Wedbush Drops Coverage on Roku (NASDAQ:ROKU)

Analysts at Wedbush dropped coverage on shares of Roku (NASDAQ:ROKU) in a research report issued on Tuesday, Benzinga reports. The brokerage had previously set a “neutral” rating on the stock.

Several other research analysts have also issued reports on the company. Weiss Ratings raised Roku from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, November 3rd. BMO Capital Markets upgraded Roku from a “market perform” rating to an “outperform” rating in a research report on Tuesday, November 3rd. Zacks Research raised Roku from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, August 11th. Citigroup raised their price objective on Roku from $120.00 to $157.00 and gave the stock a “neutral” rating in a research report on Friday, July 17th. Finally, JPMorgan Chase & Co. initiated coverage on Roku in a research note on Monday, August 24th. They issued a “neutral” rating and a $160.00 price objective on the stock. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating and seventeen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $156.22.

Roku Stock Down 0.5%

NASDAQ ROKU traded down $0.87 on Tuesday, hitting $159.65. The company’s stock had a trading volume of 11,519,211 shares, compared to its average volume of 2,596,181. Roku has a 1-year low of $78.53 and a 1-year high of $163.57. The company’s 50-day moving average is $155.37 and its 200 day moving average is $129.19. The firm has a market cap of $23.69 billion, a PE ratio of 47.23 and a beta of 2.12.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Monday, November 2nd. The company reported $1.20 EPS for the quarter, topping analysts’ consensus estimates of $0.55 by $0.65. Roku had a net margin of 9.34% and a return on equity of 18.65%. The company had revenue of $1.50 billion for the quarter, compared to analyst estimates of $1.41 billion. During the same quarter in the previous year, the business earned $0.16 earnings per share. Roku’s revenue was up 24.1% compared to the same quarter last year. On average, equities analysts expect that Roku will post 3.17 EPS for the current year.

Insider Buying and Selling at Roku

In other Roku news, insider Charles Collier sold 20,538 shares of the company’s stock in a transaction on Friday, September 4th. The shares were sold at an average price of $156.99, for a total transaction of $3,224,260.62. Following the sale, the insider owned 22,700 shares of the company’s stock, valued at approximately $3,563,673. This represents a 47.50% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher T. Handman sold 2,999 shares of the stock in a transaction dated Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $466,764.36. Following the sale, the senior vice president owned 8,997 shares of the company’s stock, valued at approximately $1,400,293.08. The trade was a 25.00% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 88,028 shares of company stock valued at $13,645,922 over the last three months. 13.45% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently made changes to their positions in ROKU. 55 North Private Wealth LLC lifted its position in shares of Roku by 4.8% during the third quarter. 55 North Private Wealth LLC now owns 1,592 shares of the company’s stock worth $242,000 after acquiring an additional 73 shares in the last quarter. CX Institutional boosted its holdings in shares of Roku by 44.1% in the third quarter. CX Institutional now owns 281 shares of the company’s stock worth $43,000 after acquiring an additional 86 shares during the period. Apella Capital LLC grew its position in shares of Roku by 1.4% in the third quarter. Apella Capital LLC now owns 6,752 shares of the company’s stock valued at $1,031,000 after purchasing an additional 93 shares in the last quarter. Allworth Financial LP grew its position in shares of Roku by 3.8% in the third quarter. Allworth Financial LP now owns 3,329 shares of the company’s stock valued at $507,000 after purchasing an additional 121 shares in the last quarter. Finally, Hantz Financial Services Inc. grew its position in shares of Roku by 0.5% in the third quarter. Hantz Financial Services Inc. now owns 25,766 shares of the company’s stock valued at $3,924,000 after purchasing an additional 132 shares in the last quarter. Institutional investors own 86.30% of the company’s stock.

Roku Company Profile

Roku, Inc provides a streaming platform that connects viewers with television and other digital video content. Its products include streaming players and Roku-branded televisions, as well as the Roku operating system, which the company licenses to television manufacturers.

Roku also operates a platform business that supports streaming services and advertisers. Its offerings include the Roku Channel, an ad-supported streaming service, and tools for distributing content and delivering advertising to viewers.

Founded in 2002 by Anthony Wood, Roku serves customers in the United States and other markets.