Roku (NASDAQ:ROKU) Upgraded by Wells Fargo & Company to “Overweight” Rating

Roku (NASDAQ:ROKU) was upgraded by research analysts at Wells Fargo & Company from an “equal weight” rating to an “overweight” rating in a report released on Friday,Briefing.com Automated Import reports. The brokerage presently has a $129.00 price target on the stock, up from their previous price target of $74.00. Wells Fargo & Company‘s target price points to a potential upside of 48.62% from the stock’s previous close.

A number of other analysts also recently issued reports on ROKU. Loop Capital raised their price objective on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a report on Monday, December 9th. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 18th. Wedbush reiterated an “outperform” rating and set a $100.00 target price on shares of Roku in a research report on Monday. Morgan Stanley increased their target price on shares of Roku from $60.00 to $65.00 and gave the stock an “underweight” rating in a research report on Tuesday, October 29th. Finally, Rosenblatt Securities reiterated a “neutral” rating and set a $86.00 target price on shares of Roku in a research report on Thursday. Three equities research analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat, Roku currently has an average rating of “Moderate Buy” and an average price target of $87.95.

Roku Price Performance

Shares of ROKU stock opened at $86.80 on Friday. The firm has a 50-day moving average of $80.17 and a 200-day moving average of $73.28. The company has a market cap of $12.60 billion, a P/E ratio of -72.33 and a beta of 2.05. Roku has a one year low of $48.33 and a one year high of $95.17.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. As a group, research analysts expect that Roku will post -1.09 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the completion of the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,333,486.34. This represents a 48.51 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Charles Collier sold 10,771 shares of the company’s 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 $269,620.60. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 97,885 shares of company stock worth $7,911,162 in the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds and other institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its position in shares of Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock valued at $25,000 after purchasing an additional 270 shares during the last quarter. Vision Financial Markets LLC purchased a new stake in shares of Roku during the 4th quarter valued at about $30,000. Raelipskie Partnership purchased a new stake in Roku in the 3rd quarter worth approximately $32,000. Game Plan Financial Advisors LLC purchased a new stake in Roku in the 4th quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd increased its holdings in Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 491 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.