Roku (NASDAQ:ROKU) Trading 0.3% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) traded up 0.3% on Thursday . The stock traded as high as $85.71 and last traded at $85.06. 2,140,334 shares changed hands during mid-day trading, a decline of 26% from the average session volume of 2,906,844 shares. The stock had previously closed at $84.78.

Analyst Ratings Changes

A number of research firms recently commented on ROKU. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and lifted their price target for the stock from $70.00 to $90.00 in a report on Monday, November 18th. Wedbush reiterated an “outperform” rating and set a $100.00 price target on shares of Roku in a report on Monday. Wells Fargo & Company lifted their price target on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price target on shares of Roku in a report on Tuesday, January 7th. Finally, Piper Sandler lifted their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a report on Thursday, October 31st. 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 given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $83.18.

Roku Price Performance

The business’s 50-day moving average price is $80.17 and its two-hundred day moving average price is $73.28. The company has a market capitalization of $12.58 billion, a price-to-earnings ratio of -72.16 and a beta of 2.05.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the transaction, the insider now directly owns 3,790 shares in the company, valued at $269,620.60. The trade was a 73.97 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s 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 transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 97,885 shares of company stock worth $7,911,162 over the last three months. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. FMR LLC grew its stake in shares of Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after buying an additional 4,613,570 shares during the last quarter. Holocene Advisors LP bought a new stake in shares of Roku during the third quarter worth $129,015,000. Westfield Capital Management Co. LP grew its stake in shares of Roku by 126.1% during the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after buying an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. grew its stake in shares of Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after buying an additional 507,643 shares during the last quarter. Finally, JAT Capital Mgmt LP raised its position in Roku by 470.2% during the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after purchasing an additional 445,777 shares during 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.