Roku (NASDAQ:ROKU) Trading 0.2% Higher After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shot up 0.2% on Tuesday after Loop Capital raised their price target on the stock from $70.00 to $80.00. Loop Capital currently has a hold rating on the stock. Roku traded as high as $85.28 and last traded at $84.27. Approximately 415,774 shares changed hands during trading, a decline of 91% from the average session volume of 4,425,088 shares. The stock had previously closed at $84.12.

A number of other brokerages also recently 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. Guggenheim upgraded shares of 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. Jefferies Financial Group reduced their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research note on Friday, November 1st. Piper Sandler lifted their target price on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and upped their price target for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $83.81.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the sale, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the sale, the chief financial officer now owns 65,555 shares of the company’s stock, valued at approximately $4,916,625. This trade represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 88,550 shares of company stock worth $6,621,873. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors have recently modified their holdings of ROKU. Holocene Advisors LP purchased a new position in Roku in the third quarter worth $129,015,000. Westfield Capital Management Co. LP boosted its holdings in shares of 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 buying an additional 856,401 shares during the last quarter. Point72 Asset Management L.P. grew its position in Roku by 352.5% during the third quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after buying an additional 507,643 shares during the period. JAT Capital Mgmt LP increased its holdings in Roku by 470.2% during the third quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after buying an additional 445,777 shares during the last quarter. Finally, FMR LLC increased its holdings in Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock worth $1,087,824,000 after buying an additional 244,793 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

Roku Stock Down 2.7 %

The firm has a market cap of $11.88 billion, a P/E ratio of -68.18 and a beta of 2.06. The firm’s 50-day simple moving average is $74.56 and its 200 day simple moving average is $66.49.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The company had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same quarter in the previous year, the firm posted ($2.33) EPS. Roku’s revenue was up 16.5% on a year-over-year basis. As a group, analysts forecast that Roku, Inc. will post -1.1 earnings per share 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.