Bank of America Initiates Coverage on Roku (NASDAQ:ROKU)

Bank of America assumed coverage on shares of Roku (NASDAQ:ROKU) in a research report report published on Thursday morning. The firm issued a buy rating and a $100.00 price target on the stock.

Several other brokerages also recently commented on ROKU. Citigroup upgraded shares of Roku from a “neutral” rating to an “outperform” rating in a report on Sunday. Rosenblatt Securities reaffirmed a “neutral” rating and issued a $86.00 price target on shares of Roku in a research report on Thursday, February 13th. JPMorgan Chase & Co. boosted their price objective on Roku from $92.00 to $115.00 and gave the stock an “overweight” rating in a research report on Friday, February 14th. Citizens Jmp raised Roku to a “strong-buy” rating in a report on Tuesday, January 21st. Finally, Compass Point started coverage on Roku in a research report on Sunday. They issued a “buy” rating on the stock. One analyst has rated the stock with a sell rating, six have issued a hold rating, sixteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $96.71.

Roku Stock Performance

ROKU opened at $76.05 on Thursday. The company has a market cap of $11.10 billion, a PE ratio of -85.45 and a beta of 2.12. The stock has a 50-day moving average of $81.16 and a 200-day moving average of $77.54. Roku has a 52-week low of $48.33 and a 52-week high of $104.96.

Roku (NASDAQ:ROKU) last announced its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. The firm had revenue of $1.20 billion during the quarter, compared to analysts’ expectations of $1.15 billion. On average, research analysts predict that Roku will post -0.3 earnings per share for the current year.

Insider Buying and Selling

In other news, CEO Anthony J. Wood sold 4,600 shares of the company’s stock in a transaction that occurred on Thursday, March 20th. The stock was sold at an average price of $75.00, for a total value of $345,000.00. Following the sale, the chief executive officer now directly owns 6,243 shares in the company, valued at approximately $468,225. This represents a 42.42 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of the stock in a transaction that occurred on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the transaction, the chief financial officer now directly owns 63,555 shares of the company’s stock, valued at approximately $4,905,174.90. The trade was a 1.55 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 97,908 shares of company stock valued at $8,633,436 over the last quarter. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently made changes to their positions in the company. Geneos Wealth Management Inc. increased its position in shares of Roku by 369.9% during the 4th quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after purchasing an additional 270 shares in the last quarter. Vision Financial Markets LLC bought a new stake in Roku during the fourth quarter worth about $30,000. Raelipskie Partnership acquired a new stake in shares of Roku during the third quarter worth approximately $32,000. Game Plan Financial Advisors LLC bought a new position in shares of Roku in the fourth quarter valued at approximately $37,000. Finally, Harvest Fund Management Co. Ltd boosted its holdings in shares of Roku by 4,091.7% in the 4th quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after acquiring an additional 491 shares in the last quarter. Institutional investors and hedge funds 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.