Roku (NASDAQ:ROKU) Trading Up 5.9% Following Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU)’s share price was up 5.9% during trading on Monday after JPMorgan Chase & Co. raised their price target on the stock from $100.00 to $105.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $85.42 and last traded at $84.70. Approximately 3,110,931 shares were traded during mid-day trading, a decline of 22% from the average daily volume of 3,988,035 shares. The stock had previously closed at $79.98.

Several other equities analysts have also recently issued reports on ROKU. KeyCorp boosted their target price on Roku from $115.00 to $116.00 and gave the company an “overweight” rating in a research note on Friday. Rosenblatt Securities boosted their target price on Roku from $75.00 to $101.00 and gave the company a “neutral” rating in a research note on Friday. Loop Capital raised Roku from a “hold” rating to a “buy” rating and boosted their target price for the company from $80.00 to $100.00 in a research note on Tuesday, June 17th. Piper Sandler boosted their target price on Roku from $65.00 to $84.00 and gave the company a “neutral” rating in a research note on Thursday, July 10th. Finally, Wells Fargo & Company boosted their target price on Roku from $100.00 to $113.00 and gave the company an “overweight” rating in a research note on Friday. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and a consensus price target of $98.96.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 3,000 shares of the company’s stock in a transaction on Tuesday, July 15th. The stock was sold at an average price of $90.20, for a total transaction of $270,600.00. Following the transaction, the chief financial officer directly owned 76,132 shares of the company’s stock, valued at $6,867,106.40. This represents a 3.79% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $89.64, for a total value of $2,241,000.00. Following the transaction, the chief executive officer directly owned 11,953 shares in the company, valued at approximately $1,071,466.92. The trade was a 67.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 308,873 shares of company stock valued at $28,076,913. 13.98% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the business. FMR LLC increased its position in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares during the last quarter. Marshall Wace LLP increased its position in Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. Acadian Asset Management LLC increased its position in Roku by 456.7% during the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock valued at $134,222,000 after acquiring an additional 1,563,449 shares during the last quarter. Cadian Capital Management LP purchased a new stake in Roku during the fourth quarter valued at $87,632,000. Finally, Jacobs Levy Equity Management Inc. increased its position in Roku by 505.3% during the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock valued at $96,402,000 after acquiring an additional 1,082,548 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

Roku Price Performance

The company has a market cap of $12.53 billion, a PE ratio of -204.36 and a beta of 2.05. The business has a 50-day moving average of $84.11 and a 200 day moving average of $77.05.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Thursday, July 31st. The company reported $0.07 EPS for the quarter, topping analysts’ consensus estimates of ($0.16) by $0.23. The business had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Roku had a negative return on equity of 2.47% and a negative net margin of 1.40%. The business’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.18) earnings per share. On average, equities analysts predict that Roku, Inc. will post -0.3 EPS for the current fiscal year.

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.