Roku (NASDAQ:ROKU) Trading Up 1.9% – Here’s What Happened

Roku, Inc. (NASDAQ:ROKU)’s stock price rose 1.9% during mid-day trading on Tuesday . The company traded as high as $113.40 and last traded at $111.09. Approximately 5,113,041 shares changed hands during trading, an increase of 37% from the average daily volume of 3,743,052 shares. The stock had previously closed at $109.03.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on ROKU. Needham & Company LLC reissued a “buy” rating and issued a $110.00 target price on shares of Roku in a report on Wednesday, October 1st. Guggenheim upped their price target on shares of Roku from $110.00 to $115.00 and gave the stock a “buy” rating in a research report on Thursday, December 4th. Weiss Ratings reissued a “sell (d-)” rating on shares of Roku in a research note on Wednesday, October 8th. Wall Street Zen upgraded shares of Roku from a “hold” rating to a “buy” rating in a research report on Sunday, December 7th. Finally, Piper Sandler raised shares of Roku from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $88.00 to $135.00 in a report on Monday, November 3rd. One research analyst has rated the stock with a Strong Buy rating, twenty have assigned a Buy rating, five have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $116.91.

Roku Stock Performance

The firm has a market cap of $16.41 billion, a P/E ratio of -555.42 and a beta of 1.98. The firm’s fifty day simple moving average is $99.26 and its 200 day simple moving average is $93.08.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, October 30th. The company reported $0.16 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 company had revenue of $1.21 billion for the quarter, compared to the consensus estimate of $1.21 billion. During the same period in the previous year, the business earned ($0.06) earnings per share. The firm’s revenue for the quarter was up 14.0% on a year-over-year basis. On average, equities research analysts predict that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Charles Collier sold 118,088 shares of the company’s 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 sale, the insider owned 200 shares of the company’s stock, valued at $23,000. This represents a 99.83% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Anthony J. Wood sold 50,000 shares of Roku stock in a transaction on Monday, November 10th. The stock was 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. Insiders have sold a total of 493,918 shares of company stock valued at $52,340,981 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Westfuller Advisors LLC purchased a new position in Roku in the third quarter worth about $30,000. Root Financial Partners LLC bought a new stake in shares of Roku in the 3rd quarter valued at approximately $33,000. Cornerstone Planning Group LLC boosted its holdings in shares of Roku by 20,450.0% in the 3rd quarter. Cornerstone Planning Group LLC now owns 411 shares of the company’s stock worth $41,000 after purchasing an additional 409 shares during the period. Beaird Harris Wealth Management LLC bought a new position in shares of Roku during the 1st quarter valued at approximately $30,000. Finally, Banque Transatlantique SA bought a new position in shares of Roku during the 1st quarter valued at approximately $28,000. 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.