Roku (NASDAQ:ROKU) Trading 14.1% Higher on Analyst Upgrade

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 14.1% during mid-day trading on Monday after UBS Group raised their price target on the stock from $73.00 to $90.00. UBS Group currently has a neutral rating on the stock. Roku traded as high as $104.96 and last traded at $99.07. 18,449,453 shares traded hands during trading, an increase of 644% from the average session volume of 2,480,833 shares. The stock had previously closed at $86.80.

Other equities research analysts have also issued research reports about the company. Loop Capital lifted their price objective on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Moffett Nathanson downgraded shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 target price for the company. in a research note on Friday, January 10th. JPMorgan Chase & Co. upped their price target on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a research note on Friday. Bank of America raised their price objective on shares of Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a report on Friday. Finally, Jefferies Financial Group lowered their target price on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a report on Friday, November 1st. Three analysts have rated the stock with a sell rating, five have issued a hold rating, fourteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average price target of $92.62.

Insiders Place Their Bets

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total transaction of $77,180.00. Following the sale, the chief financial officer now directly owns 63,555 shares in the company, valued at $4,905,174.90. The trade was a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total value of $2,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares in the company, valued at approximately $2,193,100.32. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 77,421 shares of company stock valued at $6,448,886 in the last quarter. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of Roku by 369.9% in the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 270 shares in the last quarter. Vision Financial Markets LLC purchased a new stake in Roku in the fourth quarter worth about $30,000. Raelipskie Partnership bought a new position in shares of Roku during the third quarter valued at approximately $32,000. Game Plan Financial Advisors LLC bought a new position in shares of Roku during the fourth quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd lifted its holdings in shares of Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock valued at $37,000 after purchasing an additional 491 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

The stock has a market capitalization of $14.38 billion, a P/E ratio of -82.56 and a beta of 2.05. The business has a 50-day moving average price of $80.86 and a 200 day moving average price of $74.18.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. As a group, research analysts forecast that Roku, Inc. will post -1.09 earnings per share for the current fiscal 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.