Roku (NASDAQ:ROKU) Trading Up 1.8% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s share price traded up 1.8% during trading on Tuesday . The company traded as high as $99.10 and last traded at $98.26. 2,716,240 shares were traded during mid-day trading, a decline of 27% from the average session volume of 3,741,361 shares. The stock had previously closed at $96.52.

Analyst Upgrades and Downgrades

Several analysts have issued reports on ROKU shares. Zacks Research raised shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Friday, October 31st. KeyCorp reiterated an “overweight” rating and set a $116.00 price target on shares of Roku in a report on Tuesday, October 28th. JPMorgan Chase & Co. increased their price objective on Roku from $105.00 to $115.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Citizens Jmp restated a “market outperform” rating and set a $145.00 price objective on shares of Roku in a research report on Tuesday. Finally, Wedbush reaffirmed an “outperform” rating and set a $110.00 target price on shares of Roku in a research note on Monday, October 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, six have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $112.68.

Roku Price Performance

The business has a 50 day simple moving average of $99.06 and a 200 day simple moving average of $90.89. The stock has a market cap of $14.52 billion, a PE ratio of -491.28 and a beta of 1.98.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Thursday, October 30th. The company reported $0.16 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.07 by $0.09. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The firm’s revenue was up 14.0% on a year-over-year basis. During the same period in the previous year, the company earned ($0.06) EPS. As a group, sell-side analysts forecast that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 50,000 shares of Roku stock in a transaction on Monday, November 10th. The shares were sold at an average price of $103.86, for a total value of $5,193,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Charles Collier sold 118,088 shares of the company’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $115.00, for a total transaction of $13,580,120.00. Following the completion of the sale, the insider owned 200 shares of the company’s stock, valued at $23,000. This represents a 99.83% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 515,274 shares of company stock worth $53,880,874 in the last 90 days. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

A number of large investors have recently added to or reduced their stakes in the stock. Berkshire Capital Holdings Inc. increased its stake in shares of Roku by 1,413,400.0% in the first quarter. Berkshire Capital Holdings Inc. now owns 141,350 shares of the company’s stock worth $9,957,000 after purchasing an additional 141,340 shares during the period. Atika Capital Management LLC bought a new stake in Roku during the 1st quarter valued at approximately $5,086,000. West Tower Group LLC grew its holdings in Roku by 128.6% in the 2nd quarter. West Tower Group LLC now owns 8,000 shares of the company’s stock valued at $703,000 after buying an additional 4,500 shares during the last quarter. Blair William & Co. IL increased its position in Roku by 14.7% in the 1st quarter. Blair William & Co. IL now owns 45,727 shares of the company’s stock worth $3,221,000 after buying an additional 5,869 shares during the period. Finally, Woodline Partners LP lifted its holdings in shares of Roku by 1,056.3% during the first quarter. Woodline Partners LP now owns 306,429 shares of the company’s stock worth $21,585,000 after buying an additional 279,929 shares during the last quarter. 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.