Roku (NASDAQ:ROKU) Trading 1.3% Higher on Analyst Upgrade

Roku, Inc. (NASDAQ:ROKU - Get Free Report)'s stock price was up 1.3% during mid-day trading on Friday after JPMorgan Chase & Co. raised their price target on the stock from $85.00 to $100.00. JPMorgan Chase & Co. currently has an overweight rating on the stock. Roku traded as high as $92.46 and last traded at $92.30. Approximately 748,646 shares changed hands during mid-day trading, a decline of 81% from the average daily volume of 3,909,488 shares. The stock had previously closed at $91.10.

Several other analysts also recently issued reports on the stock. Wedbush reaffirmed an "outperform" rating and issued a $100.00 price objective on shares of Roku in a research report on Monday, June 16th. Piper Sandler increased their price objective on shares of Roku from $65.00 to $84.00 and gave the company a "neutral" rating in a research report on Thursday, July 10th. Rosenblatt Securities lowered their price objective on shares of Roku from $100.00 to $75.00 and set a "neutral" rating for the company in a research report on Friday, May 2nd. UBS Group lowered their price objective on shares of Roku from $90.00 to $72.00 and set a "neutral" rating for the company in a research report on Tuesday, April 15th. Finally, Guggenheim reaffirmed a "buy" rating and issued a $100.00 price objective on shares of Roku in a research report on Friday, May 2nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, seventeen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $93.29.

Insider Buying and Selling at Roku

In other Roku news, CFO Dan Jedda sold 3,000 shares of Roku stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $90.20, for a total value of $270,600.00. Following the completion of the transaction, the chief financial officer owned 76,132 shares of the company's stock, valued at $6,867,106.40. The trade was a 3.79% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Director Mai Fyfield sold 914 shares of Roku stock in a transaction on Friday, June 6th. The stock was sold at an average price of $78.50, for a total transaction of $71,749.00. Following the completion of the transaction, the director directly owned 4,374 shares of the company's stock, valued at approximately $343,359. This represents a 17.28% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 96,520 shares of company stock worth $7,898,294. Company insiders own 13.98% of the company's stock.

Institutional Investors Weigh In On Roku

A number of hedge funds have recently added to or reduced their stakes in ROKU. FMR LLC lifted its stake in Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after buying an additional 4,613,570 shares during the last quarter. Marshall Wace LLP lifted its stake in Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock valued at $173,644,000 after buying an additional 2,030,036 shares during the last quarter. Acadian Asset Management LLC lifted its stake in Roku by 456.7% in the first quarter. Acadian Asset Management LLC now owns 1,905,779 shares of the company's stock valued at $134,222,000 after buying an additional 1,563,449 shares during the last quarter. Cadian Capital Management LP bought a new stake in Roku in the fourth quarter valued at $87,632,000. Finally, Jacobs Levy Equity Management Inc. lifted its stake in Roku by 505.3% in the fourth quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after buying an additional 1,082,548 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Stock Up 2.4%

The company has a market capitalization of $13.61 billion, a P/E ratio of -127.79 and a beta of 2.12. The business has a 50 day simple moving average of $79.82 and a 200-day simple moving average of $76.13.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Thursday, May 1st. The company reported ($0.19) earnings per share for the quarter, beating analysts' consensus estimates of ($0.27) by $0.08. Roku had a negative net margin of 2.49% and a negative return on equity of 4.29%. The business had revenue of $1.02 billion for the quarter, compared to analysts' expectations of $1.01 billion. During the same period in the previous year, the business earned ($0.35) earnings per share. The company's revenue was up 15.8% on a year-over-year basis. Equities analysts forecast 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.