Roku (NASDAQ:ROKU) PT Raised to $85.00

Roku (NASDAQ:ROKU) had its price objective hoisted by Wedbush from $75.00 to $85.00 in a research report released on Friday, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Other equities research analysts have also recently issued reports about the company. Benchmark restated a “buy” rating and issued a $105.00 price objective on shares of Roku in a research note on Thursday, September 12th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target on the stock in a research report on Thursday, September 12th. Guggenheim raised shares of Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, August 23rd. Needham & Company LLC reissued a “buy” rating and set a $100.00 target price on shares of Roku in a report on Tuesday, October 22nd. Finally, JPMorgan Chase & Co. raised their price target on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a report on Thursday, October 10th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Roku has an average rating of “Hold” and a consensus price target of $82.30.

Roku Stock Up 1.7 %

ROKU opened at $75.27 on Friday. Roku has a twelve month low of $48.33 and a twelve month high of $108.84. The company’s 50-day moving average price is $72.38 and its two-hundred day moving average price is $63.34. The stock has a market cap of $10.85 billion, a price-to-earnings ratio of -18.86 and a beta of 2.08.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. The business had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same quarter in the prior year, the business earned ($0.76) earnings per share. Roku’s revenue for the quarter was up 14.3% on a year-over-year basis. As a group, sell-side analysts anticipate that Roku will post -1.44 earnings per share for the current year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 69,566 shares of company stock valued at $5,254,000. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. Sumitomo Mitsui Trust Holdings Inc. increased its stake in Roku by 24.7% in the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock worth $478,939,000 after purchasing an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after buying an additional 1,455,408 shares during the last quarter. Canada Pension Plan Investment Board boosted its position in Roku by 138.1% during the 1st quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after buying an additional 198,600 shares during the period. AQR Capital Management LLC grew its holdings in Roku by 645.3% in the 2nd quarter. AQR Capital Management LLC now owns 221,557 shares of the company’s stock worth $13,278,000 after acquiring an additional 191,831 shares during the last quarter. Finally, ARK Investment Management LLC increased its position in shares of Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after acquiring an additional 159,785 shares during the period. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.