Roku (NASDAQ:ROKU) Given New $75.00 Price Target at Wedbush

Roku (NASDAQ:ROKU - Free Report) had its target price decreased by Wedbush from $80.00 to $75.00 in a research note published on Friday, Benzinga reports. Wedbush currently has an outperform rating on the stock.

Several other equities analysts also recently issued reports on ROKU. Stephens reissued an overweight rating and set a $105.00 price target on shares of Roku in a report on Friday, February 16th. Benchmark decreased their target price on shares of Roku from $115.00 to $105.00 and set a buy rating for the company in a research report on Friday. Susquehanna raised their price target on shares of Roku from $100.00 to $110.00 and gave the company a positive rating in a research note on Friday, February 16th. Needham & Company LLC reiterated a buy rating and set a $100.00 price objective on shares of Roku in a research report on Friday. Finally, Piper Sandler reissued a neutral rating and issued a $65.00 price objective (down from $81.00) on shares of Roku in a report on Friday. Five investment analysts have rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat, Roku presently has a consensus rating of Hold and an average price target of $83.90.

Roku Stock Down 10.3 %

Shares of NASDAQ:ROKU traded down $6.46 on Friday, reaching $56.35. 18,064,222 shares of the company's stock were exchanged, compared to its average volume of 5,809,822. The business's 50-day moving average is $62.80 and its two-hundred day moving average is $78.48. Roku has a fifty-two week low of $51.62 and a fifty-two week high of $108.84. The firm has a market capitalization of $8.09 billion, a price-to-earnings ratio of -11.23 and a beta of 1.66.

Roku (NASDAQ:ROKU - Get Free Report) last released its quarterly earnings data on Thursday, April 25th. The company reported ($0.35) earnings per share for the quarter, topping the consensus estimate of ($0.64) by $0.29. The firm had revenue of $881.50 million for the quarter, compared to analyst estimates of $843.54 million. Roku had a negative net margin of 20.36% and a negative return on equity of 29.21%. Roku's quarterly revenue was up 19.0% on a year-over-year basis. During the same quarter in the prior year, the business earned ($1.38) earnings per share. Analysts predict that Roku will post -2.12 earnings per share for the current fiscal year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Monday, February 12th. The stock was sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the transaction, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Anthony J. Wood sold 25,000 shares of the company's stock in a transaction that occurred on Monday, February 12th. The shares were sold at an average price of $98.64, for a total value of $2,466,000.00. Following the completion of the sale, the chief executive officer now owns 141,221 shares in the company, valued at approximately $13,930,039.44. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Stephen H. Kay sold 4,310 shares of the firm's stock in a transaction that occurred on Monday, March 4th. The stock was sold at an average price of $63.20, for a total transaction of $272,392.00. Following the completion of the transaction, the senior vice president now directly owns 81,459 shares of the company's stock, valued at approximately $5,148,208.80. The disclosure for this sale can be found here. Insiders have sold 54,545 shares of company stock valued at $4,364,035 over the last three months. Company insiders own 13.63% of the company's stock.

Institutional Investors Weigh In On Roku

Institutional investors have recently bought and sold shares of the business. SG Americas Securities LLC acquired a new stake in shares of Roku during the third quarter worth approximately $1,536,000. Meridian Wealth Management LLC bought a new stake in shares of Roku during the 3rd quarter worth about $234,000. Oak Thistle LLC acquired a new position in shares of Roku during the 3rd quarter valued at about $297,000. Handelsbanken Fonder AB lifted its holdings in Roku by 8.1% in the 3rd quarter. Handelsbanken Fonder AB now owns 21,300 shares of the company's stock worth $1,504,000 after purchasing an additional 1,600 shares during the last quarter. Finally, Commonwealth Equity Services LLC boosted its position in Roku by 209.1% during the third quarter. Commonwealth Equity Services LLC now owns 105,339 shares of the company's stock worth $7,436,000 after purchasing an additional 71,257 shares during the period. 86.30% of the stock is currently owned by institutional investors and hedge funds.

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.