Brokerages Set Roku, Inc. (NASDAQ:ROKU) Target Price at $156.17

Roku, Inc. (NASDAQ:ROKU) has been assigned an average rating of “Hold” from the twenty-seven brokerages that are currently covering the company, MarketBeat.com reports. Nineteen equities research analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has assigned a strong buy recommendation to the company. The average 12-month price objective among brokerages that have issued a report on the stock in the last year is $156.1667.

ROKU has been the topic of a number of recent research reports. Robert W. Baird restated a “neutral” rating and set a $160.00 price target on shares of Roku in a research report on Monday, June 15th. Rosenblatt Securities reiterated a “buy” rating and set a $160.00 price objective on shares of Roku in a research report on Monday, August 10th. Pivotal Research restated a “buy” rating and issued a $160.00 target price (up from $140.00) on shares of Roku in a report on Friday, May 1st. Citizens Jmp lowered Roku from a “market outperform” rating to a “hold” rating in a report on Tuesday, June 16th. Finally, KeyCorp cut shares of Roku from an “overweight” rating to a “sector weight” rating in a research report on Monday, June 15th.

Roku Trading Down 0.7%

NASDAQ ROKU opened at $158.60 on Friday. The stock has a market capitalization of $23.54 billion, a price-to-earnings ratio of 67.78 and a beta of 2.01. The stock has a 50-day moving average of $145.66 and a 200 day moving average of $121.55. Roku has a twelve month low of $78.53 and a twelve month high of $159.89.

Roku (NASDAQ:ROKU) last posted its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 EPS for the quarter, topping the consensus estimate of $0.61 by $0.47. The company had revenue of $1.35 billion during the quarter, compared to analyst estimates of $1.30 billion. Roku had a return on equity of 13.73% and a net margin of 6.82%.Roku’s quarterly revenue was up 21.9% on a year-over-year basis. During the same period in the previous year, the business earned $0.07 EPS. Equities analysts predict that Roku will post 2.82 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In related news, insider Charles Collier sold 20,538 shares of the stock in a transaction that occurred on Tuesday, August 4th. The stock was sold at an average price of $145.93, for a total value of $2,997,110.34. Following the completion of the transaction, the insider directly owned 15,200 shares in the company, valued at approximately $2,218,136. This represents a 57.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Neil D. Hunt sold 2,000 shares of the firm’s stock in a transaction on Monday, August 3rd. The stock was sold at an average price of $146.25, for a total value of $292,500.00. Following the sale, the director directly owned 9,629 shares of the company’s stock, valued at approximately $1,408,241.25. This trade represents a 17.20% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders have sold 162,452 shares of company stock worth $22,052,982. Insiders own 13.45% of the company’s stock.

Institutional Trading of Roku

A number of hedge funds and other institutional investors have recently modified their holdings of the business. Absolute Gestao de Investimentos Ltda. acquired a new position in Roku in the second quarter valued at about $8,427,000. VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in Roku during the second quarter worth about $4,474,000. California State Teachers Retirement System increased its position in shares of Roku by 13,741.7% during the second quarter. California State Teachers Retirement System now owns 20,912,738 shares of the company’s stock valued at $2,888,886,000 after acquiring an additional 20,761,653 shares during the last quarter. Readystate Asset Management LP purchased a new stake in shares of Roku in the 2nd quarter valued at approximately $22,373,000. Finally, Wedmont Private Capital purchased a new stake in shares of Roku in the 2nd quarter valued at approximately $262,000. 86.30% of the stock is owned by institutional investors and hedge funds.

About Roku

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.