Roku (NASDAQ:ROKU) Trading 0.4% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 0.4% during trading on Friday . The stock traded as high as $68.43 and last traded at $67.96. 330,640 shares were traded during trading, a decline of 92% from the average session volume of 4,392,478 shares. The stock had previously closed at $67.71.

Analyst Ratings Changes

Several research analysts have issued reports on ROKU shares. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research report on Tuesday, October 1st. Morgan Stanley lifted their price objective on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Thursday, October 31st. Finally, Jefferies Financial Group dropped their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.62.

Roku Price Performance

The stock has a fifty day moving average of $73.77 and a 200 day moving average of $65.28. The stock has a market cap of $10.02 billion, a price-to-earnings ratio of -56.63 and a beta of 2.07.

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

Insiders Place Their Bets

In related news, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at $518,940.16. The trade was a 54.48 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. The trade was a 83.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 90,240 shares of company stock valued at $6,729,582. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors have recently bought and sold shares of ROKU. Raelipskie Partnership acquired a new stake in Roku in the 3rd quarter valued at about $32,000. EverSource Wealth Advisors LLC grew its position in shares of Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC acquired a new stake in shares of Roku in the third quarter valued at approximately $43,000. GS Investments Inc. increased 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 valued at $44,000 after purchasing an additional 147 shares during the last quarter. Finally, Cedar Wealth Management LLC purchased a new position in Roku during the second quarter worth approximately $48,000. 86.30% of the stock is currently 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.