Roku (NASDAQ:ROKU) Trading Up 0% – Here’s What Happened

Shares of Roku, Inc. (NASDAQ:ROKU) rose 0% during mid-day trading on Thursday . The company traded as high as $69.72 and last traded at $68.74. Approximately 786,869 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 4,416,027 shares. The stock had previously closed at $68.71.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on ROKU shares. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Tuesday, October 1st. Piper Sandler lifted their price objective on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Monday. Finally, Macquarie reissued an “outperform” rating and issued a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $84.67.

Roku Trading Down 0.0 %

The firm has a 50 day moving average price of $74.66 and a 200-day moving average price of $64.97. The firm has a market cap of $9.97 billion, a PE ratio of -57.55 and a beta of 2.07.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter last year, the business posted ($2.33) EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. The trade was a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. This trade represents a 4.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,240 shares of company stock valued at $6,729,582. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors have recently modified their holdings of ROKU. Raelipskie Partnership purchased a new stake in Roku during the third quarter worth $32,000. EverSource Wealth Advisors LLC raised its holdings in shares of Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after acquiring an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in shares of Roku in the third quarter worth $43,000. GS Investments Inc. raised its holdings in shares of Roku by 33.4% in the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after acquiring an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC acquired a new position in shares of Roku in the second quarter worth $48,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.