Roku (NASDAQ:ROKU) Trading Up 1.9% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) shot up 1.9% on Wednesday . The company traded as high as $84.29 and last traded at $83.34. 425,016 shares traded hands during trading, a decline of 90% from the average session volume of 4,416,229 shares. The stock had previously closed at $81.82.

Analyst Ratings Changes

Several equities analysts have recently weighed in on ROKU shares. Wedbush reissued an “outperform” rating and issued a $100.00 price objective (up from $85.00) on shares of Roku in a research report on Friday, December 6th. Citigroup increased their price target on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Piper Sandler boosted their price objective on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. Bank of America lifted their price target on Roku from $75.00 to $90.00 and gave the stock a “buy” rating in a report on Monday, September 30th. Finally, Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $70.00 to $90.00 in a report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Roku currently has an average rating of “Moderate Buy” and a consensus price target of $83.81.

Roku Price Performance

The company’s fifty day moving average price is $74.56 and its 200 day moving average price is $66.49. The company has a market cap of $11.97 billion, a PE ratio of -69.45 and a beta of 2.06.

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

Insider Buying and Selling at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. This trade represents a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Charles Collier sold 15,454 shares of Roku stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the transaction, the insider now owns 200 shares of the company’s stock, valued at approximately $15,000. This trade represents a 98.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 88,550 shares of company stock worth $6,621,873 over the last ninety days. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of ROKU. Franklin Resources Inc. raised its position in shares of Roku by 14.5% in the third quarter. Franklin Resources Inc. now owns 82,170 shares of the company’s stock worth $6,275,000 after buying an additional 10,416 shares in the last quarter. Sender Co & Partners Inc. bought a new stake in shares of Roku during the 3rd quarter valued at about $827,000. M&T Bank Corp grew its holdings in shares of Roku by 19.1% during the third quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock worth $525,000 after purchasing an additional 1,126 shares in the last quarter. Raelipskie Partnership bought a new position in shares of Roku in the third quarter worth approximately $32,000. Finally, Nomura Asset Management Co. Ltd. raised its stake in Roku by 14.1% in the third quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock valued at $2,719,000 after purchasing an additional 4,500 shares in the last quarter. 86.30% of the stock is 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.