Roku (NASDAQ:ROKU) Price Target Raised to $120.00

Roku (NASDAQ:ROKU) had its target price lifted by Bank of America from $90.00 to $120.00 in a research report report published on Friday,Benzinga reports. The firm currently has a buy rating on the stock.

ROKU has been the subject of several other research reports. Robert W. Baird upgraded shares of Roku from a “neutral” rating to an “outperform” rating and raised their price objective for the company from $70.00 to $90.00 in a research report on Monday, November 18th. Loop Capital raised their price objective on shares of Roku from $70.00 to $80.00 and gave the company a “hold” rating in a research report on Monday, December 9th. Rosenblatt Securities restated a “neutral” rating and set a $86.00 price objective on shares of Roku in a research report on Thursday. Pivotal Research upgraded shares of Roku from a “hold” rating to a “buy” rating and raised their price objective for the company from $65.00 to $125.00 in a research report on Friday. Finally, Morgan Stanley raised their price objective on shares of Roku from $60.00 to $65.00 and gave the company an “underweight” rating in a research report on Tuesday, October 29th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating, fifteen have issued a buy rating and two have given a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $93.18.

Roku Trading Up 14.1 %

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

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. As a group, sell-side analysts predict that Roku will post -1.09 EPS for the current year.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Monday, February 10th. The shares were 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 in the company, valued at $2,333,486.34. The trade was a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of Roku 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 owns 63,555 shares of the company’s stock, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,885 shares of company stock worth $7,911,162 over the last ninety days. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

A number of institutional investors and hedge funds have recently modified their holdings of ROKU. FMR LLC lifted its stake in shares of Roku by 31.7% in 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 last quarter. Marshall Wace LLP lifted its stake in shares of Roku by 663.9% in 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 last quarter. Holocene Advisors LP acquired a new stake in shares of Roku in the third quarter worth $129,015,000. Westfield Capital Management Co. LP lifted its stake in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock worth $114,646,000 after buying an additional 856,401 shares during the last quarter. Finally, Gilder Gagnon Howe & Co. LLC lifted its stake in shares of Roku by 214.1% in the fourth quarter. Gilder Gagnon Howe & Co. LLC now owns 864,974 shares of the company’s stock worth $64,302,000 after buying an additional 589,610 shares during the last quarter. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.