Roku (NASDAQ:ROKU) Rating Increased to Buy at Pivotal Research

Pivotal Research upgraded shares of Roku (NASDAQ:ROKU) from a hold rating to a buy rating in a report released on Friday morning, Marketbeat Ratings reports. Pivotal Research currently has $125.00 target price on the stock, up from their previous target price of $65.00.

ROKU has been the subject of a number of other research reports. Loop Capital lifted their target price on shares of Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Piper Sandler lifted their target price on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Citizens Jmp upgraded shares of Roku to a “strong-buy” rating in a research report on Tuesday, January 21st. Rosenblatt Securities restated a “neutral” rating and set a $86.00 target price on shares of Roku in a research report on Thursday. Finally, JMP Securities restated a “market outperform” rating and set a $95.00 target price on shares of Roku in a research report on Monday, February 3rd. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $93.18.

Roku Trading Up 14.1 %

Shares of NASDAQ ROKU opened at $99.07 on Friday. Roku has a 52 week low of $48.33 and a 52 week high of $104.96. The firm has a 50-day moving average price of $80.56 and a 200 day moving average price of $73.65.

Roku (NASDAQ:ROKU) 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. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. Analysts anticipate that Roku will post -1.09 EPS for the current fiscal year.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total transaction of $77,180.00. Following the completion of the sale, the chief financial officer now directly owns 63,555 shares in the company, valued at $4,905,174.90. The trade was a 1.55 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on Monday, February 10th. The stock was sold at an average price of $87.93, for a total transaction of $2,198,250.00. Following the sale, the chief executive officer now owns 26,538 shares of the company’s stock, valued at approximately $2,333,486.34. This represents a 48.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 97,885 shares of company stock worth $7,911,162. 13.98% of the stock is owned by company insiders.

Institutional Investors Weigh In On Roku

Several institutional investors have recently bought and sold shares of the business. FMR LLC grew its stake in Roku by 31.7% during the fourth quarter. FMR LLC now owns 19,183,942 shares of the company’s stock worth $1,426,134,000 after buying an additional 4,613,570 shares during the period. Vanguard Group Inc. grew its stake in Roku by 1.5% during the fourth quarter. Vanguard Group Inc. now owns 12,249,091 shares of the company’s stock worth $910,597,000 after buying an additional 185,676 shares during the period. Marshall Wace LLP grew its stake 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 during the period. T. Rowe Price Investment Management Inc. grew its stake in Roku by 10.5% during the fourth quarter. T. Rowe Price Investment Management Inc. now owns 2,269,751 shares of the company’s stock worth $168,734,000 after buying an additional 215,841 shares during the period. Finally, Geode Capital Management LLC grew its stake in Roku by 2.7% during the fourth quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company’s stock worth $159,353,000 after buying an additional 56,820 shares during the period. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

About Roku

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.