Roku (NASDAQ:ROKU) Upgraded at Citizens Jmp

Roku (NASDAQ:ROKU) was upgraded by equities research analysts at Citizens Jmp to a “strong-buy” rating in a research note issued to investors on Tuesday,Zacks.com reports.

Several other research firms have also commented on ROKU. Loop Capital increased their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Macquarie reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Wells Fargo & Company lifted their price target on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a research report on Thursday, October 31st. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Finally, Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Three analysts have rated the stock with a sell rating, eight have assigned a hold rating, twelve have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $83.18.

Roku Trading Down 0.2 %

Shares of ROKU stock opened at $79.60 on Tuesday. The stock has a market capitalization of $11.56 billion, a price-to-earnings ratio of -66.33 and a beta of 2.05. Roku has a 12-month low of $48.33 and a 12-month high of $99.80. The stock’s 50-day moving average price is $76.87 and its 200-day moving average price is $71.06.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.29. The business had revenue of $1.06 billion for the quarter, compared to the consensus estimate of $1.02 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The company’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.33) EPS. As a group, research analysts predict that Roku will post -1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Matthew C. Banks sold 8,693 shares of the stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the transaction, the chief accounting officer now directly owns 7,264 shares in the company, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Charles Collier sold 10,771 shares of Roku stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.14, for a total transaction of $766,248.94. Following the transaction, the insider now directly owns 3,790 shares in the company, valued at approximately $269,620.60. The trade was a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 73,095 shares of company stock worth $5,726,218 in the last ninety days. 13.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Robeco Institutional Asset Management B.V. boosted its position in Roku by 56.0% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 130,985 shares of the company’s stock valued at $9,737,000 after purchasing an additional 47,006 shares in the last quarter. SteelPeak Wealth LLC bought a new stake in shares of Roku in the 4th quarter valued at about $258,000. PFG Investments LLC grew its position in shares of Roku by 4.9% in the 4th quarter. PFG Investments LLC now owns 4,361 shares of the company’s stock worth $324,000 after buying an additional 204 shares during the last quarter. Jacksonville Wealth Management LLC bought a new position in shares of Roku during the 4th quarter worth approximately $346,000. Finally, Geneos Wealth Management Inc. lifted its position in Roku by 369.9% during the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after acquiring an additional 270 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other 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.