Brokerages Set Roku, Inc. (NASDAQ:ROKU) PT at $155.12

Roku, Inc. (NASDAQ:ROKU) has been given an average recommendation of “Hold” by the twenty-seven ratings firms that are currently covering the stock, Marketbeat reports. Seventeen research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. The average 12-month price target among brokers that have covered the stock in the last year is $155.1250.

A number of equities research analysts recently commented on ROKU shares. Robert W. Baird reaffirmed a “neutral” rating and set a $160.00 price objective on shares of Roku in a research note on Monday, June 15th. UBS Group set a $160.00 target price on Roku in a research note on Monday, June 15th. Rosenblatt Securities raised their target price on Roku from $150.00 to $160.00 and gave the stock a “buy” rating in a report on Tuesday, June 16th. Weiss Ratings restated a “hold (c-)” rating on shares of Roku in a research report on Friday, May 15th. Finally, Morgan Stanley upped their price target on Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th.

Roku Stock Performance

Shares of Roku stock opened at $145.09 on Tuesday. The firm has a fifty day moving average of $136.06 and a two-hundred day moving average of $114.64. The stock has a market capitalization of $21.39 billion, a price-to-earnings ratio of 109.09 and a beta of 2.01. Roku has a 52 week low of $78.53 and a 52 week high of $148.88.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, April 30th. The company reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates of $0.34 by $0.23. Roku had a return on equity of 7.64% and a net margin of 4.06%.The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same quarter in the prior year, the business posted ($0.19) EPS. The firm’s quarterly revenue was up 22.4% on a year-over-year basis. As a group, research analysts forecast that Roku will post 2.41 EPS for the current fiscal year.

Insider Activity

In related news, insider Mustafa Ozgen sold 10,194 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the completion of the transaction, the insider owned 19,185 shares in the company, valued at approximately $2,762,640. The trade was a 34.70% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Dan Jedda sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $122.56, for a total transaction of $857,920.00. Following the completion of the sale, the chief financial officer directly owned 71,115 shares of the company’s stock, valued at $8,715,854.40. The trade was a 8.96% 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. Insiders sold 224,181 shares of company stock worth $29,043,628 over the last quarter. 13.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Several institutional investors and hedge funds have recently made changes to their positions in ROKU. Ballast Inc. acquired a new stake in Roku during the 2nd quarter worth $222,000. Handelsbanken Fonder AB grew its stake in Roku by 12.5% in the second quarter. Handelsbanken Fonder AB now owns 41,400 shares of the company’s stock valued at $5,719,000 after acquiring an additional 4,600 shares during the period. Contravisory Investment Management Inc. acquired a new position in Roku in the second quarter valued at about $1,184,000. Legacy Wealth Asset Management LLC bought a new stake in shares of Roku in the second quarter worth about $325,000. Finally, Everhart Financial Group Inc. bought a new stake in shares of Roku in the second quarter worth about $230,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

About Roku

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.