Roku (NASDAQ:ROKU) Trading 2.1% Higher – What’s Next?

Roku, Inc. (NASDAQ:ROKU) shot up 2.1% on Friday . The company traded as high as $115.00 and last traded at $111.17. 4,259,077 shares traded hands during mid-day trading, an increase of 37% from the average session volume of 3,097,922 shares. The stock had previously closed at $108.86.

Analyst Ratings Changes

A number of brokerages have recently issued reports on ROKU. Wells Fargo & Company restated an “overweight” rating on shares of Roku in a research report on Monday. Pivotal Research lifted their target price on shares of Roku from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Monday, November 3rd. Arete raised shares of Roku from a “neutral” rating to a “buy” rating and set a $132.00 price target on the stock in a research report on Monday. Evercore ISI reiterated a “positive” rating on shares of Roku in a report on Friday, October 31st. Finally, JPMorgan Chase & Co. lifted their price objective on Roku from $115.00 to $125.00 and gave the stock an “overweight” rating in a research report on Friday, December 12th. Twenty-three analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $118.12.

Roku Stock Performance

The stock has a market cap of $16.43 billion, a PE ratio of -555.82 and a beta of 1.95. The business has a 50 day moving average price of $104.04 and a two-hundred day moving average price of $96.96.

Roku (NASDAQ:ROKU) last released its earnings results on Thursday, October 30th. The company reported $0.16 earnings per share for the quarter, beating analysts’ consensus estimates of $0.07 by $0.09. Roku had a negative net margin of 0.61% and a negative return on equity of 1.08%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.21 billion. During the same period in the previous year, the company earned ($0.06) earnings per share. The company’s quarterly revenue was up 14.0% on a year-over-year basis. As a group, research analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In other news, insider Gilbert Fuchsberg sold 3,250 shares of the company’s stock in a transaction on Friday, December 12th. The stock was sold at an average price of $108.78, for a total transaction of $353,535.00. Following the transaction, the insider owned 59,094 shares of the company’s stock, valued at $6,428,245.32. This represents a 5.21% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Dan Jedda sold 3,000 shares of Roku stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $99.09, for a total value of $297,270.00. Following the completion of the sale, the chief financial officer directly owned 77,420 shares of the company’s stock, valued at approximately $7,671,547.80. This trade represents a 3.73% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 318,282 shares of company stock valued at $34,335,889 in the last three months. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the business. AQR Capital Management LLC boosted its stake in shares of Roku by 275.5% in the 3rd quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock valued at $258,897,000 after purchasing an additional 1,897,407 shares in the last quarter. Tableaux LLC bought a new stake in Roku in the second quarter worth $1,746,000. Holocene Advisors LP boosted its position in Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after buying an additional 1,285,585 shares during the period. Acadian Asset Management LLC grew its stake in shares of Roku by 41.2% during the second quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock valued at $236,545,000 after buying an additional 785,864 shares during the last quarter. Finally, Duquesne Family Office LLC grew its stake in shares of Roku by 123.0% during the second quarter. Duquesne Family Office LLC now owns 1,100,500 shares of the company’s stock valued at $96,723,000 after buying an additional 606,900 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.