Roku (NASDAQ:ROKU) Trading Up 2.5% Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s share price was up 2.5% during mid-day trading on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $80.00 to $90.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $77.42 and last traded at $76.50. Approximately 1,278,378 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 4,567,084 shares. The stock had previously closed at $74.67.

Several other research analysts have also recently commented on the company. Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $50.00 to $72.00 in a research report on Thursday, September 5th. Benchmark reissued a “buy” rating and issued a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Friday, September 13th. Bank of America dropped their price target on shares of Roku from $85.00 to $75.00 and set a “buy” rating on the stock in a research report on Friday, August 2nd. Finally, Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $78.75.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the sale, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the firm’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now directly owns 38,602 shares of the company’s stock, valued at $2,485,582.78. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at $4,087,933.11. The disclosure for this sale can be found here. Insiders sold a total of 46,945 shares of company stock worth $3,465,135 over the last quarter. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of hedge funds have recently added to or reduced their stakes in the stock. Quarry LP increased its position in shares of Roku by 160.2% in the fourth quarter. Quarry LP now owns 432 shares of the company’s stock worth $40,000 after purchasing an additional 266 shares during the period. Benjamin Edwards Inc. increased its holdings in Roku by 43.5% in the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock valued at $40,000 after buying an additional 187 shares during the period. EverSource Wealth Advisors LLC raised its position in shares of Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after buying an additional 375 shares in the last quarter. Geneos Wealth Management Inc. raised its position in shares of Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after buying an additional 610 shares in the last quarter. Finally, Cedar Wealth Management LLC bought a new stake in shares of Roku during the 2nd quarter worth approximately $48,000. Institutional investors own 86.30% of the company’s stock.

Roku Trading Up 0.1 %

The company’s 50-day moving average is $63.03 and its 200-day moving average is $61.07. The firm has a market cap of $11.17 billion, a price-to-earnings ratio of -19.41 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The company had revenue of $968.18 million for the quarter, compared to analyst estimates of $937.78 million. During the same quarter last year, the company posted ($0.76) EPS. The company’s revenue for the quarter was up 14.3% compared to the same quarter last year. Equities research analysts forecast that Roku, Inc. will post -1.45 EPS for the current year.

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.