Roku (NASDAQ:ROKU) Upgraded to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Roku (NASDAQ:ROKU) from an equal weight rating to an overweight rating in a research report released on Friday morning, Marketbeat.com reports. The firm currently has $129.00 target price on the stock, up from their previous target price of $74.00.

A number of other brokerages have also recently commented on ROKU. UBS Group started coverage on Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 price target on the stock. Piper Sandler upped their price target on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Needham & Company LLC reaffirmed a “buy” rating and set a $100.00 price target on shares of Roku in a research report on Tuesday, January 7th. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Finally, Loop Capital upped their price target on Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $93.18.

Roku Stock Performance

Shares of NASDAQ:ROKU opened at $99.07 on Friday. The business has a fifty day moving average price of $80.56 and a two-hundred day moving average price of $73.65. Roku has a 1 year low of $48.33 and a 1 year high of $104.96.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. As a group, sell-side analysts anticipate that Roku will post -1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the transaction, the chief financial officer now directly owns 65,555 shares in the company, valued at approximately $4,916,625. This represents a 1.50 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Charles Collier sold 10,771 shares of the stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.14, for a total value of $766,248.94. Following the transaction, the insider now owns 3,790 shares in the company, valued at $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,885 shares of company stock worth $7,911,162 in the last ninety days. 13.98% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Roku

Several institutional investors have recently modified their holdings of ROKU. FMR LLC increased its position in shares of Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after purchasing an additional 4,613,570 shares during the last quarter. Marshall Wace LLP increased its position in shares of Roku by 663.9% during the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after purchasing an additional 2,030,036 shares during the last quarter. Holocene Advisors LP bought a new position in shares of Roku during the 3rd quarter valued at about $129,015,000. Westfield Capital Management Co. LP increased its position in shares of 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 purchasing an additional 856,401 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC increased its position in shares of Roku by 214.1% during the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 864,974 shares of the company’s stock valued at $64,302,000 after purchasing an additional 589,610 shares during the last quarter. 86.30% of the stock is currently owned by 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.