Jefferies Financial Group Lowers Roku (NASDAQ:ROKU) Price Target to $55.00

Roku (NASDAQ:ROKU) had its price objective trimmed by Jefferies Financial Group from $60.00 to $55.00 in a research report released on Friday, Benzinga reports. The brokerage currently has an underperform rating on the stock.

Several other research firms have also issued reports on ROKU. Piper Sandler increased their price target on shares of Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday. Robert W. Baird increased their price target on shares of Roku from $56.00 to $75.00 and gave the stock a “neutral” rating in a research report on Monday, September 30th. Citigroup upped their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price objective on the stock in a research note on Thursday, September 12th. Finally, Wedbush upped their price objective on shares of Roku from $75.00 to $85.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $83.95.

Roku Stock Performance

NASDAQ:ROKU traded up $1.62 during mid-day trading on Friday, hitting $65.70. The company’s stock had a trading volume of 6,782,373 shares, compared to its average volume of 3,686,989. Roku has a fifty-two week low of $48.33 and a fifty-two week high of $108.84. The stock has a fifty day moving average of $73.22 and a 200-day moving average of $63.71.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.30%. The firm had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business posted ($2.33) earnings per share. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts anticipate that Roku will post -1.41 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $75.00, for a total value of $1,875,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Roku news, CFO Dan Jedda sold 1,000 shares of the stock in a transaction on Tuesday, October 15th. The shares were sold at an average price of $76.25, for a total value of $76,250.00. Following the sale, the chief financial officer now directly owns 53,267 shares in the company, valued at approximately $4,061,608.75. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction 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 sale, the chief executive officer now owns 5,020 shares in the company, valued at approximately $376,500. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 69,566 shares of company stock valued at $5,254,000. 13.98% of the stock is currently owned by insiders.

Institutional Investors Weigh In On Roku

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. ARK Investment Management LLC raised its holdings in shares of Roku by 1.3% during the second quarter. ARK Investment Management LLC now owns 12,716,432 shares of the company’s stock worth $762,096,000 after acquiring an additional 159,785 shares during the period. Vanguard Group Inc. raised its holdings 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 acquiring an additional 92,658 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in shares of Roku by 25.8% during the first quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares during the period. Bank of New York Mellon Corp raised its holdings in shares of Roku by 5.2% during the second quarter. Bank of New York Mellon Corp now owns 500,794 shares of the company’s stock worth $30,013,000 after acquiring an additional 24,926 shares during the period. Finally, Canada Pension Plan Investment Board grew its position in Roku by 138.1% in the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock valued at $22,314,000 after purchasing an additional 198,600 shares in the last quarter. 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.