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

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price rose 0.2% on Tuesday after Loop Capital raised their price target on the stock from $70.00 to $80.00. Loop Capital currently has a hold rating on the stock. Roku traded as high as $85.28 and last traded at $84.27. Approximately 415,774 shares changed hands during mid-day trading, a decline of 91% from the average daily volume of 4,425,088 shares. The stock had previously closed at $84.12.

A number of other equities research analysts have also recently issued reports on the stock. JPMorgan Chase & Co. increased their target price on shares of Roku from $90.00 to $92.00 and gave the stock an "overweight" rating in a research report on Thursday, October 10th. Bank of America raised their price objective on shares of Roku from $75.00 to $90.00 and gave the stock a "buy" rating in a report on Monday, September 30th. UBS Group assumed coverage on Roku in a report on Friday, November 22nd. They issued a "neutral" rating and a $73.00 target price on the stock. Baird R W raised Roku from a "hold" rating to a "strong-buy" rating in a report on Monday, November 18th. Finally, Rosenblatt Securities lifted their price objective on Roku from $61.00 to $86.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating, twelve have assigned a buy rating and one has assigned a strong buy rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $83.81.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company's stock, valued at approximately $376,500. The trade was a 83.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the business's stock in a transaction that occurred on Monday, November 18th. The stock was sold at an average price of $71.44, for a total value of $621,027.92. Following the sale, the chief accounting officer now owns 7,264 shares of the company's stock, valued at approximately $518,940.16. This represents a 54.48 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 88,550 shares of company stock worth $6,621,873. Corporate insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Several institutional investors have recently added to or reduced their stakes in ROKU. SG Americas Securities LLC boosted its stake in shares of Roku by 238.6% in 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. Kessler Investment Group LLC grew its holdings in shares of Roku by 21.8% during the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company's stock worth $5,672,000 after purchasing an additional 13,590 shares in the last quarter. Holocene Advisors LP bought a new position in shares of Roku in the third quarter worth $129,015,000. EULAV Asset Management raised its stake in Roku by 59.1% in the third quarter. EULAV Asset Management now owns 183,000 shares of the company's stock valued at $13,663,000 after purchasing an additional 68,000 shares in the last quarter. Finally, Granite Bay Wealth Management LLC bought a new stake in Roku during the second quarter worth about $1,142,000. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Down 2.7 %

The business's 50 day simple moving average is $74.56 and its 200-day simple moving average is $66.49. The stock has a market capitalization of $11.88 billion, a price-to-earnings ratio of -68.18 and a beta of 2.06.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.29. The company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company's revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the company posted ($2.33) EPS. On average, analysts expect that Roku, Inc. will post -1.1 earnings per share for the current 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.