Roku (NASDAQ:ROKU) Price Target Raised to $172.00 at UBS Group

Roku (NASDAQ:ROKU) had its price target raised by UBS Group from $126.00 to $172.00 in a research note released on Friday,Benzinga reports. They currently have a neutral rating on the stock.

Other equities analysts also recently issued research reports about the company. Benchmark raised their target price on Roku from $130.00 to $160.00 and gave the company a “buy” rating in a research report on Friday, May 1st. Zacks Research downgraded Roku from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, April 14th. Rosenblatt Securities restated a “buy” rating and issued a $160.00 price objective on shares of Roku in a report on Monday. Evercore cut shares of Roku from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 15th. Finally, Weiss Ratings reaffirmed a “hold (c-)” rating on shares of Roku in a report on Friday, May 15th. Eight investment analysts have rated the stock with a Buy rating and nineteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $156.25.

Roku Price Performance

Shares of NASDAQ ROKU opened at $153.11 on Friday. The firm has a market cap of $22.57 billion, a price-to-earnings ratio of 65.43 and a beta of 2.01. The company’s 50-day simple moving average is $138.39 and its 200-day simple moving average is $116.38. Roku has a 52-week low of $78.53 and a 52-week high of $153.54.

Roku (NASDAQ:ROKU) last issued its quarterly earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.47. Roku had a net margin of 6.82% and a return on equity of 13.73%. The firm had revenue of $1.35 billion for the quarter, compared to analyst estimates of $1.30 billion. During the same period last year, the company posted $0.07 EPS. Roku’s quarterly revenue was up 21.9% compared to the same quarter last year. Equities research analysts anticipate that Roku will post 2.41 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Dan Jedda sold 7,000 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $122.56, for a total transaction of $857,920.00. Following the sale, the chief financial officer owned 71,115 shares of the company’s stock, valued at approximately $8,715,854.40. This represents a 8.96% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Charles Collier sold 20,538 shares of the firm’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $142.51, for a total value of $2,926,870.38. Following the completion of the sale, the insider owned 15,200 shares in the company, valued at approximately $2,166,152. This represents a 57.47% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 162,452 shares of company stock worth $21,811,132 over the last 90 days. 13.45% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Several hedge funds have recently made changes to their positions in the company. Jefferies Financial Group Inc. acquired a new stake in Roku in the 4th quarter valued at about $1,345,000. Moran Wealth Management LLC purchased a new position in Roku during the first quarter worth $2,990,000. California Public Employees Retirement System lifted its position in shares of Roku by 14.8% in the first quarter. California Public Employees Retirement System now owns 260,774 shares of the company’s stock valued at $24,674,000 after acquiring an additional 33,593 shares in the last quarter. Katamaran Capital LLP increased its position in Roku by 90.8% during the 1st quarter. Katamaran Capital LLP now owns 52,548 shares of the company’s stock worth $4,972,000 after purchasing an additional 25,002 shares in the last quarter. Finally, Lazard Asset Management LLC raised its stake in Roku by 31.6% in the 1st quarter. Lazard Asset Management LLC now owns 96,204 shares of the company’s stock valued at $9,103,000 after purchasing an additional 23,092 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.