Roku (NASDAQ:ROKU) Shares Up 0.3% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) shares rose 0.3% during mid-day trading on Thursday . The stock traded as high as $82.10 and last traded at $81.92. Approximately 369,813 shares traded hands during mid-day trading, a decline of 86% from the average daily volume of 2,675,147 shares. The stock had previously closed at $81.65.

Wall Street Analysts Forecast Growth

ROKU has been the topic of a number of recent research reports. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Loop Capital lifted their target price on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Piper Sandler upped their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Morgan Stanley raised their price objective on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research note on Tuesday, October 29th. Finally, Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Roku has an average rating of “Moderate Buy” and an average price target of $83.18.

Roku Trading Up 4.8 %

The stock has a market cap of $12.34 billion, a PE ratio of -70.83 and a beta of 2.05. The business has a fifty day simple moving average of $79.52 and a two-hundred day simple moving average of $72.48.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 10,771 shares of Roku stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the transaction, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares in the company, valued at approximately $518,940.16. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 72,885 shares of company stock valued at $5,712,912. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

Institutional investors and hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. lifted its stake in Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the period. Vision Financial Markets LLC bought a new stake in Roku in the 4th quarter worth approximately $30,000. Raelipskie Partnership purchased a new stake in Roku during the 3rd quarter valued at $32,000. Game Plan Financial Advisors LLC bought a new position in shares of Roku during the 4th quarter valued at $37,000. Finally, Future Financial Wealth Managment LLC purchased a new position in shares of Roku in the 3rd quarter worth $43,000. Institutional investors own 86.30% of the company’s stock.

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.