Roku (NASDAQ:ROKU) Given New $90.00 Price Target at JPMorgan Chase & Co.

Roku (NASDAQ:ROKU) had its price objective hoisted by JPMorgan Chase & Co. from $80.00 to $90.00 in a report released on Wednesday, Benzinga reports. The firm currently has an overweight rating on the stock.

A number of other equities analysts have also weighed in on the company. Guggenheim raised Roku from a neutral rating to a buy rating and set a $75.00 target price for the company in a research report on Friday, August 23rd. Rosenblatt Securities decreased their target price on Roku from $89.00 to $61.00 and set a neutral rating for the company in a research report on Friday, August 2nd. Bank of America decreased their target price on Roku from $85.00 to $75.00 and set a buy rating for the company in a research report on Friday, August 2nd. Needham & Company LLC reissued a buy rating and issued a $100.00 target price on shares of Roku in a research report on Friday, September 13th. Finally, Wedbush reissued an outperform rating and issued a $75.00 target price on shares of Roku in a research report on Friday, August 2nd. Three investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and twelve have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of Hold and an average price target of $78.75.

Roku Trading Down 1.8 %

ROKU opened at $76.02 on Wednesday. The stock has a fifty day simple moving average of $63.33 and a two-hundred day simple moving average of $61.15. The company has a market cap of $11.00 billion, a price-to-earnings ratio of -19.05 and a beta of 2.06. Roku has a 12-month low of $48.33 and a 12-month high of $108.84.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Thursday, August 1st. The company reported ($0.24) earnings per share (EPS) for the quarter, topping 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.76) EPS. On average, analysts predict that Roku will post -1.45 EPS for the current year.

Insider Buying and Selling

In related news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the transaction, the chief financial officer now directly owns 54,267 shares of the company’s stock, valued at approximately $4,087,933.11. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other news, insider Charles Collier sold 15,454 shares of the company’s 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 $1,159,050.00. Following the sale, the insider now directly owns 200 shares of the company’s stock, valued at approximately $15,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Dan Jedda sold 1,000 shares of the company’s stock in a transaction that occurred on Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total value of $75,330.00. Following the sale, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. The disclosure for this sale can be found here. In the last three months, insiders have sold 46,945 shares of company stock valued at $3,465,135. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Several hedge funds have recently modified their holdings of ROKU. ARK Investment Management LLC raised its holdings in Roku by 1.3% during the 2nd 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 during the period. Vanguard Group Inc. raised its holdings in Roku by 0.8% during the 1st quarter. Vanguard Group Inc. now owns 11,946,605 shares of the company’s stock valued at $778,560,000 after buying an additional 92,658 shares during the period. Sumitomo Mitsui Trust Holdings Inc. raised its holdings in Roku by 24.7% during the 1st quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 7,349,067 shares of the company’s stock valued at $478,939,000 after buying an additional 1,457,925 shares during the period. Nikko Asset Management Americas Inc. raised its holdings in Roku by 25.8% during 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 buying an additional 1,455,408 shares during the period. Finally, Norges Bank purchased a new stake in Roku during the 4th quarter valued at $90,386,000. 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.