Roku (NASDAQ:ROKU) Trading 2.3% Higher Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 2.3% on Monday 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 $77.25 and last traded at $76.99. 529,082 shares were traded during mid-day trading, a decline of 88% from the average session volume of 4,330,803 shares. The stock had previously closed at $75.27.

Other equities analysts also recently issued research reports about the stock. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th. Moffett Nathanson upgraded Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price on the stock in a research report on Tuesday, October 1st. Macquarie lifted their price target on Roku from $72.00 to $90.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective on the stock in a report on Friday, August 23rd. Finally, Wells Fargo & Company raised Roku from an “underweight” rating to an “equal weight” rating and lifted their target price for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $82.30.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total transaction of $76,250.00. Following the sale, the chief financial officer now owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the transaction, the chief financial officer now directly owns 53,267 shares in the company, valued at $4,061,608.75. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 69,566 shares of company stock valued at $5,254,000 over the last ninety days. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently made changes to their positions in the company. Future Financial Wealth Managment LLC purchased a new stake in Roku during the 3rd quarter valued at $43,000. EverSource Wealth Advisors LLC lifted its holdings in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares in the last quarter. Geneos Wealth Management Inc. boosted its position in shares of Roku by 835.6% during the first quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock valued at $45,000 after buying an additional 610 shares during the last quarter. Cedar Wealth Management LLC bought a new stake in Roku in the 2nd quarter worth about $48,000. Finally, Natixis purchased a new position in Roku in the 1st quarter worth about $53,000. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Up 2.2 %

The firm has a 50 day moving average price of $72.38 and a 200 day moving average price of $63.34. The stock has a market cap of $11.13 billion, a P/E ratio of -22.19 and a beta of 2.08.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company’s revenue for the quarter was up 14.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.76) earnings per share. Equities analysts predict that Roku, Inc. will post -1.43 earnings per share for the current fiscal 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.