Roku (NASDAQ:ROKU) Upgraded by Wells Fargo & Company to “Overweight” Rating

Roku (NASDAQ:ROKU) was upgraded by equities research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a research note issued on Friday,Briefing.com Automated Import reports. The brokerage currently has a $129.00 price target on the stock, up from their prior price target of $74.00. Wells Fargo & Company‘s price target points to a potential upside of 48.62% from the company’s current price.

A number of other analysts also recently issued reports on the company. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Loop Capital increased their target price on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research note on Monday, December 9th. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Roku in a research note on Tuesday, January 7th. Macquarie reiterated an “outperform” rating and issued a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Finally, Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Monday. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, Roku presently has a consensus rating of “Moderate Buy” and a consensus target price of $87.95.

Roku Stock Performance

NASDAQ ROKU opened at $86.80 on Friday. The company has a market capitalization of $12.60 billion, a P/E ratio of -72.33 and a beta of 2.05. Roku has a one year low of $48.33 and a one year high of $95.17. The stock has a 50 day moving average price of $80.17 and a 200-day moving average price of $73.28.

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

Insider Buying and Selling at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total transaction of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,555 shares in the company, valued at approximately $4,916,625. This represents a 1.50 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction dated Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. This trade represents a 54.48 % 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.

Hedge Funds Weigh In On Roku

A number of hedge funds and other institutional investors have recently bought and sold shares of ROKU. FMR LLC raised 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 purchasing an additional 4,613,570 shares in the last quarter. Marshall Wace LLP raised 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 purchasing an additional 2,030,036 shares in the last quarter. Holocene Advisors LP acquired a new stake in Roku in the 3rd quarter valued at about $129,015,000. Westfield Capital Management Co. LP raised 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 purchasing an additional 856,401 shares in the last quarter. Finally, Point72 Asset Management L.P. raised its position in Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after purchasing an additional 507,643 shares in the last quarter. 86.30% of the stock is currently 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.