Roku (NASDAQ:ROKU) Stock Price Up 3% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 3% during trading on Thursday . The company traded as high as $112.69 and last traded at $110.87. 2,525,453 shares changed hands during trading, a decline of 32% from the average session volume of 3,734,852 shares. The stock had previously closed at $107.69.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Zacks Research upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. Morgan Stanley set a $135.00 price target on Roku and gave the company an “overweight” rating in a research note on Tuesday. Benchmark reiterated a “buy” rating on shares of Roku in a research report on Monday, October 27th. Susquehanna restated a “positive” rating and issued a $130.00 price target on shares of Roku in a research report on Friday, October 31st. Finally, Wedbush upped their price objective on shares of Roku from $115.00 to $130.00 and gave the stock an “outperform” rating in a research note on Thursday, December 11th. One analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $116.91.

Roku Stock Up 3.0%

The stock’s 50-day moving average price is $99.60 and its 200-day moving average price is $93.46. The company has a market capitalization of $16.38 billion, a price-to-earnings ratio of -554.32 and a beta of 1.98.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, October 30th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Roku had a negative net margin of 0.61% and a negative return on equity of 1.08%. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter last year, the business posted ($0.06) earnings per share. Roku’s revenue for the quarter was up 14.0% compared to the same quarter last year. On average, equities research analysts anticipate that Roku, Inc. will post -0.3 EPS for the current year.

Insider Activity at Roku

In other Roku news, insider Gilbert Fuchsberg sold 3,250 shares of the business’s stock in a transaction dated Friday, December 12th. The stock was sold at an average price of $108.78, for a total transaction of $353,535.00. Following the completion of the sale, the insider directly owned 59,094 shares of the company’s stock, valued at approximately $6,428,245.32. The trade was a 5.21% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CFO Dan Jedda sold 3,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $107.44, for a total transaction of $322,320.00. Following the transaction, the chief financial officer owned 90,267 shares in the company, valued at approximately $9,698,286.48. The trade was a 3.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 468,918 shares of company stock valued at $49,840,981 over the last quarter. 13.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

A number of institutional investors and hedge funds have recently modified their holdings of ROKU. Westfuller Advisors LLC bought a new position in Roku in the third quarter valued at approximately $30,000. Root Financial Partners LLC bought a new stake in shares of Roku during the 3rd quarter valued at $33,000. Cornerstone Planning Group LLC lifted its stake in shares of Roku by 20,450.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 411 shares of the company’s stock valued at $41,000 after purchasing an additional 409 shares during the period. Beaird Harris Wealth Management LLC acquired a new position in shares of Roku in the 1st quarter valued at $30,000. Finally, Banque Transatlantique SA bought a new position in shares of Roku in the 1st quarter worth $28,000. 86.30% of the stock is owned by institutional investors.

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.