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

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reissued by equities researchers at Wedbush in a note issued to investors on Thursday, Benzinga reports. They currently have a $155.00 price target on the stock. Wedbush’s price objective suggests a potential upside of 1.25% from the company’s current price.

A number of other research firms have also recently issued reports on ROKU. Evercore cut Roku from a “strong-buy” rating to a “hold” rating in a research report on Monday, June 15th. Morgan Stanley raised their price objective on Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a research report on Thursday, June 4th. Fox Advisors set a $157.00 price objective on Roku in a research report on Friday, July 17th. Citizens Jmp cut Roku from a “market outperform” rating to a “hold” rating in a research report on Tuesday, June 16th. Finally, Weiss Ratings raised Roku from a “hold (c-)” rating to a “hold (c)” rating in a research report on Tuesday, August 11th. One investment analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $156.17.

Roku Trading Up 0.3%

Shares of ROKU traded up $0.41 during mid-day trading on Thursday, reaching $153.09. The company’s stock had a trading volume of 735,689 shares, compared to its average volume of 3,410,715. Roku has a 1-year low of $78.53 and a 1-year high of $159.89. The stock has a market cap of $22.72 billion, a P/E ratio of 65.42 and a beta of 2.05. The business has a 50-day simple moving average of $152.54 and a two-hundred day simple moving average of $131.39.

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

Insider Buying and Selling at Roku

In related news, SVP Christopher Handman sold 2,999 shares of Roku stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total transaction of $466,764.36. Following the completion of the sale, the senior vice president directly owned 8,997 shares of the company’s stock, valued at approximately $1,400,293.08. This trade represents a 25.00% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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. Also, insider Mustafa Ozgen sold 3,410 shares of the firm’s stock in a transaction on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $530,732.40. Following the transaction, the insider owned 25,569 shares in the company, valued at approximately $3,979,559.16. This trade represents a 11.77% decrease in their position. 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 a total of 112,285 shares of company stock worth $16,939,414 in the last 90 days. Company insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Roku

Hedge funds have recently added to or reduced their stakes in the stock. Jefferies Financial Group Inc. bought a new position in shares of Roku in the 4th quarter valued at $1,345,000. Moran Wealth Management LLC bought a new position in shares of Roku in the 1st quarter valued at $2,990,000. Bank of New York Mellon Corp bought a new position in shares of Roku in the 2nd quarter valued at $105,216,000. Contravisory Investment Management Inc. bought a new position in shares of Roku in the 2nd quarter valued at $1,184,000. Finally, California Public Employees Retirement System increased its stake in shares of Roku by 14.8% in the 1st quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock valued at $24,674,000 after purchasing an additional 33,593 shares during 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.