Roku (NASDAQ:ROKU) Trading 2.9% Higher After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s stock price rose 2.9% during trading on Monday after Wells Fargo & Company raised their price target on the stock from $45.00 to $52.00. Wells Fargo & Company currently has an underweight rating on the stock. Roku traded as high as $59.89 and last traded at $58.01. Approximately 4,747,396 shares changed hands during mid-day trading, a decline of 18% from the average daily volume of 5,791,074 shares. The stock had previously closed at $56.35.

Other equities research analysts also recently issued research reports about the stock. Pivotal Research lowered their target price on shares of Roku from $85.00 to $75.00 and set a “hold” rating for the company in a research note on Friday, February 16th. Benchmark lowered their target price on shares of Roku from $115.00 to $105.00 and set a “buy” rating for the company in a research note on Friday. Stephens reaffirmed an “overweight” rating and issued a $105.00 target price on shares of Roku in a research note on Friday, February 16th. Wedbush lowered their target price on shares of Roku from $80.00 to $75.00 and set an “outperform” rating for the company in a research note on Friday. Finally, Needham & Company LLC reissued a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Friday. Four analysts have rated the stock with a sell rating, nine have issued a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $84.47.

Insider Buying and Selling

In other Roku news, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $272,392.00. Following the completion of the sale, the senior vice president now owns 81,459 shares in the company, valued at $5,148,208.80. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Roku news, insider Charles Collier sold 8,365 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total value of $528,668.00. Following the completion of the sale, the insider now owns 12,656 shares in the company, valued at $799,859.20. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, SVP Stephen H. Kay sold 4,310 shares of the stock in a transaction on Monday, March 4th. The shares were sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the sale, the senior vice president now owns 81,459 shares of the company’s stock, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 54,545 shares of company stock worth $4,364,035. 13.63% of the stock is owned by insiders.

Institutional Trading of Roku

A number of large investors have recently added to or reduced their stakes in ROKU. FMR LLC lifted its stake in Roku by 85.9% in the third quarter. FMR LLC now owns 9,441,349 shares of the company’s stock valued at $666,465,000 after acquiring an additional 4,363,754 shares during the last quarter. Sumitomo Mitsui Trust Holdings Inc. lifted its stake in Roku by 24.7% in the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after acquiring an additional 1,457,925 shares during the last quarter. Norges Bank acquired a new stake in Roku in the fourth quarter valued at $90,386,000. Lord Abbett & CO. LLC bought a new position in shares of Roku in the third quarter valued at about $55,182,000. Finally, Wellington Management Group LLP raised its position in shares of Roku by 34.6% in the third quarter. Wellington Management Group LLP now owns 2,543,081 shares of the company’s stock valued at $179,516,000 after purchasing an additional 653,940 shares during the period. Institutional investors and hedge funds own 86.30% of the company’s stock.

Roku Price Performance

The company has a market capitalization of $8.42 billion, a P/E ratio of -14.70 and a beta of 1.66. The company’s 50-day moving average price is $62.53 and its two-hundred day moving average price is $78.50.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, beating the consensus estimate of ($0.64) by $0.29. The company had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative net margin of 15.64% and a negative return on equity of 23.73%. The company’s revenue was up 19.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.38) earnings per share. On average, analysts anticipate that Roku, Inc. will post -2.12 earnings per share for the current fiscal year.

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.