Roku (NASDAQ:ROKU) Trading 1.5% Higher After Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU) shares shot up 1.5% on Monday after JPMorgan Chase & Co. raised their price target on the stock from $115.00 to $125.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $110.11 and last traded at $109.03. 3,851,547 shares changed hands during trading, an increase of 3% from the average session volume of 3,737,214 shares. The stock had previously closed at $107.47.

A number of other analysts have also commented on ROKU. Wedbush lifted their target price on Roku from $115.00 to $130.00 and gave the stock an “outperform” rating in a report on Thursday. Morgan Stanley reiterated an “underweight” rating on shares of Roku in a report on Friday, October 31st. Pivotal Research boosted their target price on Roku from $120.00 to $135.00 and gave the stock a “buy” rating in a research report on Monday, November 3rd. Wells Fargo & Company raised their price target on shares of Roku from $113.00 to $116.00 and gave the company an “overweight” rating in a report on Friday, October 31st. Finally, Jefferies Financial Group upgraded shares of Roku from a “hold” rating to a “buy” rating and lifted their price target for the stock from $100.00 to $135.00 in a research note on Thursday. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $116.09.

Insider Buying and Selling

In other news, insider Charles Collier sold 118,088 shares of Roku stock in a transaction on Friday, October 31st. The shares were sold at an average price of $115.00, for a total transaction of $13,580,120.00. Following the transaction, the insider owned 200 shares in the company, valued at $23,000. This trade represents a 99.83% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 50,000 shares of the business’s stock in a transaction on Monday, November 10th. The shares were sold at an average price of $103.86, for a total transaction of $5,193,000.00. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 493,918 shares of company stock worth $52,340,981. 13.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently bought and sold shares of ROKU. AQR Capital Management LLC increased its holdings in Roku by 275.5% in the 3rd quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock worth $258,897,000 after acquiring an additional 1,897,407 shares in the last quarter. Tableaux LLC purchased a new position in Roku during the second quarter valued at approximately $1,746,000. Acadian Asset Management LLC boosted its position in shares of Roku by 456.7% in the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company’s stock worth $134,222,000 after purchasing an additional 1,563,449 shares during the period. Holocene Advisors LP increased its stake in shares of Roku by 352.3% in the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after purchasing an additional 1,285,585 shares in the last quarter. Finally, Duquesne Family Office LLC raised its position in shares of Roku by 123.0% during the 2nd quarter. Duquesne Family Office LLC now owns 1,100,500 shares of the company’s stock valued at $96,723,000 after purchasing an additional 606,900 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

Roku Trading Up 1.5%

The business’s 50 day moving average is $99.26 and its two-hundred day moving average is $93.08. The company has a market cap of $16.11 billion, a PE ratio of -545.12 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 (EPS) for the quarter, topping analysts’ consensus estimates of $0.07 by $0.09. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. During the same quarter in the prior year, the business posted ($0.06) EPS. Roku’s revenue for the quarter was up 14.0% compared to the same quarter last year. As a group, equities research 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.