Roku (NASDAQ:ROKU) Coverage Initiated at Bank of America

Equities research analysts at Bank of America initiated coverage on shares of Roku (NASDAQ:ROKU) in a report released on Thursday. The brokerage set a “buy” rating and a $100.00 price target on the stock. Bank of America‘s price target points to a potential upside of 37.95% from the company’s previous close.

Several other equities research analysts also recently weighed in on the company. Compass Point started coverage on Roku in a research report on Sunday, March 23rd. They set a “buy” rating on the stock. Needham & Company LLC reaffirmed a “buy” rating and set a $120.00 target price on shares of Roku in a report on Monday, March 24th. JMP Securities lifted their price target on Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a research report on Friday, February 14th. Citigroup upgraded Roku from a “neutral” rating to an “outperform” rating in a research report on Sunday, March 23rd. Finally, Wells Fargo & Company raised shares of Roku from an “equal weight” rating to an “overweight” rating and lifted their target price for the company from $74.00 to $129.00 in a report on Friday, February 14th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating, seventeen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $96.55.

Roku Stock Down 4.7 %

Shares of NASDAQ:ROKU opened at $72.49 on Thursday. Roku has a 52-week low of $48.33 and a 52-week high of $104.96. The stock has a market cap of $10.58 billion, a price-to-earnings ratio of -81.45 and a beta of 2.12. The business has a 50-day moving average price of $81.10 and a 200-day moving average price of $77.59.

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

Insiders Place Their Bets

In related news, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total transaction of $561,913.25. Following the completion of the sale, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. This trade represents a 49.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CFO Dan Jedda sold 5,000 shares of Roku stock in a transaction dated Friday, February 14th. The stock was sold at an average price of $100.40, for a total transaction of $502,000.00. Following the transaction, the chief financial officer now directly owns 58,555 shares in the company, valued at $5,878,922. This trade represents a 7.87 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 97,908 shares of company stock valued at $8,633,436 in the last ninety days. 13.98% of the stock is currently owned by corporate insiders.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in ROKU. Entropy Technologies LP grew its position in Roku by 264.4% in the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after acquiring an additional 18,520 shares during the period. Holocene Advisors LP acquired a new position in shares of Roku in the 3rd quarter valued at $129,015,000. National Bank of Canada FI grew its holdings in shares of Roku by 11,626.3% during the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock worth $11,259,000 after purchasing an additional 149,514 shares during the period. Charles Schwab Investment Management Inc. increased its position in shares of Roku by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after purchasing an additional 34,898 shares during the last quarter. Finally, Achmea Investment Management B.V. raised its holdings in 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. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.