Roku’s (ROKU) Outperform Rating Reaffirmed at Wedbush

Wedbush restated their outperform rating on shares of Roku (NASDAQ:ROKUFree Report) in a report released on Friday, Marketbeat.com reports. The firm currently has a $120.00 target price on the stock.

Other equities research analysts have also issued research reports about the company. Moffett Nathanson lowered Roku from a market perform rating to a sell rating and increased their price target for the stock from $64.00 to $66.00 in a research note on Friday, December 15th. Seaport Res Ptn lowered Roku from a neutral rating to a sell rating in a research note on Monday, December 18th. Susquehanna increased their price target on Roku from $95.00 to $100.00 and gave the stock a positive rating in a research note on Thursday, November 2nd. Cannonball Research upgraded Roku from a neutral rating to a buy rating and set a $116.00 price target for the company in a research note on Monday, November 27th. Finally, Pivotal Research increased their price objective on shares of Roku from $75.00 to $85.00 and gave the company a hold rating in a report on Tuesday, December 19th. Four equities research analysts have rated the stock with a sell rating, twelve have issued a hold rating and ten have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of Hold and a consensus target price of $85.61.

Read Our Latest Stock Report on Roku

Roku Price Performance

NASDAQ:ROKU opened at $98.57 on Friday. The firm has a market capitalization of $14.05 billion, a price-to-earnings ratio of -15.98 and a beta of 1.80. Roku has a one year low of $51.62 and a one year high of $108.84. The business has a fifty day moving average price of $92.58 and a 200-day moving average price of $83.69.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 3,333 shares of the firm’s stock in a transaction dated Thursday, November 16th. The shares were sold at an average price of $89.03, for a total value of $296,736.99. Following the completion of the sale, the chief executive officer now owns 141,221 shares of the company’s stock, valued at $12,572,905.63. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Gidon Katz sold 4,455 shares of the firm’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $90.00, for a total transaction of $400,950.00. Following the transaction, the insider now directly owns 16,149 shares of the company’s stock, valued at $1,453,410. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CEO Anthony J. Wood sold 3,333 shares of the firm’s stock in a transaction that occurred on Thursday, November 16th. The stock was sold at an average price of $89.03, for a total transaction of $296,736.99. Following the transaction, the chief executive officer now directly owns 141,221 shares in the company, valued at $12,572,905.63. The disclosure for this sale can be found here. Insiders sold a total of 125,418 shares of company stock valued at $11,979,970 over the last 90 days. Insiders own 13.63% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors have recently bought and sold shares of ROKU. MetLife Investment Management LLC purchased a new position in Roku during the first quarter valued at approximately $955,000. Synovus Financial Corp increased its holdings in Roku by 45.2% during the first quarter. Synovus Financial Corp now owns 3,501 shares of the company’s stock valued at $448,000 after buying an additional 1,090 shares during the period. Dimensional Fund Advisors LP increased its holdings in Roku by 2.3% during the first quarter. Dimensional Fund Advisors LP now owns 94,224 shares of the company’s stock valued at $11,806,000 after buying an additional 2,130 shares during the period. Cetera Investment Advisers increased its holdings in Roku by 32.5% during the first quarter. Cetera Investment Advisers now owns 10,620 shares of the company’s stock valued at $1,330,000 after buying an additional 2,605 shares during the period. Finally, Brighton Jones LLC increased its holdings in Roku by 8.6% during the first quarter. Brighton Jones LLC now owns 1,874 shares of the company’s stock valued at $235,000 after buying an additional 148 shares during the period. 69.21% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

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Roku, Inc, together with its subsidiaries, operates a TV streaming platform. 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 company also provides digital advertising and related services, including the demand-side ad platform and content distribution services, such as subscription and transaction revenue shares; media and entertainment promotional spending services; premium subscriptions services; video and display advertising services; and sells branded channel buttons on remote controls of streaming device.

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Analyst Recommendations for Roku (NASDAQ:ROKU)

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