Roku, Inc. (NASDAQ:ROKU) Short Interest Update

Roku, Inc. (NASDAQ:ROKU) was the recipient of a significant drop in short interest in the month of November. As of November 30th, there was short interest totalling 10,250,000 shares, a drop of 18.1% from the November 15th total of 12,520,000 shares. Based on an average daily volume of 3,950,000 shares, the short-interest ratio is presently 2.6 days.

Analyst Ratings Changes

A number of brokerages have commented on ROKU. JPMorgan Chase & Co. increased their target price on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Needham & Company LLC reissued a “buy” rating and issued a $100.00 price objective on shares of Roku in a research report on Wednesday, December 4th. Macquarie reaffirmed an “outperform” rating and set a $90.00 price target on shares of Roku in a research report on Thursday, October 31st. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Morgan Stanley boosted their price objective on Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research note on Tuesday, October 29th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $83.81.

Roku Trading Up 1.3 %

Roku stock traded up $1.09 during mid-day trading on Friday, reaching $82.99. The company’s stock had a trading volume of 2,019,540 shares, compared to its average volume of 4,404,422. The firm has a market cap of $12.05 billion, a price-to-earnings ratio of -69.16 and a beta of 2.06. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The business has a 50 day moving average price of $75.00 and a 200-day moving average price of $66.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $1.02 billion. During the same period in the prior year, the business earned ($2.33) EPS. The firm’s revenue was up 16.5% on a year-over-year basis. On average, equities analysts expect that Roku will post -1.1 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the completion of the sale, the chief financial officer now owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. This trade represents a 1.81 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Tuesday, December 10th. The stock was sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the transaction, the chief executive officer now owns 26,538 shares in the company, valued at $2,193,100.32. The trade was a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 73,096 shares of company stock worth $5,653,823 over the last 90 days. Company insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. Holocene Advisors LP bought a new stake in shares of Roku during the third quarter valued at approximately $129,015,000. Westfield Capital Management Co. LP raised its stake in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after acquiring an additional 856,401 shares in the last quarter. Point72 Asset Management L.P. boosted its position in Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after acquiring an additional 507,643 shares during the period. JAT Capital Mgmt LP boosted its position in Roku by 470.2% during the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after acquiring an additional 445,777 shares during the period. Finally, FMR LLC increased its holdings in shares of Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

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.