Roku (NASDAQ:ROKU) Now Covered by Analysts at FBN Securities

FBN Securities began coverage on shares of Roku (NASDAQ:ROKU) in a report released on Friday, MarketBeat.com reports. The brokerage issued an outperform rating and a $93.00 target price on the stock.

A number of other analysts also recently issued reports on the company. Benchmark boosted their price objective on shares of Roku from $100.00 to $130.00 and gave the company a “buy” rating in a report on Friday, February 14th. Pivotal Research raised Roku from a “hold” rating to a “buy” rating and upped their price objective for the stock from $65.00 to $125.00 in a research report on Friday, February 14th. Needham & Company LLC reaffirmed a “buy” rating and issued a $120.00 target price on shares of Roku in a report on Monday, March 24th. Jefferies Financial Group upgraded Roku from an “underperform” rating to a “hold” rating and raised their price target for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating, seventeen have given a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, Roku presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.55.

Roku Trading Down 4.7 %

NASDAQ:ROKU opened at $72.49 on Friday. The company has a market cap of $10.58 billion, a P/E ratio of -81.45 and a beta of 2.12. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The company’s 50-day moving average price is $81.10 and its 200-day moving average price is $77.59.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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, analysts expect that Roku will post -0.3 earnings per share for the current year.

Insider Transactions at Roku

In other Roku news, CAO Matthew C. Banks sold 1,906 shares of the company’s stock in a transaction on Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total value of $153,166.16. Following the sale, the chief accounting officer now owns 7,256 shares of the company’s stock, valued at approximately $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 4,600 shares of the stock in a transaction dated Thursday, March 20th. The shares were sold at an average price of $75.00, for a total transaction of $345,000.00. Following the completion of the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. The trade was a 42.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 97,908 shares of company stock valued at $8,633,436. Corporate insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. FMR LLC lifted its position in shares of Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock valued at $1,426,134,000 after acquiring an additional 4,613,570 shares in the last quarter. Marshall Wace LLP boosted its holdings in Roku by 663.9% in the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company’s stock valued at $173,644,000 after acquiring an additional 2,030,036 shares during the last quarter. Holocene Advisors LP acquired a new position in shares of Roku in the 3rd quarter valued at about $129,015,000. Cadian Capital Management LP purchased a new stake in Roku during the fourth quarter worth approximately $87,632,000. Finally, Jacobs Levy Equity Management Inc. boosted its position in Roku by 505.3% during the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company’s stock worth $96,402,000 after purchasing an additional 1,082,548 shares during the period. 86.30% of the stock is 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.