Roku (NASDAQ:ROKU) Sees Unusually-High Trading Volume After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) saw unusually-strong trading volume on Friday after Susquehanna raised their price target on the stock from $95.00 to $100.00. Susquehanna currently has a positive rating on the stock. Approximately 13,806,022 shares changed hands during trading, an increase of 73% from the previous session’s volume of 7,965,980 shares.The stock last traded at $85.02 and had previously closed at $78.05.

Other research analysts have also recently issued reports about the company. Wedbush reissued an “outperform” rating and issued a $100.00 price target on shares of Roku in a report on Thursday. Rosenblatt Securities boosted their target price on Roku from $70.00 to $83.00 and gave the company a “neutral” rating in a research report on Thursday, September 7th. Wells Fargo & Company boosted their target price on Roku from $63.00 to $84.00 and gave the company an “equal weight” rating in a research report on Friday, July 28th. Benchmark boosted their target price on Roku from $89.00 to $115.00 and gave the company a “buy” rating in a research report on Thursday, September 7th. Finally, JPMorgan Chase & Co. boosted their target price on Roku from $95.00 to $100.00 and gave the company an “overweight” rating in a research report on Thursday, September 7th. Two equities research analysts have rated the stock with a sell rating, fifteen have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Roku presently has an average rating of “Hold” and a consensus target price of $81.26.

Insider Activity

In other Roku news, CAO Matthew C. Banks sold 1,259 shares of the company’s stock in a transaction dated Tuesday, September 5th. The stock was sold at an average price of $82.69, for a total transaction of $104,106.71. Following the sale, the chief accounting officer now owns 6,017 shares in the company, valued at approximately $497,545.73. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, CFO Dan Jedda sold 5,297 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $82.69, for a total transaction of $438,008.93. Following the completion of the transaction, the chief financial officer now directly owns 12,429 shares of the company’s stock, valued at approximately $1,027,754.01. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CAO Matthew C. Banks sold 1,259 shares of the stock in a transaction that occurred on Tuesday, September 5th. The stock was sold at an average price of $82.69, for a total value of $104,106.71. Following the transaction, the chief accounting officer now directly owns 6,017 shares of the company’s stock, valued at $497,545.73. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,988 shares of company stock valued at $1,473,024. 13.63% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently bought and sold shares of ROKU. Renaissance Technologies LLC increased its stake in Roku by 772.1% in the 1st quarter. Renaissance Technologies LLC now owns 2,808,100 shares of the company’s stock valued at $351,771,000 after purchasing an additional 2,486,100 shares in the last quarter. Wellington Management Group LLP increased its position in Roku by 97.2% during the first quarter. Wellington Management Group LLP now owns 4,174,003 shares of the company’s stock worth $522,878,000 after buying an additional 2,057,633 shares in the last quarter. FMR LLC increased its position in Roku by 62.8% during the first quarter. FMR LLC now owns 4,782,318 shares of the company’s stock worth $314,772,000 after buying an additional 1,844,297 shares in the last quarter. Two Sigma Advisers LP increased its position in Roku by 263.6% during the first quarter. Two Sigma Advisers LP now owns 2,300,300 shares of the company’s stock worth $151,406,000 after buying an additional 1,667,700 shares in the last quarter. Finally, Two Sigma Investments LP increased its position in Roku by 113.8% during the first quarter. Two Sigma Investments LP now owns 2,481,384 shares of the company’s stock worth $163,325,000 after buying an additional 1,320,728 shares in the last quarter. 69.21% of the stock is owned by hedge funds and other institutional investors.

Roku Price Performance

The firm has a 50-day simple moving average of $71.49 and a two-hundred day simple moving average of $69.00. The company has a market cap of $11.99 billion, a PE ratio of -13.74 and a beta of 1.75.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, November 1st. The company reported ($2.33) earnings per share (EPS) for the quarter, missing the consensus estimate of ($1.91) by ($0.42). Roku had a negative return on equity of 33.70% and a negative net margin of 25.79%. The business had revenue of $912.02 million for the quarter, compared to analyst estimates of $856.98 million. During the same quarter last year, the business earned ($0.88) EPS. Roku’s revenue for the quarter was up 19.8% compared to the same quarter last year. Equities research analysts forecast that Roku, Inc. will post -5.5 EPS for the current year.

Roku Company Profile

Roku, Inc, together with its subsidiaries, operates a TV streaming platform. 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 company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.