Roku (NASDAQ:ROKU) Rating Increased to Overweight at Wells Fargo & Company

Wells Fargo & Company upgraded shares of Roku (NASDAQ:ROKU) from an equal weight rating to an overweight rating in a research note released on Friday, MarketBeat reports. Wells Fargo & Company currently has $129.00 price objective on the stock, up from their prior price objective of $74.00.

Several other research firms have also recently weighed in on ROKU. Moffett Nathanson cut Roku from a “neutral” rating to a “sell” rating and set a $55.00 price objective for the company. in a report on Friday, January 10th. Piper Sandler raised their target price on Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Citizens Jmp upgraded Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. Macquarie restated an “outperform” rating and issued a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Finally, Robert W. Baird upgraded Roku from a “neutral” rating to an “outperform” rating and raised their target price for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Three analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have given a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $93.18.

Roku Stock Performance

ROKU opened at $99.07 on Friday. The stock’s 50 day simple moving average is $80.56 and its 200 day simple moving average is $73.65. Roku has a 1 year low of $48.33 and a 1 year high of $104.96.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.44) by $0.20. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. Analysts expect that Roku will post -1.09 EPS for the current fiscal year.

Insiders Place Their Bets

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the sale, the chief financial officer now owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their position. The transaction 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 Roku stock in a transaction on Monday, February 10th. The stock was sold at an average price of $87.93, for a total value of $2,198,250.00. Following the completion of the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at $2,333,486.34. The trade was a 48.51 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 97,885 shares of company stock valued at $7,911,162. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Large investors have recently modified their holdings of the company. Geneos Wealth Management Inc. grew its holdings in shares of Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after acquiring an additional 270 shares during the period. Vision Financial Markets LLC bought a new stake in shares of Roku in the fourth quarter worth $30,000. Raelipskie Partnership bought a new stake in shares of Roku in the third quarter worth $32,000. Game Plan Financial Advisors LLC bought a new stake in shares of Roku in the fourth quarter worth $37,000. Finally, Harvest Fund Management Co. Ltd grew its holdings in shares of Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 491 shares during the period. 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.