Roku (NASDAQ:ROKU) Stock Price Up 0.8% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) rose 0.8% during trading on Wednesday . The stock traded as high as $84.84 and last traded at $83.43. Approximately 957,885 shares traded hands during trading, a decline of 67% from the average daily volume of 2,859,426 shares. The stock had previously closed at $82.75.

Analysts Set New Price Targets

ROKU has been the topic of a number of recent analyst reports. Morgan Stanley increased their target price on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Macquarie reiterated an “outperform” rating and issued a $90.00 price objective on shares of Roku in a research note on Thursday, October 31st. Jefferies Financial Group decreased their price objective 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. Piper Sandler upped their price target on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Rosenblatt Securities boosted their price objective on shares of Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $83.18.

Roku Price Performance

The stock has a market cap of $12.33 billion, a PE ratio of -70.81 and a beta of 2.05. The company’s fifty day moving average is $79.99 and its 200-day moving average is $73.03.

Insiders Place Their Bets

In other news, insider Charles Collier sold 10,771 shares of Roku stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the sale, the insider now owns 3,790 shares in the company, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The stock was sold at an average price of $82.73, for a total transaction of $82,730.00. Following the sale, the chief financial officer now owns 64,555 shares of the company’s stock, valued at $5,340,635.15. This trade represents a 1.53 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,885 shares of company stock valued at $5,712,912 in the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

Several large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. boosted its stake in shares of 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 buying an additional 270 shares during the last quarter. Vision Financial Markets LLC acquired a new stake in shares of Roku in the 4th quarter valued at about $30,000. Raelipskie Partnership bought a new position in shares of Roku during the third quarter worth about $32,000. Game Plan Financial Advisors LLC acquired a new position in Roku in the fourth quarter worth about $37,000. Finally, Harvest Fund Management Co. Ltd raised its stake in Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after buying an additional 491 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.