Roku (NASDAQ:ROKU) Trading Up 0.4% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU) shares shot up 0.4% during trading on Monday . The stock traded as high as $83.65 and last traded at $83.33. 536,810 shares changed hands during trading, a decline of 88% from the average session volume of 4,387,953 shares. The stock had previously closed at $82.99.

Analyst Ratings Changes

ROKU has been the topic of several research reports. Benchmark reaffirmed a “buy” rating and issued a $105.00 target price on shares of Roku in a report on Thursday, September 12th. Piper Sandler lifted their price objective on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Citigroup increased their target price on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Jefferies Financial Group reduced their price target on shares of Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Finally, Rosenblatt Securities lifted their price objective on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Two analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $83.81.

Roku Stock Performance

The company has a market cap of $11.40 billion, a P/E ratio of -65.41 and a beta of 2.06. The business’s fifty day moving average is $75.24 and its two-hundred day moving average is $67.40.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned ($2.33) earnings per share. Analysts expect that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Transactions at Roku

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now owns 7,264 shares in the company, valued at $518,940.16. This represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the completion of the transaction, the chief financial officer now owns 64,555 shares in the company, valued at $5,340,635.15. This represents a 1.53 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,096 shares of company stock valued at $5,661,223. 13.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

Institutional investors have recently added to or reduced their stakes in the stock. GS Investments Inc. lifted its position in shares of Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares during the last quarter. PFG Investments LLC lifted its position in Roku by 3.7% during the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after acquiring an additional 150 shares during the last quarter. True Vision MN LLC lifted its position in Roku by 3.1% during the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock valued at $375,000 after acquiring an additional 152 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Roku by 4.5% in the third quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock worth $352,000 after purchasing an additional 202 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC grew its holdings in Roku by 11.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after purchasing an additional 222 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.