Roku (NASDAQ:ROKU) Shares Up 1.9% – What’s Next?

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 1.9% during trading on Monday . The stock traded as high as $69.05 and last traded at $69.03. 1,540,099 shares were traded during mid-day trading, a decline of 65% from the average session volume of 4,397,954 shares. The stock had previously closed at $67.71.

Analyst Ratings Changes

Several research firms have commented on ROKU. Wells Fargo & Company lifted their target price 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. Benchmark reaffirmed a “buy” rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Piper Sandler lifted their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price target on shares of Roku in a report on Thursday, October 31st. Finally, Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $82.62.

Roku Stock Performance

The firm has a market cap of $10.02 billion, a price-to-earnings ratio of -57.52 and a beta of 2.07. The business’s 50 day moving average price is $73.63 and its 200-day moving average price is $65.38.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the business posted ($2.33) EPS. On average, analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm’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 value of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 83.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed 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 completion of the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,240 shares of company stock worth $6,729,582 over the last quarter. 13.98% of the stock is owned by company insiders.

Institutional Trading of Roku

Large investors have recently added to or reduced their stakes in the business. GS Investments Inc. boosted its stake in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares during the period. PFG Investments LLC lifted its position in Roku by 3.7% in the 3rd 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. True Vision MN LLC lifted its position in Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after buying an additional 152 shares in the last quarter. Mcdonald Partners LLC lifted its position in Roku by 0.9% in the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock worth $1,175,000 after buying an additional 175 shares in the last quarter. Finally, Sequoia Financial Advisors LLC lifted its position in Roku by 4.5% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after buying an additional 202 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

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.