Roku (NASDAQ:ROKU) Receives “Outperform” Rating from Wedbush

Wedbush reissued their outperform rating on shares of Roku (NASDAQ:ROKU) in a research note released on Monday morning,RTT News reports. They currently have a $100.00 target price on the stock.

ROKU has been the topic of a number of other reports. Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. JMP Securities reaffirmed a “market outperform” rating and issued a $95.00 price target on shares of Roku in a research note on Monday, February 3rd. Morgan Stanley increased their target price on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Wells Fargo & Company boosted their price target on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a research report on Thursday, October 31st. Finally, Macquarie reaffirmed an “outperform” rating and set a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Stock Performance

Shares of Roku stock opened at $84.60 on Monday. The firm has a market cap of $12.28 billion, a P/E ratio of -70.50 and a beta of 2.05. The firm’s 50-day simple moving average is $79.84 and its 200-day simple moving average is $72.84. Roku has a twelve month low of $48.33 and a twelve month high of $99.80.

Insider Buying and Selling at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total transaction of $1,994,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $82.73, for a total value of $82,730.00. Following the completion of the transaction, the chief financial officer now directly owns 64,555 shares in the company, valued at $5,340,635.15. The trade was a 1.53 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 72,885 shares of company stock worth $5,712,912. Company insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

Institutional investors have recently modified their holdings of the stock. Kennondale Capital Management LLC acquired a new position in Roku during the fourth quarter valued at approximately $1,826,000. Counterpoint Mutual Funds LLC bought a new position in shares of Roku during the fourth quarter worth $697,000. Achmea Investment Management B.V. grew its holdings in shares of Roku by 146.4% in the 4th quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock valued at $756,000 after buying an additional 6,042 shares during the period. ANTIPODES PARTNERS Ltd increased its position in shares of Roku by 91.3% in the 4th quarter. ANTIPODES PARTNERS Ltd now owns 3,812 shares of the company’s stock valued at $283,000 after buying an additional 1,819 shares in the last quarter. Finally, Avantax Advisory Services Inc. raised its stake in Roku by 3.2% during the 4th quarter. Avantax Advisory Services Inc. now owns 11,328 shares of the company’s stock worth $842,000 after buying an additional 352 shares during the period. 86.30% of the stock is currently 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.