Roku (NASDAQ:ROKU) Shares Up 2.3% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares rose 2.3% during mid-day trading on Wednesday . The company traded as high as $82.79 and last traded at $82.30. Approximately 911,005 shares were traded during mid-day trading, a decline of 75% from the average daily volume of 3,611,682 shares. The stock had previously closed at $80.41.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Bank of America upped their price objective on Roku from $90.00 to $120.00 and gave the company a “buy” rating in a report on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Tuesday, January 7th. Finally, Citigroup upped their price target on Roku from $70.00 to $103.00 and gave the company a “neutral” rating in a research note on Thursday, February 20th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and a consensus target price of $96.71.

Roku Price Performance

The firm has a market capitalization of $11.19 billion, a price-to-earnings ratio of -86.15 and a beta of 2.12. The firm has a 50 day moving average price of $82.30 and a 200-day moving average price of $76.74.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Equities research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the transaction, the chief financial officer now directly owns 63,555 shares in the company, valued at $4,905,174.90. This represents a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of Roku stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 118,308 shares of company stock worth $10,362,166 in the last 90 days. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in ROKU. Farther Finance Advisors LLC increased its stake in shares of Roku by 23.9% during the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after acquiring an additional 121 shares during the last quarter. United Advisor Group LLC grew its holdings in Roku by 0.9% in the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock valued at $1,073,000 after purchasing an additional 130 shares during the period. Cerity Partners LLC grew its holdings in Roku by 0.5% in the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock valued at $1,984,000 after purchasing an additional 145 shares during the period. GS Investments Inc. increased its position in 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 during the last quarter. Finally, True Vision MN LLC raised its position in shares of Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after buying an additional 152 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.