Roku (NASDAQ:ROKU) Upgraded to “Strong-Buy” at Zacks Research

Zacks Research upgraded shares of Roku (NASDAQ:ROKU) from a hold rating to a strong-buy rating in a report released on Tuesday,Zacks.com reports.

Other analysts also recently issued research reports about the company. UBS Group lifted their price target on Roku from $95.00 to $103.00 and gave the company a “neutral” rating in a research note on Monday, November 3rd. Benchmark reaffirmed a “buy” rating on shares of Roku in a research report on Wednesday, February 4th. Oppenheimer set a $105.00 target price on shares of Roku and gave the company an “outperform” rating in a research report on Friday, February 6th. Citigroup reaffirmed an “outperform” rating on shares of Roku in a research report on Friday, January 9th. Finally, Susquehanna reaffirmed a “positive” rating and set a $130.00 price target on shares of Roku in a research report on Friday, October 31st. One analyst has rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating, four have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, Roku presently has an average rating of “Moderate Buy” and a consensus price target of $118.72.

Roku Price Performance

Shares of ROKU opened at $87.89 on Tuesday. Roku has a one year low of $52.43 and a one year high of $116.66. The business’s 50 day simple moving average is $104.38 and its 200-day simple moving average is $98.99. The company has a market capitalization of $12.99 billion, a P/E ratio of -439.43 and a beta of 1.99.

Insider Transactions at Roku

In other news, Director Neil D. Hunt sold 2,000 shares of Roku stock in a transaction on Friday, January 2nd. The stock was sold at an average price of $108.98, for a total transaction of $217,960.00. Following the completion of the sale, the director owned 7,782 shares of the company’s stock, valued at approximately $848,082.36. This trade represents a 20.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 3,000 shares of the company’s stock in a transaction dated Monday, December 15th. The shares were sold at an average price of $107.44, for a total transaction of $322,320.00. Following the completion of the transaction, the chief financial officer owned 90,267 shares in the company, valued at $9,698,286.48. This trade represents a 3.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last quarter, insiders sold 184,790 shares of company stock worth $19,685,259. 13.98% of the stock is currently owned by company insiders.

Institutional Trading of Roku

A number of institutional investors have recently modified their holdings of the stock. AQR Capital Management LLC increased its position in shares of Roku by 275.5% in the third quarter. AQR Capital Management LLC now owns 2,586,125 shares of the company’s stock worth $258,897,000 after purchasing an additional 1,897,407 shares during the period. Tableaux LLC acquired a new stake in Roku during the second quarter worth about $1,746,000. Holocene Advisors LP increased its holdings in Roku by 352.3% in the 3rd quarter. Holocene Advisors LP now owns 1,650,448 shares of the company’s stock valued at $165,259,000 after buying an additional 1,285,585 shares during the period. Norges Bank acquired a new stake in shares of Roku during the 4th quarter worth approximately $92,808,000. Finally, Acadian Asset Management LLC boosted its position in shares of Roku by 41.2% during the 2nd quarter. Acadian Asset Management LLC now owns 2,691,643 shares of the company’s stock worth $236,545,000 after acquiring an additional 785,864 shares in the last quarter. 86.30% of the stock is currently owned by institutional investors.

Roku Company Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.