Roku (NASDAQ:ROKU) Stock Price Up 1.3% Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price traded up 1.3% on Wednesday after Morgan Stanley raised their price target on the stock from $60.00 to $65.00. Morgan Stanley currently has an underweight rating on the stock. Roku traded as high as $77.61 and last traded at $77.39. 936,088 shares changed hands during mid-day trading, a decline of 78% from the average session volume of 4,310,478 shares. The stock had previously closed at $76.41.

Several other brokerages have also recently issued reports on ROKU. Wells Fargo & Company raised shares of Roku from an "underweight" rating to an "equal weight" rating and raised their target price for the stock from $50.00 to $72.00 in a report on Thursday, September 5th. Benchmark reissued a "buy" rating and issued a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Wolfe Research raised Roku from a "peer perform" rating to an "outperform" rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Bank of America lifted their price target on Roku from $75.00 to $90.00 and gave the company a "buy" rating in a research report on Monday, September 30th. Finally, Citigroup raised their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a "neutral" rating in a research note on Wednesday, September 25th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $82.55.

Insider Transactions at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction on Thursday, September 12th. The stock was 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated 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 completion of the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the business's stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 69,566 shares of company stock valued at $5,254,000 over the last ninety days. Insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Several large investors have recently added to or reduced their stakes in ROKU. EverSource Wealth Advisors LLC boosted its position in shares of Roku by 123.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company's stock valued at $40,000 after acquiring an additional 375 shares during the last quarter. Future Financial Wealth Managment LLC acquired a new position in Roku in the 3rd quarter valued at about $43,000. Geneos Wealth Management Inc. grew its stake in shares of Roku by 835.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company's stock valued at $45,000 after buying an additional 610 shares during the period. Cedar Wealth Management LLC purchased a new stake in shares of Roku in the 2nd quarter valued at approximately $48,000. Finally, Natixis acquired a new stake in shares of Roku during the 1st quarter worth approximately $53,000. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Stock Performance

The stock has a market cap of $11.17 billion, a PE ratio of -19.40 and a beta of 2.08. The company's 50-day moving average price is $72.95 and its 200 day moving average price is $63.56.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business 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%. The company's quarterly revenue was up 14.3% on a year-over-year basis. During the same quarter in the prior year, the company posted ($0.76) EPS. As a group, equities research analysts predict that Roku, Inc. will post -1.43 earnings per share for the current fiscal year.

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.