Roku (NASDAQ:ROKU) Shares Gap Up – Here’s What Happened

by · The Cerbat Gem

Roku, Inc. (NASDAQ:ROKU – Get Free Report) shares gapped up prior to trading on Thursday . The stock had previously closed at $105.36, but opened at $109.45. Roku shares last traded at $109.1410, with a volume of 1,933,825 shares traded.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on ROKU shares. Piper Sandler upgraded shares of Roku from a “neutral” rating to an “overweight” rating and raised their price objective for the company from $88.00 to $135.00 in a research note on Monday, November 3rd. JPMorgan Chase & Co. increased their price objective on Roku from $115.00 to $125.00 and gave the company an “overweight” rating in a research report on Friday. Zacks Research raised Roku from a “hold” rating to a “strong-buy” rating in a research report on Friday, October 31st. Raymond James Financial reaffirmed a “market perform” rating on shares of Roku in a research report on Friday, October 31st. Finally, Susquehanna reissued a “positive” rating and set a $130.00 price target on shares of Roku in a report on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, five have issued a Hold rating and two have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $116.09.

Check Out Our Latest Stock Analysis on ROKU

Roku Stock Up 1.1%

The stock has a market cap of $15.88 billion, a PE ratio of -537.32 and a beta of 1.98. The firm’s fifty day moving average price is $99.18 and its 200 day moving average price is $92.55.

Roku (NASDAQ:ROKU – Get Free Report) last issued its quarterly earnings data 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. The firm had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.21 billion. Roku had a negative return on equity of 1.08% and a negative net margin of 0.61%.The business’s quarterly revenue was up 14.0% compared to the same quarter last year. During the same quarter last year, the business posted ($0.06) earnings per share. As a group, analysts anticipate that Roku, Inc. will post -0.3 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 50,000 shares of the stock in a transaction dated Monday, November 10th. The shares were sold at an average price of $103.86, for a total transaction of $5,193,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Charles Collier sold 118,088 shares of Roku stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $115.00, for a total transaction of $13,580,120.00. Following the completion of the transaction, the insider directly owned 200 shares in the company, valued at approximately $23,000. The trade was a 99.83% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 490,668 shares of company stock worth $51,948,686 in the last three months. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in ROKU. Berkshire Capital Holdings Inc. increased its position in shares of Roku by 1,413,400.0% during the first quarter. Berkshire Capital Holdings Inc. now owns 141,350 shares of the company’s stock valued at $9,957,000 after acquiring an additional 141,340 shares during the last quarter. Atika Capital Management LLC purchased a new stake in shares of Roku in the 1st quarter valued at $5,086,000. West Tower Group LLC lifted its stake in Roku by 128.6% during the 2nd quarter. West Tower Group LLC now owns 8,000 shares of the company’s stock worth $703,000 after acquiring an additional 4,500 shares in the last quarter. Woodline Partners LP grew its position in Roku by 1,056.3% in the 1st quarter. Woodline Partners LP now owns 306,429 shares of the company’s stock valued at $21,585,000 after acquiring an additional 279,929 shares in the last quarter. Finally, Diversified Trust Co boosted its stake in shares of Roku by 73.6% in the second quarter. Diversified Trust Co now owns 20,548 shares of the company’s stock valued at $1,806,000 after purchasing an additional 8,710 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Roku Company Profile

(Get Free Report)

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.

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