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

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reiterated by equities research analysts at Wedbush in a research note issued to investors on Thursday, Benzinga reports. They presently have a $155.00 target price on the stock. Wedbush’s price objective indicates a potential upside of 1.32% from the company’s current price.

Other research analysts also recently issued research reports about the stock. Needham & Company LLC reiterated a “buy” rating on shares of Roku in a report on Friday, August 7th. Citizens Jmp downgraded shares of Roku from a “market outperform” rating to a “hold” rating in a report on Tuesday, June 16th. Piper Sandler downgraded shares of Roku from an “overweight” rating to a “neutral” rating and lifted their target price for the stock from $148.00 to $160.00 in a report on Tuesday, June 16th. Morgan Stanley increased their price target on shares of Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a report on Thursday, June 4th. Finally, Wells Fargo & Company restated an “equal weight” rating and issued a $165.00 price target (down from $167.00) on shares of Roku in a research report on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have given a Hold rating to the stock. Based on data from MarketBeat, Roku has a consensus rating of “Hold” and a consensus target price of $156.17.

Roku Stock Up 0.2%

Shares of ROKU traded up $0.30 during mid-day trading on Thursday, hitting $152.98. 574,334 shares of the company’s stock were exchanged, compared to its average volume of 3,409,750. The firm has a fifty day moving average of $152.54 and a two-hundred day moving average of $131.39. Roku has a twelve month low of $78.53 and a twelve month high of $159.89. The stock has a market cap of $22.70 billion, a price-to-earnings ratio of 65.40 and a beta of 2.05.

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

Insider Buying and Selling

In other news, insider Charles Collier sold 20,538 shares of Roku stock in a transaction that occurred on Tuesday, August 4th. The shares were sold at an average price of $145.93, for a total transaction of $2,997,110.34. Following the completion of the sale, the insider owned 15,200 shares in the company, valued at $2,218,136. The trade was a 57.47% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, SVP Christopher T. 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 sale, the senior vice president owned 8,997 shares of the company’s stock, valued at approximately $1,400,293.08. This represents a 25.00% decrease in their position. The SEC filing for this sale provides additional information. 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. In the last 90 days, insiders sold 112,285 shares of company stock valued at $16,939,414. Insiders own 13.45% of the company’s stock.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the stock. Bayban raised its position 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 in the last quarter. Elevation Wealth Partners LLC increased its holdings in shares of Roku by 208.7% in the second quarter. Elevation Wealth Partners LLC now owns 318 shares of the company’s stock valued at $44,000 after purchasing an additional 215 shares during the last quarter. Osbon Capital Management LLC acquired a new position in shares of Roku in the fourth quarter valued at about $45,000. Coppell Advisory Solutions LLC acquired a new position in shares of Roku in the second quarter valued at about $47,000. Finally, Hilton Head Capital Partners LLC grew its stake in shares of Roku by 175.0% in the first quarter. Hilton Head Capital Partners LLC now owns 550 shares of the company’s stock valued at $52,000 after acquiring an additional 350 shares in 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.