Roku (ROKU) Trading Up 7.1%
Roku, Inc. (NASDAQ:ROKU)’s share price was up 7.1% during mid-day trading on Tuesday . The stock traded as high as $48.20 and last traded at $47.98. Approximately 10,302,800 shares traded hands during trading, a decline of 4% from the average daily volume of 10,763,161 shares. The stock had previously closed at $44.79.
Several equities analysts recently issued reports on ROKU shares. Needham & Company LLC started coverage on Roku in a research note on Monday, October 23rd. They set a “buy” rating and a $28.00 price objective on the stock. Vetr cut Roku from a “strong-buy” rating to a “buy” rating and set a $43.26 price objective on the stock. in a research note on Monday, November 27th. Morgan Stanley raised their price objective on Roku from $22.00 to $25.00 and gave the stock an “equal weight” rating in a research note on Thursday, November 9th. CIBC started coverage on Roku in a research note on Monday, October 23rd. They set a “market perform” rating on the stock. Finally, Oppenheimer started coverage on Roku in a research note on Monday, October 23rd. They set a “market perform” rating and a $26.00 price objective on the stock. Two research analysts have rated the stock with a sell rating, four have given a hold rating and three have given a buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $34.32.
The company has a quick ratio of 1.11, a current ratio of 1.36 and a debt-to-equity ratio of -0.09.
In other Roku news, major shareholder Mv Management X, L.L.C. sold 6,900,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $14.00, for a total value of $96,600,000.00. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink.
Hedge funds have recently bought and sold shares of the business. Dragoneer Investment Group LLC bought a new stake in Roku in the third quarter valued at $9,554,000. Pier Capital LLC bought a new stake in Roku in the third quarter valued at $1,454,000. OxFORD Asset Management LLP bought a new stake in Roku in the third quarter valued at $12,899,000. FNY Managed Accounts LLC acquired a new position in shares of Roku during the third quarter valued at $599,000. Finally, Davidson Kempner Capital Management LP acquired a new position in shares of Roku during the third quarter valued at $2,650,000. Institutional investors own 23.28% of the company’s stock.
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Roku Company Profile
Roku, Inc operates television streaming platform. The Company connects users to streaming content, enables content publishers to build and monetize audiences and provides advertisers with capabilities to engage consumers. Its Roku platform allows users to personalize their content selection with cable television replacement offerings and other streaming services that suit their budget and needs.
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