Roku’s (ROKU) “Neutral” Rating Reaffirmed at Rosenblatt Securities

Roku (NASDAQ:ROKU)‘s stock had its “neutral” rating reaffirmed by research analysts at Rosenblatt Securities in a note issued to investors on Thursday,Benzinga reports. They currently have a $86.00 target price on the stock. Rosenblatt Securities’ price target indicates a potential upside of 1.01% from the company’s current price.

ROKU has been the topic of several other research reports. Robert W. Baird raised Roku from a “neutral” rating to an “outperform” rating and boosted their price objective for the stock from $70.00 to $90.00 in a research report on Monday, November 18th. Moffett Nathanson downgraded shares of Roku from a “neutral” rating to a “sell” rating and set a $55.00 price target on the stock. in a report on Friday, January 10th. Baird R W upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a report on Monday, November 18th. Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Monday. Finally, Macquarie reissued an “outperform” rating and set a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. Three investment analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $83.18.

Roku Trading Up 0.4 %

Roku stock traded up $0.36 during trading on Thursday, hitting $85.14. 3,129,861 shares of the company were exchanged, compared to its average volume of 2,948,294. The business’s 50 day moving average is $80.17 and its 200 day moving average is $73.28. Roku has a 52 week low of $48.33 and a 52 week high of $95.17. The company has a market capitalization of $12.36 billion, a P/E ratio of -70.87 and a beta of 2.05.

Insider Buying and Selling at Roku

In other Roku news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the transaction, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Monday, February 10th. The shares were sold at an average price of $87.93, for a total value of $2,198,250.00. Following the transaction, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,333,486.34. This trade represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 97,885 shares of company stock valued at $7,911,162. 13.98% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On Roku

A number of institutional investors and hedge funds have recently modified their holdings of the company. Entropy Technologies LP boosted its stake in shares of Roku by 264.4% during the 4th quarter. Entropy Technologies LP now owns 25,525 shares of the company’s stock worth $1,898,000 after acquiring an additional 18,520 shares during the last quarter. Holocene Advisors LP bought a new stake in Roku during the third quarter valued at about $129,015,000. Kessler Investment Group LLC lifted its position in shares of Roku by 21.8% during the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock valued at $5,672,000 after buying an additional 13,590 shares in the last quarter. National Bank of Canada FI grew its stake in shares of Roku by 11,626.3% during the 3rd quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock valued at $11,259,000 after acquiring an additional 149,514 shares during the period. Finally, EULAV Asset Management increased its holdings in Roku by 59.1% in the 3rd quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock worth $13,663,000 after acquiring an additional 68,000 shares in the last quarter. 86.30% of the stock is currently 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.