Roku (NASDAQ:ROKU) Coverage Initiated at FBN Securities

FBN Securities initiated coverage on shares of Roku (NASDAQ:ROKU) in a research note issued to investors on Friday, Marketbeat Ratings reports. The firm issued an outperform rating and a $93.00 price target on the stock.

ROKU has been the subject of several other reports. JPMorgan Chase & Co. raised their target price on shares of Roku from $92.00 to $115.00 and gave the company an “overweight” rating in a report on Friday, February 14th. UBS Group raised their price objective on shares of Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Wells Fargo & Company raised Roku from an “equal weight” rating to an “overweight” rating and upped their target price for the company from $74.00 to $129.00 in a research note on Friday, February 14th. Bank of America initiated coverage on Roku in a report on Thursday. They issued a “buy” rating and a $100.00 price target for the company. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 price objective on shares of Roku in a research report on Monday, March 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating, seventeen have issued a buy rating and three have issued a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $96.55.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $72.49 on Friday. The firm has a market capitalization of $10.58 billion, a price-to-earnings ratio of -81.45 and a beta of 2.12. The business’s 50 day simple moving average is $81.10 and its 200-day simple moving average is $77.72. Roku has a 12 month low of $48.33 and a 12 month high of $104.96.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, equities analysts anticipate that Roku will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the transaction, the chief financial officer now owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Anthony J. Wood sold 4,600 shares of the company’s stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total transaction of $345,000.00. Following the sale, the chief executive officer now directly owns 6,243 shares of the company’s stock, valued at approximately $468,225. This trade represents a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,908 shares of company stock valued at $8,633,436. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. boosted its position in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after buying an additional 270 shares during the period. Vision Financial Markets LLC purchased a new position in Roku in the 4th quarter worth approximately $30,000. Raelipskie Partnership acquired a new stake in Roku in the third quarter valued at approximately $32,000. Game Plan Financial Advisors LLC purchased a new stake in shares of Roku during the fourth quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd lifted its position in shares of Roku by 4,091.7% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after purchasing an additional 491 shares in the last quarter. 86.30% of the stock is owned by hedge funds and other institutional investors.

Roku Company Profile

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.