Roku (NASDAQ:ROKU) Trading Up 6.1% on Analyst Upgrade

Roku Inc (NASDAQ:ROKU)’s share price shot up 6.1% during mid-day trading on Thursday after Citigroup raised their price target on the stock from $180.00 to $220.00. Citigroup currently has a buy rating on the stock. Roku traded as high as $200.47 and last traded at $200.34. 9,685,302 shares changed hands during trading, a decline of 15% from the average session volume of 11,421,518 shares. The stock had previously closed at $188.80.

ROKU has been the topic of several other research reports. Pivotal Research boosted their price target on shares of Roku from $60.00 to $65.00 in a research report on Thursday, August 6th. DA Davidson raised their target price on Roku from $150.00 to $190.00 in a research note on Monday, August 10th. ValuEngine raised Roku from a “hold” rating to a “buy” rating in a research report on Wednesday, August 12th. Oppenheimer boosted their target price on shares of Roku from $140.00 to $185.00 and gave the company an “outperform” rating in a report on Thursday, August 6th. They noted that the move was a valuation call. Finally, Benchmark increased their price target on shares of Roku from $180.00 to $185.00 and gave the stock a “buy” rating in a research note on Thursday, August 6th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and seventeen have issued a buy rating to the stock. The stock currently has a consensus rating of “Buy” and a consensus target price of $164.71.

In other news, Director Mai Fyfield sold 306 shares of the company’s stock in a transaction dated Thursday, September 24th. The shares were sold at an average price of $183.57, for a total transaction of $56,172.42. Following the completion of the sale, the director now owns 306 shares of the company’s stock, valued at approximately $56,172.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Steve Louden sold 75,000 shares of the stock in a transaction that occurred on Wednesday, September 9th. The stock was sold at an average price of $162.51, for a total transaction of $12,188,250.00. Following the completion of the transaction, the chief financial officer now owns 75,000 shares in the company, valued at approximately $12,188,250. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 394,997 shares of company stock worth $64,748,429. Company insiders own 19.40% of the company’s stock.

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Global Wealth Management Investment Advisory Inc. grew its position in shares of Roku by 225.0% during the 2nd quarter. Global Wealth Management Investment Advisory Inc. now owns 260 shares of the company’s stock valued at $30,000 after acquiring an additional 180 shares during the period. Pacitti Group Inc. purchased a new position in Roku during the second quarter valued at $36,000. Sandy Spring Bank grew its holdings in Roku by 70.0% during the second quarter. Sandy Spring Bank now owns 340 shares of the company’s stock valued at $39,000 after purchasing an additional 140 shares during the period. CENTRAL TRUST Co increased its position in Roku by 33.9% in the second quarter. CENTRAL TRUST Co now owns 395 shares of the company’s stock worth $46,000 after buying an additional 100 shares in the last quarter. Finally, Kessler Investment Group LLC purchased a new stake in Roku in the second quarter worth about $47,000. Institutional investors and hedge funds own 62.26% of the company’s stock.

The stock has a 50-day moving average price of $163.11 and a two-hundred day moving average price of $129.33. The stock has a market capitalization of $24.98 billion, a PE ratio of -174.13 and a beta of 1.85. The company has a debt-to-equity ratio of 0.09, a quick ratio of 2.98 and a current ratio of 3.09.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, August 5th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.55) by $0.20. The company had revenue of $356.07 million during the quarter, compared to analyst estimates of $302.17 million. Roku had a negative net margin of 10.28% and a negative return on equity of 19.43%. As a group, equities analysts predict that Roku Inc will post -1.49 earnings per share for the current year.

About Roku (NASDAQ:ROKU)

Roku, Inc operates a TV streaming platform. The company operates in two segments, Platform and Player. Its platform allows users to discover and access various movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2018, the company had 27.1 million active accounts.

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