Roku (NASDAQ:ROKU) Shares Up 0.1% After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s stock price traded 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 traded hands during mid-day trading, a decline of 91% from the average session volume of 4,319,035 shares. The stock had previously closed at $76.05.

ROKU has been the subject of a number of other research reports. Rosenblatt Securities decreased their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research note on Friday, August 2nd. Robert W. Baird raised their price objective on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. JPMorgan Chase & Co. boosted their target price on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Wedbush raised their price target on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Finally, Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a research note on Tuesday, October 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, Roku has a consensus rating of “Hold” and an average target price of $82.55.

Insider Buying and Selling at Roku

In other Roku news, 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 completion of the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at $387,544. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Charles Collier sold 15,454 shares of Roku stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,159,050.00. Following the transaction, the insider now owns 200 shares in the company, valued at $15,000. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 69,566 shares of company stock valued at $5,254,000. 13.98% of the stock is owned by company insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently bought and sold shares of ROKU. Nikko Asset Management Americas Inc. increased its holdings in Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares in the last quarter. Canada Pension Plan Investment Board raised its position in shares of Roku by 138.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after purchasing an additional 198,600 shares during the period. AQR Capital Management LLC lifted its stake in shares of Roku by 645.3% during the 2nd quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock valued at $13,278,000 after buying an additional 191,831 shares in the last quarter. ARK Investment Management LLC boosted its holdings in Roku by 1.3% in the 2nd quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after buying an additional 159,785 shares during the period. Finally, Andra AP fonden increased its stake in Roku by 116.6% in the 2nd quarter. Andra AP fonden now owns 293,900 shares of the company’s stock worth $17,613,000 after buying an additional 158,200 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Up 0.5 %

The firm has a market capitalization of $11.02 billion, a P/E ratio of -19.15 and a beta of 2.08. The stock has a fifty day simple moving average of $72.66 and a 200 day simple moving average of $63.44.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping 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 analysts’ expectations of $937.78 million. During the same period in the previous year, the firm earned ($0.76) EPS. The firm’s revenue was up 14.3% compared to the same quarter last year. Research analysts anticipate that Roku, Inc. will post -1.43 earnings per share for the current fiscal year.

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.