Roku (NASDAQ:ROKU) Stock Price Up 0.5% – What’s Next?

Roku, Inc. (NASDAQ:ROKU)’s share price was up 0.5% on Tuesday . The stock traded as high as $78.11 and last traded at $76.76. Approximately 758,669 shares changed hands during mid-day trading, a decline of 83% from the average daily volume of 4,407,908 shares. The stock had previously closed at $76.36.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on ROKU. Bank of America raised their price objective on shares of Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Robert W. Baird boosted their price target on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a report on Thursday, September 12th. Citigroup lifted their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target for the company in a research note on Friday, August 23rd. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, Roku has an average rating of “Hold” and a consensus target price of $81.24.

Roku Stock Down 0.8 %

The company has a market cap of $11.09 billion, a P/E ratio of -19.29 and a beta of 2.08. The business has a fifty day moving average price of $69.60 and a 200-day moving average price of $62.62.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The firm had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same period in the prior year, the firm posted ($0.76) EPS. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, research analysts expect that Roku, Inc. will post -1.44 earnings per share for the current year.

Insider Buying and Selling

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the sale, the chief financial officer now owns 53,267 shares of the company’s stock, valued at $4,061,608.75. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction on Tuesday, October 15th. The stock was sold at an average price of $76.25, for a total transaction of $76,250.00. Following the completion of the sale, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,566 shares of company stock valued at $5,254,000. 13.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Swedbank AB bought a new position in shares of Roku in the first quarter worth about $1,180,000. SG Americas Securities LLC grew its position in Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after acquiring an additional 51,815 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Roku by 23.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after purchasing an additional 11,851 shares in the last quarter. Vanguard Group Inc. raised its position in Roku by 0.8% in the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after purchasing an additional 92,658 shares during the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of Roku by 6,522.2% during the first quarter. Acadian Asset Management LLC now owns 157,409 shares of the company’s stock valued at $10,252,000 after purchasing an additional 155,032 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.