Roku (NASDAQ:ROKU) Shares Up 5.2% – Here’s Why

Roku, Inc. (NASDAQ:ROKU)’s stock price shot up 5.2% on Monday . The stock traded as high as $91.61 and last traded at $89.39. 2,398,192 shares changed hands during trading, a decline of 13% from the average session volume of 2,741,087 shares. The stock had previously closed at $85.00.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on ROKU shares. Wedbush restated an “outperform” rating and set a $100.00 price objective on shares of Roku in a research report on Monday. UBS Group initiated coverage on shares of Roku in a report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target for the company. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Wells Fargo & Company boosted their price target on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Finally, JMP Securities reiterated a “market outperform” rating and set a $95.00 price objective on shares of Roku in a report on Monday, February 3rd. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $83.18.

Roku Price Performance

The business has a 50 day moving average price of $79.99 and a 200 day moving average price of $73.03. The firm has a market capitalization of $12.31 billion, a P/E ratio of -70.65 and a beta of 2.05.

Insiders Place Their Bets

In other news, insider Charles Collier sold 10,771 shares of the business’s stock in a transaction on Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the sale, the insider now owns 3,790 shares in the company, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Matthew C. Banks sold 8,693 shares of the company’s stock in a transaction dated Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. The trade was a 54.48 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 72,885 shares of company stock worth $5,712,912 in the last ninety days. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in the company. ExodusPoint Capital Management LP acquired a new stake in shares of Roku during the fourth quarter worth approximately $7,485,000. Arete Wealth Advisors LLC bought a new stake in Roku during the 4th quarter worth approximately $206,000. Headlands Technologies LLC acquired a new stake in Roku during the 4th quarter valued at $1,443,000. Geode Capital Management LLC raised its position in Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock valued at $159,353,000 after purchasing an additional 56,820 shares during the last quarter. Finally, StoneX Group Inc. bought a new position in Roku in the 4th quarter valued at $766,000. 86.30% of the stock is owned by institutional investors.

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.