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

Roku (NASDAQ:ROKU - Get Free Report) was upgraded by research analysts at Wells Fargo & Company from an "equal weight" rating to an "overweight" rating in a report issued on Friday, MarketBeat reports. The brokerage currently has a $129.00 price target on the stock, up from their previous price target of $74.00. Wells Fargo & Company's price objective would suggest a potential upside of 34.66% from the stock's previous close.

ROKU has been the topic of several other reports. Macquarie reiterated an "outperform" rating and set a $90.00 price objective on shares of Roku in a research report on Thursday, October 31st. Morgan Stanley increased their price objective on Roku from $60.00 to $65.00 and gave the company an "underweight" rating in a research report on Tuesday, October 29th. Piper Sandler increased their price objective on Roku from $60.00 to $75.00 and gave the company a "neutral" rating in a research report on Thursday, October 31st. Needham & Company LLC restated a "buy" rating and set a $100.00 price target on shares of Roku in a research report on Tuesday, January 7th. Finally, Wedbush restated an "outperform" rating and set a $100.00 price target on shares of Roku in a research report on Monday, February 10th. Three research analysts have rated the stock with a sell rating, five have given a hold rating, fourteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $92.62.

Roku Price Performance

NASDAQ ROKU traded down $3.27 during trading on Friday, reaching $95.80. The company's stock had a trading volume of 6,051,135 shares, compared to its average volume of 3,783,389. The stock has a market capitalization of $13.91 billion, a PE ratio of -79.83 and a beta of 2.05. The firm has a fifty day moving average of $80.86 and a 200 day moving average of $74.18. Roku has a one year low of $48.33 and a one year high of $104.96.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings data on Thursday, February 13th. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.44) by $0.20. The firm had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Research analysts expect that Roku will post -1.09 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Dan Jedda sold 5,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The stock was sold at an average price of $100.40, for a total value of $502,000.00. Following the completion of the transaction, the chief financial officer now owns 58,555 shares in the company, valued at $5,878,922. This trade represents a 7.87 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm's stock in a transaction that occurred on Friday, February 14th. The shares were sold at an average price of $100.40, for a total value of $2,510,000.00. Following the transaction, the chief executive officer now directly owns 26,538 shares of the company's stock, valued at approximately $2,664,415.20. This trade represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 109,421 shares of company stock worth $9,660,786 in the last quarter. 13.98% of the stock is owned by company insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. FMR LLC increased its position in Roku by 31.7% during the 4th quarter. FMR LLC now owns 19,183,942 shares of the company's stock valued at $1,426,134,000 after buying an additional 4,613,570 shares in the last quarter. Vanguard Group Inc. increased its position in Roku by 1.5% during the 4th quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company's stock valued at $910,597,000 after buying an additional 185,676 shares in the last quarter. Marshall Wace LLP increased its holdings in shares of Roku by 663.9% in the 4th quarter. Marshall Wace LLP now owns 2,335,813 shares of the company's stock worth $173,644,000 after purchasing an additional 2,030,036 shares in the last quarter. T. Rowe Price Investment Management Inc. increased its holdings in shares of Roku by 10.5% in the 4th quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company's stock worth $168,734,000 after purchasing an additional 215,841 shares in the last quarter. Finally, Geode Capital Management LLC increased its holdings in shares of Roku by 2.7% in the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after purchasing an additional 56,820 shares in the last quarter. Institutional investors 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.