Roku (NASDAQ:ROKU) Shares Up 2.1% on Analyst Upgrade

Shares of Roku, Inc. (NASDAQ:ROKU - Get Free Report) were up 2.1% on Wednesday after JPMorgan Chase & Co. raised their price target on the stock from $75.00 to $85.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $74.50 and last traded at $74.53. Approximately 960,546 shares were traded during trading, a decline of 75% from the average daily volume of 3,796,450 shares. The stock had previously closed at $72.97.

ROKU has been the topic of several other reports. JMP Securities reaffirmed a "market outperform" rating and set a $95.00 target price on shares of Roku in a report on Monday. Wells Fargo & Company dropped their price objective on Roku from $129.00 to $93.00 and set an "overweight" rating on the stock in a research note on Monday, April 28th. Rosenblatt Securities dropped their price objective on Roku from $100.00 to $75.00 and set a "neutral" rating on the stock in a research note on Friday, May 2nd. UBS Group dropped their price objective on Roku from $90.00 to $72.00 and set a "neutral" rating on the stock in a research note on Tuesday, April 15th. Finally, Citigroup dropped their price objective on Roku from $81.00 to $68.00 and set a "neutral" rating on the stock in a research note on Tuesday, May 6th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, Roku currently has an average rating of "Moderate Buy" and a consensus target price of $88.37.

Insiders Place Their Bets

In related news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the sale, the chief financial officer now directly owns 68,843 shares of the company's stock, valued at approximately $5,163,225. This trade represents a 1.43% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Matthew C. Banks sold 629 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $72.98, for a total value of $45,904.42. Following the sale, the chief accounting officer now directly owns 8,555 shares of the company's stock, valued at $624,343.90. The trade was a 6.85% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 31,642 shares of company stock valued at $2,370,040. Corporate insiders own 13.98% of the company's stock.

Institutional Trading of Roku

A number of large investors have recently bought and sold shares of ROKU. Garde Capital Inc. purchased a new stake in Roku in the first quarter worth $25,000. Banque Transatlantique SA purchased a new position in Roku in the first quarter worth $28,000. Vision Financial Markets LLC bought a new stake in Roku during the fourth quarter worth about $30,000. Beaird Harris Wealth Management LLC bought a new stake in Roku during the first quarter worth about $30,000. Finally, Golden State Wealth Management LLC boosted its holdings in Roku by 125.4% during the 1st quarter. Golden State Wealth Management LLC now owns 444 shares of the company's stock valued at $31,000 after acquiring an additional 247 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Stock Up 1.2%

The stock has a market cap of $10.89 billion, a P/E ratio of -83.82 and a beta of 2.06. The firm's fifty day moving average price is $65.45 and its 200-day moving average price is $74.41.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The company reported ($0.19) EPS for the quarter, topping analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The company had revenue of $1.02 billion during the quarter, compared to analyst estimates of $1.01 billion. During the same quarter last year, the firm posted ($0.35) earnings per share. The firm's revenue was up 15.8% on a year-over-year basis. Sell-side analysts predict that Roku, Inc. will post -0.3 earnings per share for the current 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.