By otakuyassine3@gmail.com 
Roku, Inc. (NASDAQ:ROKU – Get Free Report) shares shot up 0.4% during mid-day trading on Thursday . The company traded as high as $79.95 and last traded at $79.90. 171,090 shares were traded during trading, a decline of 96% from the average session volume of 4,333,516 shares. The stock had previously closed at $79.56.
Wall Street Analysts Forecast Growth
Several research analysts have commented on ROKU shares. Wolfe Research upgraded Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price for the company in a research note on Thursday, September 12th. Benchmark reiterated a “buy” rating and issued a $105.00 target price on shares of Roku in a research note on Thursday, September 12th. Piper Sandler raised their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Macquarie reiterated an “outperform” rating and issued a $90.00 price objective on shares of Roku in a research report on Thursday, October 31st. Finally, Jefferies Financial Group reduced their target price on Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research report on Friday, November 1st. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.81.
Check Out Our Latest Research Report on ROKU
Roku Price Performance
The stock has a market capitalization of $11.18 billion, a P/E ratio of -64.19 and a beta of 2.06. The firm’s 50 day moving average price is $75.42 and its 200 day moving average price is $68.44.
Roku (NASDAQ:ROKU – Get Free Report) last posted its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company posted ($2.33) EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, equities research analysts forecast that Roku, Inc. will post -1.1 earnings per share for the current year.
Insider Buying and Selling
In other news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $387,544. This trade represents a 83.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, 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 completion of the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This represents a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 73,096 shares of company stock valued at $5,661,223 over the last ninety days. Company insiders own 13.98% of the company’s stock.
Hedge Funds Weigh In On Roku
A number of hedge funds have recently bought and sold shares of ROKU. Raelipskie Partnership purchased a new position in Roku in the third quarter worth about $32,000. EverSource Wealth Advisors LLC increased its position in shares of Roku by 123.4% during the second quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock valued at $40,000 after acquiring an additional 375 shares in the last quarter. Future Financial Wealth Managment LLC purchased a new position in Roku in the 3rd quarter worth approximately $43,000. GS Investments Inc. lifted its position in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after acquiring an additional 147 shares in the last quarter. Finally, Cedar Wealth Management LLC purchased a new stake in Roku during the 2nd quarter valued at $48,000. Institutional investors own 86.30% of the company’s stock.
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.
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