Roku (NASDAQ:ROKU) Stock Price Up 6.6% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s stock price shot up 6.6% during trading on Wednesday . The stock traded as high as $74.45 and last traded at $71.82. 3,300,326 shares were traded during mid-day trading, a decline of 10% from the average session volume of 3,681,129 shares. The stock had previously closed at $67.36.

Analyst Upgrades and Downgrades

Several brokerages recently commented on ROKU. Loop Capital increased their price objective 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. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Bank of America raised their price target on shares of Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday, February 14th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $70.00 price objective for the company in a report on Tuesday, March 4th. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $96.71.

Roku Trading Up 7.7 %

The firm has a 50-day simple moving average of $81.31 and a two-hundred day simple moving average of $77.12. The company has a market capitalization of $10.59 billion, a price-to-earnings ratio of -81.73 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 3.15% and a negative return on equity of 5.34%. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Equities research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insiders Place Their Bets

In related news, CAO Matthew C. Banks sold 1,906 shares of the business’s stock in a transaction on Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the completion of the sale, the chief accounting officer now directly owns 7,256 shares of the company’s stock, valued at $583,092.16. The trade was a 20.80 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Friday, January 10th. The shares were sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 92,308 shares of company stock worth $8,213,436 over the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently modified their holdings of the business. Wealth Enhancement Advisory Services LLC boosted its position in Roku by 19.7% during the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 6,225 shares of the company’s stock worth $463,000 after acquiring an additional 1,024 shares during the last quarter. Audent Global Asset Management LLC boosted its holdings in shares of Roku by 222.9% in the 4th quarter. Audent Global Asset Management LLC now owns 21,127 shares of the company’s stock valued at $1,571,000 after purchasing an additional 14,584 shares during the last quarter. Siemens Fonds Invest GmbH acquired a new position in shares of Roku in the 4th quarter valued at $1,681,000. Fluent Financial LLC acquired a new position in shares of Roku in the 4th quarter valued at $660,000. Finally, United Advisor Group LLC boosted its holdings in shares of Roku by 0.9% in the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after purchasing an additional 130 shares during the last quarter. Hedge funds and other 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.