings of the company. EverSource Wealth Advisors LLC lifted its position in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after buying an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Roku in the 3rd quarter valued at approximately $43,000. GS Investments Inc. grew its stake in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares in the last quarter. Cedar Wealth Management LLC purchased a new position in Roku in the 2nd quarter valued at approximately $48,000. Finally, Natixis purchased a new position in Roku in the 1st quarter valued at approximately $53,000. Institutional investors own 86.30% of the company’s stock.

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.