Roku (NASDAQ:ROKU) Price Target Lowered to $100.00 at Wedbush

Roku (NASDAQ:ROKU - Get Free Report) had its price target dropped by research analysts at Wedbush from $125.00 to $100.00 in a note issued to investors on Monday,Benzinga reports. The brokerage currently has an "outperform" rating on the stock. Wedbush's price target indicates a potential upside of 48.22% from the company's current price.

A number of other brokerages also recently issued reports on ROKU. Redburn Atlantic upgraded Roku from a "neutral" rating to a "buy" rating and set a $100.00 price target on the stock in a research report on Monday, April 7th. Rosenblatt Securities reissued a "neutral" rating and set a $86.00 price target on shares of Roku in a research report on Thursday, February 13th. Pivotal Research upgraded Roku from a "hold" rating to a "buy" rating and raised their price target for the company from $65.00 to $125.00 in a research note on Friday, February 14th. Benchmark reissued a "buy" rating and issued a $130.00 price objective on shares of Roku in a report on Monday, April 21st. Finally, Citigroup restated an "outperform" rating on shares of Roku in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $91.50.

Roku Stock Performance

Shares of ROKU stock traded up $1.76 during mid-day trading on Monday, reaching $67.47. 625,135 shares of the company's stock traded hands, compared to its average volume of 3,704,440. Roku has a 12 month low of $48.33 and a 12 month high of $104.96. The firm has a 50 day moving average price of $70.99 and a two-hundred day moving average price of $75.52. The firm has a market capitalization of $9.85 billion, a PE ratio of -76.08 and a beta of 2.17.

Roku (NASDAQ:ROKU - Get Free Report) last issued its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.44) by $0.20. The business had revenue of $1.20 billion for the quarter, compared to the consensus estimate of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. As a group, equities analysts expect that Roku will post -0.3 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, insider Charles Collier sold 7,181 shares of the company's stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total value of $561,913.25. Following the transaction, the insider now directly owns 7,380 shares in the company, valued at approximately $577,485. This represents a 49.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 4,600 shares of the firm's stock in a transaction on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the transaction, the chief executive officer now owns 6,243 shares in the company, valued at approximately $468,225. This trade represents a 42.42 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 71,905 shares of company stock valued at $6,560,876. Company insiders own 13.98% of the company's stock.

Hedge Funds Weigh In On Roku

A number of institutional investors have recently modified their holdings of ROKU. FMR LLC increased its holdings in Roku by 31.7% in the fourth quarter. FMR LLC now owns 19,183,942 shares of the company's stock worth $1,426,134,000 after purchasing an additional 4,613,570 shares in the last quarter. Marshall Wace LLP grew its holdings in Roku by 663.9% during the fourth quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after buying an additional 2,030,036 shares in the last quarter. Cadian Capital Management LP bought a new position in shares of Roku during the 4th quarter worth approximately $87,632,000. Jacobs Levy Equity Management Inc. grew its stake in Roku by 505.3% in the 4th quarter. Jacobs Levy Equity Management Inc. now owns 1,296,774 shares of the company's stock valued at $96,402,000 after purchasing an additional 1,082,548 shares during the period. Finally, Two Sigma Investments LP raised its holdings in shares of Roku by 149.8% in the 4th quarter. Two Sigma Investments LP now owns 1,210,879 shares of the company's stock worth $90,017,000 after purchasing an additional 726,077 shares during the period. Institutional investors and hedge funds own 86.30% of the company's stock.

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.

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