Roku’s (ROKU) Neutral Rating Reiterated at Wedbush

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reaffirmed by equities researchers at Wedbush in a report released on Thursday, Benzinga reports. They currently have a $155.00 price objective on the stock. Wedbush’s target price suggests a potential upside of 1.53% from the stock’s previous close.

Other equities research analysts also recently issued research reports about the company. Rosenblatt Securities reiterated a “buy” rating and set a $160.00 price target on shares of Roku in a report on Monday, August 10th. Seaport Research Partners downgraded Roku from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. KeyCorp cut Roku from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 15th. Wells Fargo & Company reaffirmed an “equal weight” rating and set a $165.00 price target (down from $167.00) on shares of Roku in a research report on Friday, August 14th. Finally, Oppenheimer cut Roku from an “outperform” rating to a “market perform” rating in a report on Monday, June 15th. One analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating and nineteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $156.17.

Roku Stock Performance

Shares of NASDAQ ROKU traded down $0.01 during midday trading on Thursday, hitting $152.67. 1,786,977 shares of the stock traded hands, compared to its average volume of 3,416,601. The company has a market cap of $22.66 billion, a PE ratio of 65.24 and a beta of 2.05. Roku has a one year low of $78.53 and a one year high of $159.89. The business has a 50 day moving average price of $152.71 and a two-hundred day moving average price of $131.76.

Roku (NASDAQ:ROKU) last released 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 firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company posted $0.07 earnings per share. The company’s quarterly revenue was up 21.9% on a year-over-year basis. As a group, equities research analysts forecast that Roku will post 2.92 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related news, CFO Dan Jedda sold 7,000 shares of the firm’s stock in a transaction that occurred on Monday, August 17th. The stock was sold at an average price of $157.11, for a total transaction of $1,099,770.00. Following the transaction, the chief financial officer directly owned 65,963 shares in the company, valued at $10,363,446.93. This trade represents a 9.59% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher Handman sold 2,999 shares of the firm’s stock in a transaction that occurred on Wednesday, September 2nd. The stock was sold at an average price of $155.64, for a total value of $466,764.36. Following the transaction, the senior vice president owned 8,997 shares in the company, 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 sold 112,285 shares of company stock worth $16,939,414 over the last quarter. Company insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors and hedge funds have recently bought and sold shares of the stock. Geode Capital Management LLC grew its position in Roku by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after acquiring an additional 168,214 shares during the last quarter. Arrowstreet Capital Limited Partnership lifted its holdings in Roku by 229.5% in the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after buying an additional 1,419,772 shares during the period. HBK Investments L P purchased a new stake in Roku in the 2nd quarter worth approximately $163,604,000. Fred Alger Management LLC lifted its holdings in Roku by 7,087.7% in the 4th quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock worth $154,212,000 after buying an additional 1,401,664 shares during the period. Finally, Renaissance Technologies LLC lifted its holdings in Roku by 22.8% in the 1st quarter. Renaissance Technologies LLC now owns 1,565,100 shares of the company’s stock worth $148,090,000 after buying an additional 290,200 shares during the period. 86.30% of the stock is currently owned by institutional investors.

About Roku

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.