Roku (NASDAQ:ROKU) Stock Price Up 1% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s stock price rose 1% during mid-day trading on Monday . The company traded as high as $77.22 and last traded at $75.89. Approximately 1,793,660 shares were traded during mid-day trading, a decline of 17% from the average daily volume of 2,150,769 shares. The stock had previously closed at $75.16.

Analyst Ratings Changes

A number of research firms recently commented on ROKU. Jefferies Financial Group decreased their price target on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Moffett Nathanson lowered shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective on the stock. in a report on Friday, January 10th. Baird R W raised shares of Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Morgan Stanley boosted their price objective on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Finally, Citigroup increased their price objective on Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $83.18.

Roku Trading Up 5.1 %

The business’s 50-day moving average price is $76.72 and its two-hundred day moving average price is $70.88.

Roku (NASDAQ:ROKU) last posted its 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. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period in the previous year, the firm earned ($2.33) earnings per share. The company’s revenue was up 16.5% on a year-over-year basis. On average, research analysts anticipate that Roku, Inc. will post -1.09 EPS for the current year.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief financial officer now owns 65,555 shares in the company, valued at approximately $4,916,625. This represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Collier sold 10,771 shares of Roku stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the completion of the sale, the insider now directly owns 3,790 shares in the company, valued at $269,620.60. This represents a 73.97 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 73,095 shares of company stock worth $5,726,218. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of large investors have recently modified their holdings of the business. Geneos Wealth Management Inc. increased its stake in shares of Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares during the last quarter. Raelipskie Partnership bought a new stake in shares of Roku during the third quarter worth approximately $32,000. EverSource Wealth Advisors LLC grew its position in shares of Roku by 123.4% in the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after purchasing an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new stake in Roku during the 3rd quarter worth approximately $43,000. Finally, GS Investments Inc. boosted its stake in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.