Roku (NASDAQ:ROKU) Trading 1.6% Higher – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 1.6% during mid-day trading on Monday . The stock traded as high as $102.85 and last traded at $101.70. 2,874,002 shares changed hands during trading, a decline of 23% from the average session volume of 3,744,850 shares. The stock had previously closed at $100.09.

Analyst Ratings Changes

ROKU has been the topic of a number of research analyst reports. Susquehanna reissued a “positive” rating and issued a $130.00 price target on shares of Roku in a report on Friday, October 31st. KeyCorp reiterated an “overweight” rating and set a $116.00 price objective on shares of Roku in a research report on Tuesday, October 28th. JPMorgan Chase & Co. boosted their target price on shares of Roku from $105.00 to $115.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Rosenblatt Securities raised their target price on shares of Roku from $101.00 to $106.00 and gave the company a “neutral” rating in a research note on Friday, October 31st. Finally, Guggenheim boosted their price target on shares of Roku from $110.00 to $115.00 and gave the stock a “buy” rating in a research note on Thursday. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, six have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $113.14.

Roku Stock Up 1.6%

The business’s fifty day moving average is $98.88 and its two-hundred day moving average is $91.61. The stock has a market capitalization of $15.03 billion, a PE ratio of -508.47 and a beta of 1.98.

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

Insider Activity at Roku

In other Roku news, insider Charles Collier sold 118,088 shares of the stock in a transaction on Friday, October 31st. The stock was sold at an average price of $115.00, for a total value of $13,580,120.00. Following the sale, the insider owned 200 shares in the company, valued at $23,000. This trade represents a 99.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Mustafa Ozgen sold 50,527 shares of Roku stock in a transaction that occurred on Tuesday, September 9th. The shares were sold at an average price of $100.00, for a total transaction of $5,052,700.00. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 491,195 shares of company stock valued at $51,517,886. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of large investors have recently bought and sold shares of the business. Vanguard Group Inc. raised its position in shares of Roku by 2.5% in the 3rd quarter. Vanguard Group Inc. now owns 12,998,674 shares of the company’s stock worth $1,301,557,000 after acquiring an additional 322,858 shares in the last quarter. Acadian Asset Management LLC boosted its holdings in shares of Roku by 41.2% in the 2nd quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock valued at $236,545,000 after buying an additional 785,864 shares in the last quarter. AQR Capital Management LLC grew its position in shares of Roku by 275.5% in the 3rd quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock worth $258,897,000 after buying an additional 1,897,407 shares during the last quarter. Tableaux LLC purchased a new position in shares of Roku in the 2nd quarter worth approximately $1,746,000. Finally, Holocene Advisors LP raised its stake in shares of Roku by 352.3% during the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after acquiring an additional 1,285,585 shares in 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.