Roku (NASDAQ:ROKU) Trading Up 0.2% Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) was 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. Approximately 512,450 shares changed hands during trading, a decline of 89% from the average daily volume of 4,480,425 shares. The stock had previously closed at $75.45.

A number of other equities research analysts also recently weighed in on the company. Robert W. Baird raised their price objective on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Moffett Nathanson upgraded shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target on the stock in a report on Tuesday, October 1st. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Thursday, September 12th. Rosenblatt Securities decreased their target price on shares of Roku from $89.00 to $61.00 and set a “neutral” rating for the company in a research report on Friday, August 2nd. Finally, Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and lifted their price target for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Roku has an average rating of “Hold” and a consensus target price of $81.14.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Charles Collier sold 3,590 shares of the company’s stock in a transaction dated Tuesday, July 16th. The stock was sold at an average price of $65.00, for a total value of $233,350.00. Following the sale, the insider now owns 12,064 shares in the company, valued at $784,160. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at approximately $376,500. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 47,156 shares of company stock worth $3,481,100 over the last three months. 13.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roku

Hedge funds have recently bought and sold shares of the stock. Swedbank AB purchased a new position in shares of Roku during the 1st quarter valued at approximately $1,180,000. SG Americas Securities LLC grew its position in Roku by 238.6% during the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after buying an additional 51,815 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in 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 buying an additional 11,851 shares in the last quarter. Garde Capital Inc. purchased a new position in Roku in the fourth quarter valued at $105,000. Finally, Vanguard Group Inc. boosted its stake in shares of 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 acquiring an additional 92,658 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Stock Performance

The stock has a 50-day moving average price of $66.00 and a 200 day moving average price of $61.90.

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