Roku (NASDAQ:ROKU) Upgraded by Wells Fargo & Company to “Equal Weight”

Wells Fargo & Company upgraded shares of Roku (NASDAQ:ROKU) from an underweight rating to an equal weight rating in a report released on Thursday morning, Marketbeat reports. Wells Fargo & Company currently has $72.00 target price on the stock, up from their prior target price of $50.00.

A number of other research analysts also recently weighed in on the company. Wedbush reiterated an outperform rating and set a $75.00 target price on shares of Roku in a report on Friday, August 2nd. Rosenblatt Securities reduced their price target on Roku from $89.00 to $61.00 and set a neutral rating on the stock in a research note on Friday, August 2nd. JPMorgan Chase & Co. lowered their price objective on Roku from $90.00 to $80.00 and set an overweight rating for the company in a research report on Friday, August 2nd. Macquarie reduced their target price on shares of Roku from $88.00 to $72.00 and set an outperform rating on the stock in a research report on Friday, August 2nd. Finally, Guggenheim raised shares of Roku from a neutral rating to a buy rating and set a $75.00 price target for the company in a research report on Friday, August 23rd. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, Roku presently has an average rating of Hold and an average price target of $77.47.

Roku Stock Down 3.5 %

Shares of ROKU stock opened at $64.37 on Thursday. The stock has a fifty day moving average of $61.09 and a 200 day moving average of $60.50. Roku has a 52 week low of $48.33 and a 52 week high of $108.84.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm had revenue of $968.18 million during the quarter, compared to analysts’ expectations of $937.78 million. During the same period last year, the company posted ($0.76) EPS. The company’s quarterly revenue was up 14.3% compared to the same quarter last year. Equities analysts anticipate that Roku will post -1.45 EPS for the current year.

Insider Activity at Roku

In other Roku news, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction dated Thursday, June 13th. The stock was sold at an average price of $55.59, for a total value of $673,973.16. Following the completion of the transaction, the senior vice president now owns 91,905 shares of the company’s stock, valued at approximately $5,108,998.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. In related news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the sale, the director now owns 3,259 shares in the company, valued at $188,630.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Stephen H. Kay sold 12,124 shares of the business’s stock in a transaction on Thursday, June 13th. The shares were sold at an average price of $55.59, for a total transaction of $673,973.16. Following the sale, the senior vice president now owns 91,905 shares of the company’s stock, valued at $5,108,998.95. The disclosure for this sale can be found here. Insiders have sold 18,265 shares of company stock valued at $1,067,351 over the last ninety days. Insiders own 13.98% of the company’s stock.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently modified their holdings of ROKU. Swedbank AB bought a new position in Roku in the first quarter valued at about $1,180,000. Vanguard Personalized Indexing Management LLC grew its position in Roku by 8.7% during the fourth quarter. Vanguard Personalized Indexing Management LLC now owns 11,381 shares of the company’s stock valued at $1,043,000 after buying an additional 914 shares during the period. SG Americas Securities LLC increased its holdings in Roku by 238.6% during the second quarter. SG Americas Securities LLC now owns 73,528 shares of the company’s stock valued at $4,407,000 after buying an additional 51,815 shares during the last quarter. Norges Bank bought a new position in Roku in the fourth quarter worth approximately $90,386,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Roku by 23.3% during the 1st quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 62,822 shares of the company’s stock worth $4,094,000 after acquiring an additional 11,851 shares during the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

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.