Roku (NASDAQ:ROKU) Coverage Initiated at Jefferies Financial Group

Jefferies Financial Group assumed coverage on shares of Roku (NASDAQ:ROKU) in a research note issued to investors on Thursday morning, MarketBeat Ratings reports. The firm issued an underperform rating and a $50.00 price target on the stock.

A number of other equities analysts have also recently issued reports on ROKU. Piper Sandler restated a neutral rating and set a $65.00 target price (down previously from $81.00) on shares of Roku in a report on Friday, April 26th. Morgan Stanley reduced their target price on Roku from $65.00 to $60.00 and set an underweight rating on the stock in a report on Friday, April 5th. Seaport Res Ptn upgraded Roku from a neutral rating to a buy rating in a report on Monday, April 29th. Rosenblatt Securities reiterated a neutral rating and set a $89.00 price objective on shares of Roku in a report on Friday, April 26th. Finally, Wedbush cut their price objective on Roku from $80.00 to $75.00 and set an outperform rating on the stock in a report on Friday, April 26th. Four investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Hold and an average price target of $82.50.

Roku Stock Down 1.4 %

Shares of ROKU opened at $59.11 on Thursday. Roku has a 12-month low of $51.62 and a 12-month high of $108.84. The stock’s fifty day simple moving average is $62.07 and its 200-day simple moving average is $78.31.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 25th. The company reported ($0.35) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.64) by $0.29. Roku had a negative return on equity of 23.81% and a negative net margin of 15.64%. The firm had revenue of $881.50 million for the quarter, compared to analysts’ expectations of $843.54 million. During the same quarter last year, the business earned ($1.38) earnings per share. The company’s revenue was up 19.0% compared to the same quarter last year. As a group, sell-side analysts predict that Roku will post -1.94 EPS for the current year.

Insiders Place Their Bets

In related news, Director Jeffrey M. Blackburn purchased 8,000 shares of the stock in a transaction on Wednesday, March 13th. The shares were purchased at an average price of $63.96 per share, with a total value of $511,680.00. Following the transaction, the director now directly owns 8,000 shares of the company’s stock, valued at $511,680. The acquisition was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, insider Charles Collier sold 4,182 shares of the business’s stock in a transaction that occurred on Friday, March 8th. The stock was sold at an average price of $65.00, for a total transaction of $271,830.00. Following the transaction, the insider now directly owns 8,474 shares of the company’s stock, valued at approximately $550,810. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Jeffrey M. Blackburn bought 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, March 13th. The shares were acquired at an average cost of $63.96 per share, for a total transaction of $511,680.00. Following the completion of the acquisition, the director now directly owns 8,000 shares in the company, valued at approximately $511,680. The disclosure for this purchase can be found here. Insiders have sold 54,751 shares of company stock valued at $4,375,835 in the last 90 days. 13.63% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the business. Geneos Wealth Management Inc. increased its holdings in shares of Roku by 835.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 683 shares of the company’s stock worth $45,000 after acquiring an additional 610 shares during the last quarter. GSA Capital Partners LLP increased its holdings in shares of Roku by 70.4% during the 1st quarter. GSA Capital Partners LLP now owns 15,540 shares of the company’s stock worth $1,013,000 after acquiring an additional 6,420 shares during the last quarter. Nikko Asset Management Americas Inc. increased its holdings in shares of Roku by 25.8% during the 1st quarter. Nikko Asset Management Americas Inc. now owns 7,091,891 shares of the company’s stock worth $462,108,000 after acquiring an additional 1,455,408 shares during the last quarter. Daiwa Securities Group Inc. increased its holdings in shares of Roku by 411.0% during the 1st quarter. Daiwa Securities Group Inc. now owns 46,689 shares of the company’s stock worth $3,042,000 after acquiring an additional 37,552 shares during the last quarter. Finally, Nordea Investment Management AB boosted its stake in Roku by 8.2% in the 1st quarter. Nordea Investment Management AB now owns 7,842 shares of the company’s stock valued at $516,000 after purchasing an additional 595 shares during the period. 86.30% of the stock is owned by institutional investors and hedge funds.

Roku Company Profile

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.