Roku (NASDAQ:ROKU) PT Lowered to $61.00 at Rosenblatt Securities

Roku (NASDAQ:ROKU) had its price objective decreased by Rosenblatt Securities from $89.00 to $61.00 in a report issued on Friday morning, Benzinga reports. Rosenblatt Securities currently has a neutral rating on the stock.

A number of other research analysts have also recently issued reports on ROKU. Bank of America reduced their price objective on Roku from $85.00 to $75.00 and set a buy rating on the stock in a research note on Friday. Benchmark reiterated a buy rating and issued a $105.00 price objective on shares of Roku in a research report on Friday. Seaport Res Ptn upgraded shares of Roku from a neutral rating to a buy rating in a report on Monday, April 29th. Jefferies Financial Group began coverage on shares of Roku in a report on Thursday, May 2nd. They set an underperform rating and a $50.00 price target for the company. Finally, Piper Sandler reissued a neutral rating and issued a $65.00 price target (down previously from $81.00) on shares of Roku in a report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat.com, Roku currently has an average rating of Hold and a consensus price target of $79.71.

Roku Trading Down 2.8 %

Shares of Roku stock opened at $51.67 on Friday. The firm has a market capitalization of $7.45 billion, a PE ratio of -12.29 and a beta of 1.96. Roku has a 12 month low of $48.33 and a 12 month high of $108.84. The business’s 50-day moving average price is $58.43 and its 200-day moving average price is $65.01.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, topping the consensus estimate of ($0.45) by $0.21. Roku had a negative net margin of 13.16% and a negative return on equity of 21.17%. The firm had revenue of $968.18 million for the quarter, compared to the consensus estimate of $937.78 million. During the same period last year, the firm posted ($0.76) earnings per share. The business’s revenue was up 14.3% compared to the same quarter last year. As a group, analysts predict that Roku will post -1.94 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other news, Director Mai Fyfield sold 650 shares of the firm’s stock in a transaction on Monday, June 10th. The stock was sold at an average price of $57.88, for a total transaction of $37,622.00. Following the completion of the transaction, the director now directly owns 3,259 shares in the company, valued at $188,630.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, Director Mai Fyfield sold 650 shares of the company’s stock in a transaction that occurred on Monday, June 10th. The shares were sold at an average price of $57.88, for a total value of $37,622.00. Following the transaction, the director now owns 3,259 shares in the company, valued at $188,630.92. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Charles Collier sold 3,590 shares of the firm’s stock in a transaction that occurred on Tuesday, July 16th. The shares were sold at an average price of $65.00, for a total transaction of $233,350.00. Following the sale, the insider now directly owns 12,064 shares of the company’s stock, valued at approximately $784,160. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 27,075 shares of company stock worth $1,556,005. 13.98% of the stock is owned by insiders.

Institutional Investors Weigh In On Roku

Several institutional investors have recently modified their holdings of ROKU. Arizona State Retirement System raised its position in Roku by 0.7% in the 2nd quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock worth $2,077,000 after buying an additional 251 shares during the last quarter. Versor Investments LP raised its holdings in shares of Roku by 379.6% during the second quarter. Versor Investments LP now owns 34,048 shares of the company’s stock valued at $2,040,000 after purchasing an additional 26,949 shares during the last quarter. AM Squared Ltd bought a new position in Roku during the second quarter valued at approximately $66,000. nVerses Capital LLC lifted its holdings in shares of Roku by 100.0% during the 2nd quarter. nVerses Capital LLC now owns 3,200 shares of the company’s stock valued at $192,000 after buying an additional 1,600 shares during the period. Finally, Fortis Group Advisors LLC lifted its holdings in Roku by 84.8% in the second quarter. Fortis Group Advisors LLC now owns 13,324 shares of the company’s stock valued at $799,000 after acquiring an additional 6,115 shares during the period. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.