UBS Group Initiates Coverage on Roku (NASDAQ:ROKU)

UBS Group initiated coverage on shares of Roku (NASDAQ:ROKU) in a research report sent to investors on Friday, MarketBeat.com reports. The firm issued a neutral rating and a $73.00 price target on the stock.

ROKU has been the subject of a number of other research reports. Wolfe Research upgraded shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 price target for the company in a research note on Thursday, September 12th. JPMorgan Chase & Co. boosted their target price on shares of Roku from $90.00 to $92.00 and gave the stock an “overweight” rating in a research report on Thursday, October 10th. Benchmark reaffirmed a “buy” rating and issued a $105.00 price target on shares of Roku in a research report on Thursday, September 12th. Guggenheim raised Roku from a “neutral” rating to a “buy” rating and set a $75.00 price objective for the company in a report on Friday, August 23rd. Finally, Loop Capital raised their target price on Roku from $65.00 to $70.00 and gave the company a “hold” rating in a report on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat.com, Roku has a consensus rating of “Moderate Buy” and a consensus target price of $84.14.

Roku Trading Down 1.4 %

ROKU opened at $68.22 on Friday. The company has a fifty day moving average price of $74.45 and a two-hundred day moving average price of $65.13. Roku has a 1-year low of $48.33 and a 1-year high of $108.84. The company has a market cap of $9.91 billion, a P/E ratio of -56.85 and a beta of 2.07.

Roku (NASDAQ:ROKU) last issued its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.29. Roku had a negative return on equity of 7.22% and a negative net margin of 4.42%. The business had revenue of $1.06 billion during the quarter, compared to analyst estimates of $1.02 billion. During the same period in the previous year, the company posted ($2.33) EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, research analysts forecast that Roku will post -1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CAO Matthew C. Banks sold 8,693 shares of the firm’s stock in a transaction that occurred on Monday, November 18th. The shares were sold at an average price of $71.44, for a total value of $621,027.92. Following the completion of the transaction, the chief accounting officer now directly owns 7,264 shares of the company’s stock, valued at approximately $518,940.16. This trade represents a 54.48 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $75.00, for a total transaction of $75,000.00. Following the sale, the chief financial officer now directly owns 65,555 shares in the company, valued at $4,916,625. The trade was a 1.50 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock valued at $6,729,582 over the last ninety days. 13.98% of the stock is currently owned by insiders.

Institutional Trading of Roku

Institutional investors have recently added to or reduced their stakes in the stock. Sender Co & Partners Inc. bought a new stake in shares of Roku during the third quarter valued at about $827,000. M&T Bank Corp increased its holdings in Roku by 19.1% during the 3rd quarter. M&T Bank Corp now owns 7,024 shares of the company’s stock worth $525,000 after acquiring an additional 1,126 shares during the period. Raelipskie Partnership purchased a new stake in Roku in the 3rd quarter worth approximately $32,000. Nomura Asset Management Co. Ltd. boosted its holdings in Roku by 14.1% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 36,420 shares of the company’s stock valued at $2,719,000 after purchasing an additional 4,500 shares during the period. Finally, MML Investors Services LLC grew its position in shares of Roku by 9.8% during the 3rd quarter. MML Investors Services LLC now owns 10,592 shares of the company’s stock valued at $791,000 after purchasing an additional 948 shares in the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

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.