Wells Fargo & Company Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its price objective raised by Wells Fargo & Company from $72.00 to $74.00 in a research note issued to investors on Thursday, Benzinga reports. They currently have an equal weight rating on the stock.

ROKU has been the subject of several other research reports. Macquarie reissued an “outperform” rating and issued a $90.00 price target on shares of Roku in a report on Thursday. Rosenblatt Securities lifted their target price on shares of Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday. Citigroup upped their price target on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective for the company in a research note on Thursday, September 12th. Finally, Piper Sandler upped their target price on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $83.95.

Roku Stock Up 2.5 %

Shares of Roku stock opened at $65.70 on Thursday. The company has a market cap of $9.51 billion, a P/E ratio of -54.75 and a beta of 2.07. The firm’s 50 day moving average price is $73.22 and its 200-day moving average price is $63.79. Roku has a 52-week low of $48.33 and a 52-week high of $108.84.

Roku (NASDAQ:ROKU) last released its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company earned ($2.33) earnings per share. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, equities research analysts forecast that Roku will post -1.41 EPS for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $376,500. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the completion of the transaction, the chief financial officer now owns 53,267 shares of the company’s stock, valued at approximately $4,061,608.75. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,566 shares of company stock valued at $5,254,000. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in the business. Swedbank AB acquired a new position in Roku during the first quarter worth $1,180,000. SG Americas Securities LLC raised its position in shares of Roku by 238.6% during the 2nd quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock worth $4,407,000 after purchasing an additional 51,815 shares during the last quarter. Kessler Investment Group LLC lifted its stake in Roku by 21.8% in the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after buying an additional 13,590 shares in the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. boosted its holdings in Roku by 23.3% in the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after buying an additional 11,851 shares during the last quarter. Finally, Vanguard Group Inc. increased its stake in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after buying an additional 92,658 shares in the last quarter. 86.30% of the stock is owned by institutional investors and hedge funds.

About Roku

Roku, Inc, together with its subsidiaries, operates a TV streaming platform in the United states and internationally. The company operates in two segments, Platform and Devices. Its streaming platform allows users to find and access TV shows, movies, news, sports, and others. The Platform segment offers digital advertising, including direct and programmatic video advertising, media and entertainment promotional spending, and related services; and streaming services distribution, such as subscription and transaction revenue shares, and sale of premium subscriptions and branded app buttons on remote controls.