Roku (NASDAQ:ROKU) Trading 2.7% Higher on Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price shot up 2.7% on Thursday after Bank of America raised their price target on the stock from $100.00 to $110.00. Bank of America currently has a buy rating on the stock. Roku traded as high as $88.70 and last traded at $88.71. 705,434 shares traded hands during trading, a decline of 82% from the average session volume of 3,839,495 shares. The stock had previously closed at $86.40.

Several other research analysts also recently weighed in on ROKU. Wedbush reaffirmed an "outperform" rating and set a $100.00 target price on shares of Roku in a research note on Monday, June 16th. Needham & Company LLC restated a "buy" rating and set a $88.50 price objective on shares of Roku in a research report on Tuesday, June 17th. Redburn Atlantic raised shares of Roku from a "neutral" rating to a "buy" rating and set a $100.00 price objective on the stock in a report on Monday, April 7th. Evercore ISI dropped their target price on shares of Roku from $105.00 to $80.00 and set an "in-line" rating on the stock in a research report on Friday, May 2nd. Finally, Wells Fargo & Company cut their target price on shares of Roku from $129.00 to $93.00 and set an "overweight" rating for the company in a research note on Monday, April 28th. One research analyst has rated the stock with a sell rating, seven have given a hold rating, sixteen have given a buy rating and two have given a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $90.37.

Insider Activity

In other Roku news, insider Charles Collier sold 3,590 shares of the firm's stock in a transaction on Tuesday, June 17th. The stock was sold at an average price of $85.00, for a total transaction of $305,150.00. Following the completion of the sale, the insider owned 7,380 shares of the company's stock, valued at $627,300. This trade represents a 32.73% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the business's stock in a transaction that occurred on Tuesday, June 10th. The shares were sold at an average price of $80.27, for a total transaction of $2,006,750.00. Following the completion of the sale, the chief executive officer directly owned 11,953 shares in the company, valued at $959,467.31. This trade represents a 67.65% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 64,020 shares of company stock valued at $4,979,594 in the last quarter. Insiders own 13.98% of the company's stock.

Institutional Trading of Roku

Hedge funds have recently made changes to their positions in the business. Farther Finance Advisors LLC lifted its holdings in Roku by 23.9% during the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company's stock worth $47,000 after buying an additional 121 shares in the last quarter. United Advisor Group LLC increased its position in shares of Roku by 0.9% during the fourth quarter. United Advisor Group LLC now owns 14,430 shares of the company's stock worth $1,073,000 after acquiring an additional 130 shares during the period. Cerity Partners LLC increased its position in shares of Roku by 0.5% during the fourth quarter. Cerity Partners LLC now owns 26,679 shares of the company's stock worth $1,984,000 after acquiring an additional 145 shares during the period. Nissay Asset Management Corp Japan ADV raised its stake in shares of Roku by 1.0% in the first quarter. Nissay Asset Management Corp Japan ADV now owns 15,575 shares of the company's stock valued at $1,097,000 after acquiring an additional 160 shares in the last quarter. Finally, Smith Group Asset Management LLC boosted its holdings in Roku by 2.8% in the first quarter. Smith Group Asset Management LLC now owns 7,390 shares of the company's stock valued at $521,000 after purchasing an additional 200 shares during the period. Institutional investors and hedge funds own 86.30% of the company's stock.

Roku Stock Up 2.0%

The stock has a market capitalization of $12.86 billion, a PE ratio of -120.72 and a beta of 2.12. The stock has a fifty day moving average of $74.15 and a 200-day moving average of $75.29.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings data 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 4.29% and a negative net margin of 2.49%. The business had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1.01 billion. During the same period in the previous year, the company posted ($0.35) earnings per share. The business's revenue for the quarter was up 15.8% on a year-over-year basis. Equities research analysts expect that Roku, Inc. will post -0.3 EPS 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.