Roku (NASDAQ:ROKU) Stock Price Up 2.5% on Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) rose 2.5% during mid-day trading on Friday after Wedbush raised their price target on the stock from $75.00 to $85.00. Wedbush currently has an outperform rating on the stock. Roku traded as high as $76.23 and last traded at $75.91. Approximately 874,620 shares were traded during trading, a decline of 80% from the average daily volume of 4,342,373 shares. The stock had previously closed at $74.04.

Several other research firms also recently weighed in on ROKU. Bank of America lifted their target price on shares of Roku from $75.00 to $90.00 and gave the company a “buy” rating in a report on Monday, September 30th. Citigroup lifted their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Rosenblatt Securities decreased their price objective on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Benchmark reaffirmed a “buy” rating and set a $105.00 price objective on shares of Roku in a research report on Thursday, September 12th. Finally, Robert W. Baird lifted their price objective on shares of Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Hold” and an average price target of $82.30.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 15,454 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the transaction, the insider now directly owns 200 shares in the company, valued at $15,000. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, insider Charles Collier sold 15,454 shares of the firm’s stock in a transaction dated 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 transaction, the insider now directly owns 200 shares in the company, valued at approximately $15,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $387,544. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,566 shares of company stock worth $5,254,000 in the last ninety days. 13.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. SteelPeak Wealth LLC lifted its position in Roku by 77.9% in the 1st quarter. SteelPeak Wealth LLC now owns 9,159 shares of the company’s stock valued at $597,000 after purchasing an additional 4,011 shares during the last quarter. Allspring Global Investments Holdings LLC lifted its position in Roku by 243.1% in the 1st quarter. Allspring Global Investments Holdings LLC now owns 2,045 shares of the company’s stock valued at $133,000 after purchasing an additional 1,449 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its position in Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Azzad Asset Management Inc. ADV lifted its position in Roku by 21.4% in the 1st quarter. Azzad Asset Management Inc. ADV now owns 5,485 shares of the company’s stock valued at $357,000 after purchasing an additional 968 shares during the last quarter. Finally, Benjamin F. Edwards & Company Inc. acquired a new position in Roku during the 1st quarter valued at about $61,000. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Performance

The stock has a market cap of $10.87 billion, a price-to-earnings ratio of -18.95 and a beta of 2.08. The company’s 50 day simple moving average is $72.04 and its 200 day simple moving average is $63.22.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million for the quarter, compared to analysts’ expectations of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. Roku’s quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter last year, the company earned ($0.76) EPS. Sell-side analysts predict that Roku, Inc. will post -1.44 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.