JMP Securities Issues Positive Forecast for Roku (NASDAQ:ROKU) Stock Price

Roku (NASDAQ:ROKU) had its price target boosted by JMP Securities from $95.00 to $115.00 in a report issued on Friday morning,Benzinga reports. JMP Securities currently has a market outperform rating on the stock.

ROKU has been the subject of several other reports. Bank of America lifted their price objective on Roku from $90.00 to $120.00 and gave the stock a “buy” rating in a research report on Friday. Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and lifted their price objective for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Wells Fargo & Company upgraded Roku from an “equal weight” rating to an “overweight” rating and lifted their price objective for the stock from $74.00 to $129.00 in a research report on Friday. Needham & Company LLC restated a “buy” rating and set a $100.00 price objective on shares of Roku in a research report on Tuesday, January 7th. Finally, Citizens Jmp upgraded Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $93.18.

Roku Trading Up 14.1 %

ROKU stock opened at $99.07 on Friday. The firm has a 50 day moving average of $80.56 and a 200-day moving average of $73.65. Roku has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. Sell-side analysts forecast that Roku will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction on Tuesday, December 10th. The shares were sold at an average price of $82.64, for a total transaction of $2,066,000.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,193,100.32. This represents a 48.51 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Charles Collier sold 10,771 shares of the company’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the sale, the insider now directly owns 3,790 shares of the company’s stock, valued at approximately $269,620.60. This trade represents a 73.97 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,885 shares of company stock valued at $7,911,162. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

A number of institutional investors have recently added to or reduced their stakes in ROKU. FMR LLC boosted its position in Roku by 31.7% in the 4th quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after buying an additional 4,613,570 shares during the last quarter. Marshall Wace LLP boosted its position in Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after buying an additional 2,030,036 shares during the last quarter. Holocene Advisors LP purchased a new position in Roku in the 3rd quarter valued at about $129,015,000. Westfield Capital Management Co. LP boosted its position in Roku by 126.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC boosted its position in Roku by 214.1% in the 4th quarter. Gilder Gagnon Howe & Co. LLC now owns 864,974 shares of the company’s stock valued at $64,302,000 after buying an additional 589,610 shares during the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.