Roku (NASDAQ:ROKU) Trading 0.1% Higher Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shot up 0.1% on Tuesday after Morgan Stanley raised their price target on the stock from $60.00 to $65.00. Morgan Stanley currently has an underweight rating on the stock. Roku traded as high as $76.47 and last traded at $76.11. 370,001 shares changed hands during trading, a decline of 91% from the average session volume of 4,319,035 shares. The stock had previously closed at $76.05.

Several other research analysts have also weighed in on the company. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price target on the stock in a research report on Friday, August 23rd. Wedbush upped their target price on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday. Rosenblatt Securities decreased their price target on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a report on Friday, August 2nd. Benchmark reiterated a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Finally, Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 target price for the company in a research note on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat, Roku presently has a consensus rating of “Hold” and an average target price of $82.55.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the transaction, the chief executive officer now directly 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 transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Roku news, insider Charles Collier sold 15,454 shares of the firm’s 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 sale, the insider now directly owns 200 shares in the company, valued at $15,000. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business’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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 69,566 shares of company stock valued at $5,254,000 in the last quarter. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Future Financial Wealth Managment LLC acquired a new stake in shares of Roku during the 3rd quarter worth approximately $43,000. EverSource Wealth Advisors LLC boosted its stake in Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after buying an additional 375 shares in the last quarter. Geneos Wealth Management Inc. increased its holdings in 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 during the period. Cedar Wealth Management LLC acquired a new position in shares of Roku in the 2nd quarter valued at $48,000. Finally, Natixis bought a new position in shares of Roku during the 1st quarter worth about $53,000. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Performance

The firm has a market capitalization of $11.00 billion, a price-to-earnings ratio of -19.08 and a beta of 2.08. The firm’s 50-day moving average price is $72.66 and its two-hundred day moving average price is $63.44.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $937.78 million. During the same period in the previous year, the business earned ($0.76) earnings per share. The company’s quarterly revenue was up 14.3% on a year-over-year basis. As a group, equities research analysts anticipate that Roku, Inc. will post -1.43 EPS for the current year.

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.