Roku, Inc. (NASDAQ:ROKU) Receives Average Recommendation of “Hold” from Analysts

Shares of Roku, Inc. (NASDAQ:ROKU) have earned an average recommendation of “Hold” from the twenty-seven analysts that are presently covering the company, MarketBeat.com reports. Nineteen investment analysts have rated the stock with a hold recommendation, seven have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year target price among brokers that have issued a report on the stock in the last year is $156.1667.

Several analysts have recently weighed in on ROKU shares. Citizens Jmp lowered shares of Roku from a “market outperform” rating to a “hold” rating in a research report on Tuesday, June 16th. Jefferies Financial Group lowered shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 price target for the company. in a research report on Monday, June 15th. Susquehanna cut shares of Roku from a “positive” rating to a “neutral” rating and set a $160.00 price target for the company. in a research note on Tuesday, June 16th. Weiss Ratings raised Roku from a “hold (c-)” rating to a “hold (c)” rating in a report on Tuesday, August 11th. Finally, Morgan Stanley upped their price objective on Roku from $150.00 to $170.00 and gave the company an “overweight” rating in a research note on Thursday, June 4th.

Insiders Place Their Bets

In other Roku news, insider Charles Collier sold 20,538 shares of the company’s stock in a transaction 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 sale, the insider directly owned 15,200 shares in the company, valued at $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 available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Neil D. Hunt sold 2,000 shares of the 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 transaction, the director owned 9,629 shares of the company’s stock, valued at $1,408,241.25. This represents a 17.20% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 162,452 shares of company stock worth $22,052,982 over the last quarter. Corporate insiders own 13.45% of the company’s stock.

Hedge Funds Weigh In On Roku

Several institutional investors have recently added to or reduced their stakes in the company. California State Teachers Retirement System raised its stake in shares of Roku by 13,741.7% in 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. AQR Capital Management LLC boosted its holdings in shares of Roku by 10.6% in the 4th quarter. AQR Capital Management LLC now owns 2,860,149 shares of the company’s stock worth $310,298,000 after acquiring an additional 274,024 shares in the last quarter. Geode Capital Management LLC grew its position in Roku by 7.3% during the 4th quarter. Geode Capital Management LLC now owns 2,464,130 shares of the company’s stock worth $267,389,000 after acquiring an additional 168,214 shares during the last quarter. Arrowstreet Capital Limited Partnership grew its position in Roku by 229.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 2,038,347 shares of the company’s stock worth $192,868,000 after acquiring an additional 1,419,772 shares during the last quarter. Finally, Renaissance Technologies LLC increased its holdings in Roku by 22.8% during the 1st quarter. Renaissance Technologies LLC now owns 1,565,100 shares of the company’s stock valued at $148,090,000 after purchasing an additional 290,200 shares in the last quarter. 86.30% of the stock is owned by institutional investors.

Roku Trading Up 0.9%

Shares of NASDAQ ROKU opened at $157.68 on Friday. The firm has a market capitalization of $23.40 billion, a price-to-earnings ratio of 67.38 and a beta of 2.01. Roku has a one year low of $78.53 and a one year high of $159.89. The business has a fifty day simple moving average of $146.41 and a 200 day simple moving average of $122.30.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, August 5th. The company reported $1.08 earnings per share for the quarter, topping 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 the consensus estimate of $1.30 billion. During the same quarter in the previous year, the company earned $0.07 earnings per share. The business’s revenue was up 21.9% compared to the same quarter last year. On average, research analysts anticipate that Roku will post 2.85 earnings per share for the current fiscal year.

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.