Roku (NASDAQ:ROKU) Stock Price Up 0.2% After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s share price traded up 0.2% during mid-day trading on Friday after Macquarie raised their price target on the stock from $72.00 to $90.00. Macquarie currently has an outperform rating on the stock. Roku traded as high as $77.23 and last traded at $75.60. 512,450 shares were traded during mid-day trading, a decline of 89% from the average session volume of 4,480,425 shares. The stock had previously closed at $75.45.

Several other research firms have also recently weighed in on ROKU. JPMorgan Chase & Co. boosted their price target on Roku from $80.00 to $90.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 18th. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 target price for the company in a research report on Friday, August 23rd. Benchmark reaffirmed a “buy” rating and set a $105.00 price target on shares of Roku in a report on Thursday, September 12th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target for the company in a research note on Tuesday, October 1st. Finally, Rosenblatt Securities lowered their price objective on shares of Roku from $89.00 to $61.00 and set a “neutral” rating on the stock in a research report on Friday, August 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $81.14.

Insider Transactions at Roku

In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the transaction, the chief financial officer now owns 54,267 shares in the company, valued at approximately $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, September 17th. The shares were sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $376,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 47,156 shares of company stock worth $3,481,100 in the last three months. Insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Swedbank AB purchased a new position in Roku in the 1st quarter worth about $1,180,000. SG Americas Securities LLC boosted its holdings in shares of Roku by 238.6% in the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after purchasing an additional 51,815 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in shares of Roku by 23.3% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock valued at $4,094,000 after purchasing an additional 11,851 shares during the period. Garde Capital Inc. bought a new position in Roku in the fourth quarter worth approximately $105,000. Finally, Vanguard Group Inc. increased its holdings in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after purchasing an additional 92,658 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Trading Up 0.6 %

The stock has a 50-day simple moving average of $66.00 and a two-hundred day simple moving average of $61.90.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The company had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. During the same period in the prior year, the firm earned ($0.76) earnings per share. The firm’s revenue for the quarter was up 14.3% compared to the same quarter last year. On average, equities research analysts predict that Roku, Inc. will post -1.44 earnings per share for the current 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.