Roku (NASDAQ:ROKU) Stock Price Up 2.8% – Here’s Why

Roku, Inc. (NASDAQ:ROKU) traded up 2.8% during trading on Thursday . The company traded as high as $107.46 and last traded at $107.23. 2,283,416 shares traded hands during trading, a decline of 24% from the average session volume of 2,998,510 shares. The stock had previously closed at $104.26.

Analyst Ratings Changes

ROKU has been the subject of a number of recent analyst reports. Wedbush raised their price objective on Roku from $115.00 to $130.00 and gave the stock an “outperform” rating in a research report on Thursday, December 11th. UBS Group raised their target price on Roku from $95.00 to $103.00 and gave the stock a “neutral” rating in a report on Monday, November 3rd. Rosenblatt Securities increased their target price on shares of Roku from $101.00 to $106.00 and gave the stock a “neutral” rating in a research note on Friday, October 31st. Citizens Jmp reiterated a “market outperform” rating and set a $145.00 target price on shares of Roku in a research report on Tuesday, December 2nd. Finally, Piper Sandler upgraded Roku from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $88.00 to $135.00 in a research note on Monday, November 3rd. Twenty-two research analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $118.79.

Roku Trading Up 2.8%

The firm has a 50 day moving average price of $104.20 and a 200-day moving average price of $98.35. The firm has a market cap of $15.84 billion, a PE ratio of -536.12 and a beta of 1.95.

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

Insider Buying and Selling

In other news, insider Charles Collier sold 118,088 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, the insider directly owned 200 shares of the company’s stock, valued at $23,000. This trade represents a 99.83% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Gilbert Fuchsberg sold 3,250 shares of the firm’s stock in a transaction dated Friday, December 12th. The shares were sold at an average price of $108.78, for a total transaction of $353,535.00. Following the completion of the sale, the insider owned 59,094 shares of the company’s stock, valued at $6,428,245.32. This trade represents a 5.21% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 393,282 shares of company stock valued at $42,591,859 over the last ninety days. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Empowered Funds LLC lifted its holdings in shares of Roku by 18.6% during the 1st quarter. Empowered Funds LLC now owns 3,291 shares of the company’s stock valued at $232,000 after acquiring an additional 515 shares in the last quarter. Focus Partners Wealth acquired a new stake in shares of Roku during the 1st quarter valued at approximately $229,000. Wealth Enhancement Advisory Services LLC boosted its holdings in shares of Roku by 56.1% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 16,777 shares of the company’s stock valued at $1,481,000 after buying an additional 6,030 shares during the period. Farther Finance Advisors LLC grew its holdings in shares of Roku by 227.2% during the second quarter. Farther Finance Advisors LLC now owns 1,855 shares of the company’s stock valued at $163,000 after purchasing an additional 1,288 shares during the last quarter. Finally, Public Employees Retirement System of Ohio increased its position in Roku by 102.5% in the second quarter. Public Employees Retirement System of Ohio now owns 94,366 shares of the company’s stock worth $8,294,000 after buying an additional 47,760 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.