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

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a research report issued to clients and investors on Thursday, September 24th, Benzinga reports. They presently have a $155.00 price target on the stock. Wedbush’s target price suggests a potential upside of 1.79% from the company’s previous close.

Several other equities analysts also recently commented on ROKU. Oppenheimer downgraded Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Wells Fargo & Company restated an “equal weight” rating and issued a $165.00 price objective (down from $167.00) on shares of Roku in a research report on Friday, August 14th. Needham & Company LLC restated a “buy” rating on shares of Roku in a research report on Friday, August 7th. William Blair downgraded Roku from an “outperform” rating to a “market perform” rating in a research report on Monday, June 15th. Finally, Wolfe Research downgraded Roku from an “outperform” rating to a “peer perform” rating in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating and nineteen have given a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $156.17.

Roku Stock Up 0.1%

Shares of Roku stock opened at $152.28 on Thursday. The stock’s 50-day simple moving average is $153.05 and its 200-day simple moving average is $132.53. Roku has a 52 week low of $78.53 and a 52 week high of $159.89. The company has a market capitalization of $22.60 billion, a price-to-earnings ratio of 65.08 and a beta of 2.05.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.08 EPS for the quarter, beating the consensus estimate of $0.61 by $0.47. Roku had a return on equity of 13.73% and a net margin of 6.82%.The business had revenue of $1.35 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $0.07 earnings per share. The business’s revenue was up 21.9% on a year-over-year basis. On average, equities analysts expect that Roku will post 2.92 earnings per share for the current year.

Insider Buying and Selling

In related news, insider Charles Collier sold 20,538 shares of the business’s stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $156.99, for a total value of $3,224,260.62. Following the sale, the insider directly owned 22,700 shares in the company, valued at approximately $3,563,673. The trade was a 47.50% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Handman sold 2,999 shares of the business’s 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 completion of the sale, the senior vice president owned 8,997 shares in the company, valued at $1,400,293.08. This represents 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 sold 109,731 shares of company stock valued at $16,581,175 in the last ninety days. Company insiders own 13.45% of the company’s stock.

Institutional Investors Weigh In On Roku

Several large investors have recently added to or reduced their stakes in ROKU. Bayban increased its stake in Roku by 1,300.0% during the first quarter. Bayban now owns 280 shares of the company’s stock worth $26,000 after acquiring an additional 260 shares during the last quarter. Elevation Wealth Partners LLC increased its stake in Roku by 208.7% during the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock worth $44,000 after acquiring an additional 215 shares during the last quarter. Osbon Capital Management LLC bought a new stake in Roku during the fourth quarter worth approximately $45,000. Coppell Advisory Solutions LLC bought a new stake in Roku during the second quarter worth approximately $47,000. Finally, Hilton Head Capital Partners LLC increased its stake in Roku by 175.0% during the first quarter. Hilton Head Capital Partners LLC now owns 550 shares of the company’s stock worth $52,000 after acquiring an additional 350 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

About Roku

Roku, Inc develops and operates a television streaming platform that connects consumers with digital entertainment. Its platform enables users to access streaming services, live television, movies, music and other content through Roku devices and Roku-powered televisions.

The company offers Roku streaming players, Roku-branded televisions and the Roku operating system, which it licenses to television manufacturers. Roku also operates The Roku Channel, an ad-supported streaming service offering movies, television programs, news, live channels and other content.