Roku (NASDAQ:ROKU) Stock Price Up 3.3% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price shot up 3.3% during trading on Friday . The company traded as high as $84.40 and last traded at $83.73. 819,166 shares changed hands during mid-day trading, a decline of 69% from the average session volume of 2,661,338 shares. The stock had previously closed at $81.08.

Analysts Set New Price Targets

Several research firms have issued reports on ROKU. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. UBS Group initiated coverage on Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price objective on the stock. Morgan Stanley raised their target price on Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a report on Tuesday, October 29th. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research note on Tuesday, January 7th. Finally, Wells Fargo & Company raised their price objective on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research note on Thursday, October 31st. Three equities 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 assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, Roku has an average rating of “Moderate Buy” and a consensus target price of $83.18.

Roku Stock Performance

The company has a market capitalization of $12.34 billion, a price-to-earnings ratio of -70.83 and a beta of 2.05. The company has a fifty day simple moving average of $79.52 and a two-hundred day simple moving average of $72.48.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the transaction, the chief financial officer now owns 64,555 shares in the company, valued at $5,340,635.15. This trade represents a 1.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.14, for a total value of $766,248.94. Following the sale, the insider now owns 3,790 shares of the company’s stock, valued at $269,620.60. This represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 72,885 shares of company stock worth $5,712,912. 13.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. GS Investments Inc. lifted its position in shares of Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock worth $44,000 after purchasing an additional 147 shares in the last quarter. PFG Investments LLC lifted its holdings in Roku by 3.7% in the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock worth $310,000 after buying an additional 150 shares in the last quarter. True Vision MN LLC boosted its position in Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock valued at $375,000 after buying an additional 152 shares during the last quarter. Richard W. Paul & Associates LLC grew its stake in shares of Roku by 1.1% during the fourth quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock valued at $1,189,000 after acquiring an additional 177 shares in the last quarter. Finally, CIBC Asset Management Inc increased its position in shares of Roku by 5.2% during the fourth quarter. CIBC Asset Management Inc now owns 3,859 shares of the company’s stock worth $287,000 after acquiring an additional 191 shares during the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

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.