Roku’s (ROKU) Outperform Rating Reiterated at Wedbush

Wedbush restated their outperform rating on shares of Roku (NASDAQ:ROKU) in a report issued on Monday morning,RTT News reports. The brokerage currently has a $100.00 target price on the stock.

A number of other equities research analysts have also recently issued reports on the stock. Macquarie reaffirmed an “outperform” rating and issued a $90.00 price objective on shares of Roku in a research note on Thursday, October 31st. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Piper Sandler upped their price objective on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Jefferies Financial Group cut their price objective on shares of Roku from $60.00 to $55.00 and set an “underperform” rating for the company in a research note on Friday, November 1st. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Tuesday, January 7th. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.18.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $84.78 on Monday. The company’s fifty day moving average price is $80.17 and its 200-day moving average price is $73.28. The firm has a market capitalization of $12.31 billion, a price-to-earnings ratio of -70.65 and a beta of 2.05. Roku has a one year low of $48.33 and a one year high of $95.88.

Insider Buying and Selling

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the business. ExodusPoint Capital Management LP bought a new stake in Roku during the 4th quarter valued at about $7,485,000. Arete Wealth Advisors LLC bought a new stake in Roku during the 4th quarter valued at about $206,000. Headlands Technologies LLC bought a new stake in Roku during the 4th quarter valued at about $1,443,000. Geode Capital Management LLC increased its stake in Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock valued at $159,353,000 after purchasing an additional 56,820 shares in the last quarter. Finally, StoneX Group Inc. bought a new stake in Roku during the 4th quarter valued at about $766,000. 86.30% of the stock is currently owned by 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.