Roku (NASDAQ:ROKU) Earns Neutral Rating from Analysts at JPMorgan Chase & Co.

JPMorgan Chase & Co. began coverage on shares of Roku (NASDAQ:ROKU) in a research note issued to investors on Monday, Marketbeat.com reports. The firm issued a neutral rating and a $160.00 price objective on the stock.

ROKU has been the subject of a number of other research reports. Rosenblatt Securities reiterated a “buy” rating and set a $160.00 target price on shares of Roku in a research report on Monday, August 10th. Needham & Company LLC restated a “buy” rating on shares of Roku in a research report on Friday, August 7th. Jefferies Financial Group lowered shares of Roku from a “buy” rating to a “hold” rating and set a $160.00 price target on the stock. in a research report on Monday, June 15th. Citigroup upped their price objective on shares of Roku from $120.00 to $157.00 and gave the stock a “neutral” rating in a research note on Friday, July 17th. Finally, Wells Fargo & Company reaffirmed an “equal weight” rating and set a $165.00 price objective (down from $167.00) on shares of Roku in a report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating and nineteen have assigned a Hold rating to the company. According to data from MarketBeat, Roku has an average rating of “Hold” and a consensus target price of $156.17.

Roku Price Performance

Shares of ROKU stock opened at $158.60 on Monday. The stock’s fifty day simple moving average is $145.66 and its 200 day simple moving average is $121.55. Roku has a one year low of $78.53 and a one year high of $159.89. The firm has a market cap of $23.54 billion, a price-to-earnings ratio of 67.78 and a beta of 2.01.

Roku (NASDAQ:ROKU) last released its quarterly earnings data on Wednesday, August 5th. The company reported $1.08 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.61 by $0.47. The firm 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%.The business’s revenue for the quarter was up 21.9% compared to the same quarter last year. During the same period in the prior year, the company posted $0.07 earnings per share. On average, research analysts anticipate that Roku will post 2.82 earnings per share for the current year.

Insiders Place Their Bets

In related news, CFO Dan Jedda sold 7,000 shares of the company’s stock in a transaction dated Monday, June 15th. The shares were sold at an average price of $143.87, for a total transaction of $1,007,090.00. Following the transaction, the chief financial officer owned 79,963 shares in the company, valued at $11,504,276.81. This represents a 8.05% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gilbert Fuchsberg sold 10,719 shares of the stock in a transaction dated Thursday, August 6th. The stock was sold at an average price of $150.00, for a total transaction of $1,607,850.00. Following the sale, the insider directly owned 40,380 shares in the company, valued at approximately $6,057,000. This represents a 20.98% decrease in their position. 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 sold a total of 162,452 shares of company stock valued at $22,052,982 over the last three months. Company insiders own 13.45% of the company’s stock.

Institutional Trading of Roku

Several hedge funds have recently modified their holdings of ROKU. Raleigh Capital Management Inc. boosted its stake in shares of Roku by 6.5% during the first quarter. Raleigh Capital Management Inc. now owns 1,522 shares of the company’s stock valued at $144,000 after purchasing an additional 93 shares in the last quarter. Quantum Portfolio Management LLC increased its stake in shares of Roku by 2.6% in the first quarter. Quantum Portfolio Management LLC now owns 4,135 shares of the company’s stock valued at $391,000 after buying an additional 105 shares during the period. HB Wealth Management LLC increased its stake in shares of Roku by 3.7% in the first quarter. HB Wealth Management LLC now owns 3,447 shares of the company’s stock valued at $326,000 after buying an additional 122 shares during the period. Quarry LP raised its holdings in Roku by 21.7% in the 4th quarter. Quarry LP now owns 689 shares of the company’s stock valued at $75,000 after buying an additional 123 shares during the last quarter. Finally, Swiss Life Asset Management Ltd raised its holdings in Roku by 2.2% in the 4th quarter. Swiss Life Asset Management Ltd now owns 5,969 shares of the company’s stock valued at $648,000 after buying an additional 127 shares during the last quarter. 86.30% of the stock is owned by institutional investors.

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.