JPMorgan Chase & Co. Lowers Roku (NASDAQ:ROKU) Price Target to $75.00

Roku (NASDAQ:ROKU - Free Report) had its target price trimmed by JPMorgan Chase & Co. from $115.00 to $75.00 in a research note issued to investors on Tuesday,Benzinga reports. The firm currently has an overweight rating on the stock.

Several other research analysts have also recently issued reports on ROKU. Bank of America initiated coverage on shares of Roku in a report on Thursday, March 27th. They issued a "buy" rating and a $100.00 price objective for the company. Citigroup upgraded Roku from a "neutral" rating to an "outperform" rating in a research report on Sunday, March 23rd. Compass Point began coverage on Roku in a report on Sunday, March 23rd. They issued a "buy" rating for the company. Jefferies Financial Group raised Roku from an "underperform" rating to a "hold" rating and lifted their target price for the stock from $55.00 to $100.00 in a report on Thursday, February 20th. Finally, Moffett Nathanson upgraded shares of Roku from a "sell" rating to a "neutral" rating and set a $70.00 price target on the stock in a research report on Tuesday, March 4th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $91.50.

Roku Price Performance

Shares of NASDAQ ROKU traded up $1.06 during midday trading on Tuesday, hitting $65.71. 2,970,038 shares of the company's stock were exchanged, compared to its average volume of 3,716,117. Roku has a twelve month low of $48.33 and a twelve month high of $104.96. The firm has a market cap of $9.59 billion, a P/E ratio of -73.83 and a beta of 2.17. The stock's 50 day moving average price is $70.99 and its 200-day moving average price is $75.55.

Roku (NASDAQ:ROKU - Get Free Report) last announced its quarterly earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($0.44) by $0.20. The company had revenue of $1.20 billion during the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. On average, analysts expect that Roku will post -0.3 EPS for the current fiscal year.

Insider Transactions at Roku

In other news, CAO Matthew C. Banks sold 1,906 shares of the stock in a transaction dated Tuesday, March 4th. The stock was sold at an average price of $80.36, for a total transaction of $153,166.16. Following the transaction, the chief accounting officer now owns 7,256 shares of the company's stock, valued at approximately $583,092.16. This represents a 20.80 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Anthony J. Wood sold 25,000 shares of the 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 transaction, the chief executive officer now owns 26,538 shares in the company, valued at approximately $2,333,486.34. This trade represents a 48.51 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 71,905 shares of company stock valued at $6,560,876 in the last three months. Corporate insiders own 13.98% of the company's stock.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of the business. Entropy Technologies LP boosted its holdings in Roku by 264.4% in the 4th quarter. Entropy Technologies LP now owns 25,525 shares of the company's stock valued at $1,898,000 after purchasing an additional 18,520 shares during the period. Geode Capital Management LLC grew its holdings in shares of Roku by 2.7% during the 4th quarter. Geode Capital Management LLC now owns 2,147,259 shares of the company's stock worth $159,353,000 after purchasing an additional 56,820 shares in the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of Roku by 3.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company's stock valued at $73,661,000 after purchasing an additional 34,898 shares in the last quarter. Achmea Investment Management B.V. boosted its stake in Roku by 146.4% during the fourth quarter. Achmea Investment Management B.V. now owns 10,168 shares of the company's stock worth $756,000 after buying an additional 6,042 shares in the last quarter. Finally, Allstate Corp acquired a new position in shares of Roku in the 4th quarter valued at $275,000. 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.