Roku (NASDAQ:ROKU) Given “Neutral” Rating at Wedbush

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reaffirmed by stock analysts at Wedbush in a research report issued to clients and investors on Thursday, Benzinga reports. They currently have a $155.00 price objective on the stock. Wedbush’s target price points to a potential upside of 1.24% from the stock’s current price.

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. began coverage on shares of Roku in a research report on Monday, August 24th. They issued a “neutral” rating and a $160.00 price target on the stock. Rosenblatt Securities restated a “buy” rating and issued a $160.00 price target on shares of Roku in a research report on Monday, August 10th. Susquehanna lowered shares of Roku from a “positive” rating to a “neutral” rating and set a $160.00 price target on the stock. in a research report on Tuesday, June 16th. Wolfe Research lowered shares of Roku from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. Finally, Jefferies Financial Group lowered shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Monday, June 15th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $156.17.

Roku Stock Performance

Shares of ROKU traded down $0.39 during mid-day trading on Thursday, reaching $153.10. 255,675 shares of the company’s stock traded hands, compared to its average volume of 3,424,676. The business’s 50-day moving average price is $152.18 and its 200-day moving average price is $130.65. The stock has a market capitalization of $22.72 billion, a P/E ratio of 65.44 and a beta of 2.05. Roku has a 12 month low of $78.53 and a 12 month high of $159.89.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.08 EPS for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. The business had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.30 billion. Roku had a net margin of 6.82% and a return on equity of 13.73%. The business’s revenue for the quarter was up 21.9% on a year-over-year basis. During the same quarter last year, the business earned $0.07 earnings per share. Equities research analysts anticipate that Roku will post 2.85 EPS for the current year.

Insiders Place Their Bets

In related news, CFO Dan Jedda sold 7,000 shares of Roku stock in a transaction on Tuesday, September 15th. The shares were sold at an average price of $156.81, for a total value of $1,097,670.00. Following the completion of the sale, the chief financial officer owned 74,811 shares of the company’s stock, valued at approximately $11,731,112.91. The trade was a 8.56% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 20,538 shares of Roku stock in a transaction on Friday, September 4th. The stock was sold at an average price of $156.99, for a total transaction of $3,224,260.62. Following the completion of the transaction, the insider owned 22,700 shares in the company, valued at $3,563,673. This trade represents a 47.50% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 112,285 shares of company stock worth $16,939,414 in the last 90 days. 13.45% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of ROKU. Jefferies Financial Group Inc. bought a new position in shares of Roku during the 4th quarter worth about $1,345,000. Moran Wealth Management LLC bought a new stake in Roku in the first quarter valued at about $2,990,000. Bank of New York Mellon Corp bought a new stake in Roku in the second quarter valued at about $105,216,000. Contravisory Investment Management Inc. bought a new stake in Roku in the second quarter valued at about $1,184,000. Finally, California Public Employees Retirement System boosted its position in Roku by 14.8% in the first quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock valued at $24,674,000 after buying an additional 33,593 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) operates a television streaming platform that connects consumers with digital entertainment. Its Roku operating system powers streaming players, Roku-branded televisions and smart-TV products made by licensing partners. The platform provides access to streaming services, live television, movies, music and other applications.

The company also operates The Roku Channel, its own ad-supported streaming service offering licensed and original content, including movies, television programs, live channels and premium subscription options.