Roku (NASDAQ:ROKU) Trading 2.8% Higher – What’s Next?

Roku, Inc. (NASDAQ:ROKU)’s stock price rose 2.8% during mid-day trading on Tuesday . The stock traded as high as $69.41 and last traded at $69.04. Approximately 679,240 shares changed hands during trading, a decline of 85% from the average daily volume of 4,428,106 shares. The stock had previously closed at $67.18.

Analyst Upgrades and Downgrades

ROKU has been the topic of several recent research reports. Bank of America raised their price objective on Roku from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 30th. Robert W. Baird raised their price objective on shares of Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a report on Monday, September 30th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price on the stock in a report on Friday, August 23rd. Piper Sandler raised their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Finally, Wells Fargo & Company boosted their price objective on shares of Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $83.95.

Roku Trading Down 0.3 %

The business has a 50-day moving average of $73.28 and a 200 day moving average of $64.00. The firm has a market capitalization of $10.42 billion, a P/E ratio of -60.08 and a beta of 2.07.

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

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, CFO Dan Jedda sold 1,000 shares of the 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 sale, the chief financial officer now directly owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s 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 $1,875,000.00. Following the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 69,776 shares of company stock worth $5,267,305. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. PFG Investments LLC raised its position in shares of Roku by 3.7% in the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after buying an additional 150 shares in the last quarter. Mcdonald Partners LLC raised its holdings in shares of Roku by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after acquiring an additional 175 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in shares of Roku by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after acquiring an additional 202 shares during the last quarter. Allspring Global Investments Holdings LLC grew its holdings in shares of Roku by 11.2% during the third quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after purchasing an additional 222 shares in the last quarter. Finally, Beacon Capital Management LLC increased its position in shares of Roku by 17.7% in the first quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock worth $101,000 after purchasing an additional 233 shares during the last quarter. 86.30% of the stock is owned by 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.