Roku (NASDAQ:ROKU) Trading Up 1.9% – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shares traded up 1.9% during mid-day trading on Wednesday . The company traded as high as $84.29 and last traded at $83.34. 425,016 shares changed hands during trading, a decline of 90% from the average session volume of 4,416,229 shares. The stock had previously closed at $81.82.

Analyst Ratings Changes

A number of analysts have weighed in on ROKU shares. Macquarie reiterated an “outperform” rating and issued a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Needham & Company LLC reiterated a “buy” rating and set a $100.00 price objective on shares of Roku in a report on Wednesday, December 4th. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Rosenblatt Securities increased their price objective on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Wolfe Research raised Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research report on Thursday, September 12th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, Roku has a consensus rating of “Moderate Buy” and a consensus price target of $83.81.

Roku Trading Up 1.3 %

The stock has a 50-day moving average price of $74.86 and a two-hundred day moving average price of $66.70. The stock has a market cap of $12.05 billion, a price-to-earnings ratio of -68.28 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.29. The business had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned ($2.33) earnings per share. Research analysts predict that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Transactions at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at approximately $4,087,933.11. The trade was a 1.81 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on 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 sale, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. The trade was a 83.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,096 shares of company stock worth $5,653,823. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds have recently added to or reduced their stakes in the business. FMR LLC lifted its holdings in shares of Roku by 1.7% in the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after buying an additional 244,793 shares during the period. ARK Investment Management LLC raised its position in Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after acquiring an additional 159,785 shares in the last quarter. Holocene Advisors LP acquired a new position in Roku in the third quarter valued at approximately $129,015,000. Westfield Capital Management Co. LP boosted its position in Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after purchasing an additional 856,401 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Roku by 3.2% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 955,969 shares of the company’s stock worth $71,373,000 after purchasing an additional 30,038 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.