Roku’s (ROKU) Buy Rating Reiterated at Benchmark

Benchmark reissued their buy rating on shares of Roku (NASDAQ:ROKU) in a research note published on Monday morning,Benzinga reports. The firm currently has a $130.00 price target on the stock.

A number of other brokerages have also recently issued reports on ROKU. Citigroup upgraded shares of Roku from a “neutral” rating to an “outperform” rating in a research report on Sunday, March 23rd. Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Monday, February 10th. Pivotal Research raised Roku from a “hold” rating to a “buy” rating and boosted their target price for the stock from $65.00 to $125.00 in a report on Friday, February 14th. JMP Securities raised their price target on Roku from $95.00 to $115.00 and gave the company a “market outperform” rating in a report on Friday, February 14th. Finally, FBN Securities initiated coverage on Roku in a research note on Friday, March 28th. They issued an “outperform” rating and a $93.00 price objective on the stock. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average price target of $94.11.

Roku Stock Up 1.2 %

NASDAQ:ROKU opened at $59.17 on Monday. The firm has a 50-day moving average price of $73.56 and a 200 day moving average price of $75.92. The firm has a market capitalization of $8.64 billion, a PE ratio of -66.48 and a beta of 2.17. Roku has a 12-month low of $48.33 and a 12-month high of $104.96.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) 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 business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.15 billion. On average, research analysts expect that Roku will post -0.3 EPS for the current year.

Insider Activity at Roku

In other news, CEO Anthony J. Wood sold 4,600 shares of Roku stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total value of $345,000.00. Following the completion of the transaction, the chief executive officer now owns 6,243 shares of the company’s stock, valued at $468,225. This trade represents a 42.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CAO Matthew C. Banks sold 1,906 shares of the firm’s stock in a transaction that occurred on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at $583,092.16. This trade represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 71,905 shares of company stock worth $6,560,876. 13.98% of the stock is currently owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. Entropy Technologies LP increased its holdings in shares of Roku by 264.4% during the fourth quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after buying an additional 18,520 shares in the last quarter. Geode Capital Management LLC grew its holdings in Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after acquiring an additional 56,820 shares during the period. Charles Schwab Investment Management Inc. raised its position in shares of Roku by 3.7% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock worth $73,661,000 after acquiring an additional 34,898 shares in the last quarter. Achmea Investment Management B.V. grew its position in shares of Roku by 146.4% during the 4th quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company’s stock worth $756,000 after buying an additional 6,042 shares during the period. Finally, Allstate Corp bought a new stake in Roku in the fourth quarter valued at $275,000. 86.30% of the stock is 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.