Roku (NASDAQ:ROKU) Trading Up 1.6% - Here's What Happened

Roku, Inc. (NASDAQ:ROKU - Get Free Report) rose 1.6% during trading on Thursday . The stock traded as high as $85.40 and last traded at $83.92. Approximately 654,669 shares traded hands during mid-day trading, a decline of 75% from the average daily volume of 2,662,421 shares. The stock had previously closed at $82.58.

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Citizens Jmp upgraded shares of Roku to a "strong-buy" rating in a research note on Tuesday, January 21st. Moffett Nathanson cut shares of Roku from a "neutral" rating to a "sell" rating and set a $55.00 price target for the company. in a research report on Friday, January 10th. Piper Sandler raised their price objective on Roku from $60.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. UBS Group initiated coverage on Roku in a research report on Friday, November 22nd. They issued a "neutral" rating and a $73.00 target price for the company. Finally, Robert W. Baird upgraded Roku from a "neutral" rating to an "outperform" rating and raised their target price for the company from $70.00 to $90.00 in a report on Monday, November 18th. Three investment analysts have rated the stock with a sell rating, eight have given a hold rating, twelve have issued a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Roku has a consensus rating of "Moderate Buy" and a consensus price target of $83.18.

Roku Trading Up 3.3 %

The firm's fifty day moving average price is $77.88 and its 200-day moving average price is $71.78. The company has a market cap of $12.38 billion, a P/E ratio of -71.07 and a beta of 2.05.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share for the quarter, topping the consensus estimate 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter last year, the firm earned ($2.33) EPS. Roku's revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, research analysts forecast that Roku, Inc. will post -1.09 earnings per share for the current fiscal year.

Insider Activity

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of the company's stock in a transaction 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 directly owns 7,264 shares in the company, valued at $518,940.16. This represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total value of $75,000.00. Following the transaction, the chief financial officer now directly owns 65,555 shares of the company's stock, valued at approximately $4,916,625. The trade was a 1.50 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 73,095 shares of company stock worth $5,726,218. 13.98% of the stock is currently owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the company. Rhumbline Advisers grew its position in Roku by 2.8% during the 4th quarter. Rhumbline Advisers now owns 141,348 shares of the company's stock worth $10,508,000 after acquiring an additional 3,795 shares during the last quarter. C2P Capital Advisory Group LLC d.b.a. Prosperity Capital Advisors acquired a new stake in shares of Roku in the fourth quarter valued at $233,000. Van ECK Associates Corp bought a new position in shares of Roku in the fourth quarter valued at about $675,000. Allspring Global Investments Holdings LLC lifted its position in Roku by 53.7% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 3,393 shares of the company's stock worth $253,000 after buying an additional 1,186 shares in the last quarter. Finally, Summit Trail Advisors LLC increased its position in Roku by 57.7% in the 4th quarter. Summit Trail Advisors LLC now owns 7,509 shares of the company's stock valued at $558,000 after acquiring an additional 2,748 shares in the last quarter. Institutional investors own 86.30% of the company's stock.

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.

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