Brokerages Set Roku, Inc. (NASDAQ:ROKU) PT at $153.71

Roku, Inc. (NASDAQ:ROKU) has received an average rating of “Hold” from the twenty-seven brokerages that are covering the company, MarketBeat.com reports. Sixteen research analysts have rated the stock with a hold recommendation and eleven have issued a buy recommendation on the company. The average 12-month target price among brokers that have issued a report on the stock in the last year is $153.7083.

ROKU has been the subject of several recent research reports. Citizens Jmp cut Roku from a “market outperform” rating to a “hold” rating in a report on Tuesday, June 16th. Jefferies Financial Group downgraded shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 target price for the company. in a report on Monday, June 15th. Guggenheim increased their price target on shares of Roku from $140.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, June 9th. Rosenblatt Securities increased their price target on Roku from $150.00 to $160.00 and gave the company a “buy” rating in a research report on Tuesday, June 16th. Finally, Pivotal Research reissued a “buy” rating and issued a $160.00 price objective (up from $140.00) on shares of Roku in a research report on Friday, May 1st.

Roku Stock Down 0.7%

Shares of ROKU opened at $141.21 on Friday. Roku has a 52-week low of $78.53 and a 52-week high of $148.88. The stock has a market cap of $20.82 billion, a PE ratio of 106.17 and a beta of 2.01. The firm’s fifty day moving average is $129.29 and its two-hundred day moving average is $110.78.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, topping the consensus estimate of $0.34 by $0.23. The firm had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company’s revenue for the quarter was up 22.4% on a year-over-year basis. During the same period last year, the firm posted ($0.19) earnings per share. As a group, research analysts anticipate that Roku will post 2.41 earnings per share for the current year.

Insider Buying and Selling

In other news, insider Mustafa Ozgen sold 10,194 shares of the company’s stock in a transaction dated Friday, June 12th. The stock was sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the completion of the transaction, the insider directly owned 19,185 shares of the company’s stock, valued at approximately $2,762,640. This represents a 34.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Anthony J. Wood sold 75,000 shares of the stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $128.79, for a total value of $9,659,250.00. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders sold 527,737 shares of company stock worth $63,176,511. Corporate insiders own 13.45% of the company’s stock.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in Roku by 275.5% during the 3rd quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock worth $258,897,000 after buying an additional 1,897,407 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in Roku by 229.5% in the first quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock valued at $192,868,000 after buying an additional 1,419,772 shares during the last quarter. Fred Alger Management LLC boosted its holdings in shares of Roku by 7,087.7% in the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock valued at $154,212,000 after acquiring an additional 1,401,664 shares during the period. Holocene Advisors LP grew its position in shares of Roku by 352.3% during the third quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock worth $165,259,000 after acquiring an additional 1,285,585 shares during the last quarter. Finally, Norges Bank purchased a new position in shares of Roku during the fourth quarter worth approximately $92,808,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

Key Stories Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Roku added six free channels, including popular reality-TV content such as Love Island, which could help boost engagement on its platform and support ad-supported viewing growth. Roku Adds Six Free Channels, Including Love Island and More
• Positive Sentiment: Reports also highlighted Roku’s improving home screen experience and a cheaper streaming setup, suggesting the company is making its platform more attractive to users and expanding its reach in free, ad-supported TV. Roku is finally changing its home screen for the better
• Positive Sentiment: Media coverage noted that Roku’s viewing and ad revenue continue to grow, reinforcing the market’s view that the company is benefiting from stronger platform monetization. Comcast Gives Up Old-School TV Media Model: Fox-Roku Steps In
• Neutral Sentiment: Roku insider Charles Collier sold 20,538 shares at $142.51 in a pre-arranged Rule 10b5-1 plan, a disclosure that can create some near-term caution even though the sale was scheduled in advance. Roku (NASDAQ:ROKU) Insider Sells 20,538 Shares
• Negative Sentiment: The insider sale may still pressure sentiment because it follows multiple prior sales by the same executive, which some investors may read as reduced confidence at current share levels. Roku insider trading history

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.