Roku (NASDAQ:ROKU) Given “Market Outperform” Rating at JMP Securities

JMP Securities reissued their market outperform rating on shares of Roku (NASDAQ:ROKU) in a research note published on Monday,Benzinga reports. The brokerage currently has a $95.00 target price on the stock.

Several other equities analysts have also recently issued reports on the company. JPMorgan Chase & Co. boosted their target price on Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Wedbush reiterated an “outperform” rating and issued a $100.00 price target on shares of Roku in a report on Wednesday, January 8th. Macquarie reissued an “outperform” rating and set a $90.00 price objective on shares of Roku in a report on Thursday, October 31st. Piper Sandler lifted their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Finally, Citizens Jmp upgraded Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, eight have given a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Roku presently has an average rating of “Moderate Buy” and a consensus price target of $83.18.

Roku Price Performance

NASDAQ:ROKU opened at $79.10 on Monday. The firm has a market cap of $11.49 billion, a price-to-earnings ratio of -65.92 and a beta of 2.05. The firm’s fifty day moving average price is $78.70 and its 200 day moving average price is $72.24. Roku has a 1-year low of $48.33 and a 1-year high of $99.80.

Insider Activity

In other Roku news, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total transaction of $77,180.00. Following the transaction, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at $4,905,174.90. The trade was a 1.55 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Charles Collier sold 10,771 shares of the stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.14, for a total transaction of $766,248.94. Following the completion of the sale, the insider now directly owns 3,790 shares of the company’s stock, valued at $269,620.60. The trade was a 73.97 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 72,885 shares of company stock valued at $5,712,912 in the last 90 days. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

Several large investors have recently added to or reduced their stakes in the stock. Holocene Advisors LP purchased a new stake in shares of Roku during the 3rd quarter valued at about $129,015,000. Westfield Capital Management Co. LP boosted its stake in shares of Roku by 126.1% in the third quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after purchasing an additional 856,401 shares during the period. Point72 Asset Management L.P. grew its holdings in Roku by 352.5% during the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock valued at $48,653,000 after purchasing an additional 507,643 shares in the last quarter. JAT Capital Mgmt LP lifted its holdings in Roku by 470.2% in the 3rd quarter. JAT Capital Mgmt LP now owns 540,577 shares of the company’s stock worth $40,359,000 after buying an additional 445,777 shares in the last quarter. Finally, FMR LLC boosted its position in Roku by 1.7% in the 3rd quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after buying an additional 244,793 shares during the last quarter. 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.