Roku (NASDAQ:ROKU) Earns Outperform Rating from Wedbush

Roku (NASDAQ:ROKU)‘s stock had its “outperform” rating restated by stock analysts at Wedbush in a research report issued to clients and investors on Monday,RTT News reports. They currently have a $100.00 target price on the stock. Wedbush’s target price would suggest a potential upside of 20.85% from the company’s previous close.

A number of other brokerages have also recently commented on ROKU. Macquarie reiterated an “outperform” rating and issued a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. Wells Fargo & Company lifted their price objective on Roku from $72.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, October 31st. Piper Sandler increased their target price on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a report on Thursday, October 31st. Rosenblatt Securities lifted their price target on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Finally, Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and increased their price objective for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Price Performance

Shares of NASDAQ:ROKU opened at $82.75 on Monday. Roku has a one year low of $48.33 and a one year high of $99.80. The company’s fifty day moving average price is $79.99 and its 200-day moving average price is $73.03. The firm has a market capitalization of $12.02 billion, a price-to-earnings ratio of -68.96 and a beta of 2.05.

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 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 represents a 73.97 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction dated 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 sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,193,100.32. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 72,885 shares of company stock valued at $5,712,912 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

A number of institutional investors have recently made changes to their positions in the company. Farther Finance Advisors LLC lifted its position in Roku by 23.9% in the 4th quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after acquiring an additional 121 shares in the last quarter. GS Investments Inc. lifted its holdings in shares of Roku by 33.4% during the third quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares in the last quarter. PFG Investments LLC boosted its position in shares of Roku by 3.7% during the third quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after buying an additional 150 shares during the last quarter. True Vision MN LLC increased its holdings in Roku by 3.1% in the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after buying an additional 152 shares in the last quarter. Finally, Richard W. Paul & Associates LLC raised its position in Roku by 1.1% in the 4th quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock worth $1,189,000 after buying an additional 177 shares during the last quarter. Hedge funds and other institutional investors 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.