Macquarie Raises Roku (NASDAQ:ROKU) Price Target to $90.00

Roku (NASDAQ:ROKU) had its price objective hoisted by Macquarie from $72.00 to $90.00 in a research note released on Thursday morning, Benzinga reports. Macquarie currently has an outperform rating on the stock.

ROKU has been the topic of a number of other reports. Wedbush reissued an outperform rating and set a $75.00 target price on shares of Roku in a report on Friday, August 2nd. Guggenheim raised shares of Roku from a neutral rating to a buy rating and set a $75.00 target price on the stock in a report on Friday, August 23rd. Rosenblatt Securities lowered their target price on Roku from $89.00 to $61.00 and set a neutral rating for the company in a report on Friday, August 2nd. Bank of America increased their price target on Roku from $75.00 to $90.00 and gave the stock a buy rating in a research report on Monday, September 30th. Finally, Moffett Nathanson upgraded Roku from a sell rating to a neutral rating and set a $80.00 price objective for the company in a research report on Tuesday, October 1st. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of Hold and an average price target of $81.14.

Roku Stock Performance

ROKU stock opened at $75.89 on Thursday. The stock’s 50 day moving average is $66.00 and its two-hundred day moving average is $61.90. Roku has a 52-week low of $48.33 and a 52-week high of $108.84.

Roku (NASDAQ:ROKU) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) earnings per share for the quarter, beating the consensus estimate of ($0.45) by $0.21. The firm had revenue of $968.18 million during the quarter, compared to analyst estimates of $937.78 million. Roku had a negative return on equity of 21.03% and a negative net margin of 13.16%. Roku’s quarterly revenue was up 14.3% on a year-over-year basis. During the same period in the previous year, the company earned ($0.76) earnings per share. As a group, equities research analysts predict that Roku will post -1.44 EPS for the current fiscal year.

Insider Transactions at Roku

In related news, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction that occurred on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $376,500. This trade represents a 0.00 % 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. In other Roku news, insider Charles Collier sold 15,454 shares of the company’s stock in a transaction dated Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,159,050.00. Following the completion of the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of Roku stock in a transaction that occurred on Thursday, September 12th. The stock was sold at an average price of $75.00, for a total transaction of $1,875,000.00. Following the completion of the transaction, the chief executive officer now directly owns 5,020 shares in the company, valued at $376,500. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 47,156 shares of company stock valued at $3,481,100. Company insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several institutional investors and hedge funds have recently added to or reduced their stakes in ROKU. ARK Investment Management LLC increased its holdings in shares of Roku by 1.3% in the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock valued at $762,096,000 after buying an additional 159,785 shares in the last quarter. Vanguard Group Inc. raised its position in shares of Roku by 0.8% during the first quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock worth $778,560,000 after purchasing an additional 92,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. lifted its holdings in shares of Roku by 24.7% during the first quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after purchasing an additional 1,457,925 shares during the last quarter. Nikko Asset Management Americas Inc. boosted its position in shares of Roku by 25.8% in the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock valued at $462,108,000 after purchasing an additional 1,455,408 shares during the period. Finally, Bank of New York Mellon Corp increased its stake in Roku by 5.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock worth $30,013,000 after purchasing an additional 24,926 shares in the last quarter. 86.30% of the stock is 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.