Roku (ROKU) Raised to “Outperform” at Wedbush

Roku (NASDAQ:ROKU) was upgraded by research analysts at Wedbush from a “neutral” rating to an “outperform” rating in a report issued on Thursday, MarketBeat.com reports. The firm presently has a $65.00 price objective on the stock. Wedbush’s price target would suggest a potential upside of 12.28% from the stock’s previous close. The analysts noted that the move was a valuation call.

Several other equities analysts also recently commented on the stock. Zacks Investment Research downgraded shares of Roku from a “buy” rating to a “hold” rating in a research note on Tuesday, July 31st. Needham & Company LLC boosted their price target on shares of Roku from $60.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, October 1st. BidaskClub upgraded shares of Roku from a “buy” rating to a “strong-buy” rating in a research note on Friday, August 24th. KeyCorp restated an “overweight” rating and issued a $81.00 price target (up previously from $67.00) on shares of Roku in a research note on Tuesday, September 11th. Finally, Loop Capital boosted their price target on shares of Roku to $52.00 and gave the stock a “hold” rating in a research note on Tuesday, August 28th. Five equities research analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has given a strong buy rating to the company’s stock. The stock has an average rating of “Buy” and an average price target of $63.25.

Shares of NASDAQ:ROKU traded up $0.06 during trading on Thursday, hitting $57.89. The company’s stock had a trading volume of 4,949,559 shares, compared to its average volume of 8,648,444. Roku has a fifty-two week low of $18.56 and a fifty-two week high of $77.57.

In related news, CEO Anthony J. Wood sold 125,000 shares of the business’s stock in a transaction on Tuesday, October 16th. The shares were sold at an average price of $62.21, for a total transaction of $7,776,250.00. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, VP Chas Smith sold 99,129 shares of the business’s stock in a transaction on Thursday, October 25th. The stock was sold at an average price of $52.08, for a total transaction of $5,162,638.32. The disclosure for this sale can be found here. In the last quarter, insiders have sold 1,327,883 shares of company stock valued at $84,053,444. Insiders own 0.55% of the company’s stock.

Several hedge funds have recently modified their holdings of the stock. Gilder Gagnon Howe & Co. LLC lifted its position in Roku by 15.0% in the third quarter. Gilder Gagnon Howe & Co. LLC now owns 3,405,609 shares of the company’s stock valued at $248,712,000 after acquiring an additional 445,094 shares during the last quarter. BlackRock Inc. lifted its position in Roku by 408.3% in the second quarter. BlackRock Inc. now owns 3,245,130 shares of the company’s stock valued at $138,307,000 after acquiring an additional 2,606,673 shares during the last quarter. Point72 Asset Management L.P. lifted its position in Roku by 35.8% in the second quarter. Point72 Asset Management L.P. now owns 1,822,057 shares of the company’s stock valued at $77,656,000 after acquiring an additional 480,762 shares during the last quarter. Wells Fargo & Company MN lifted its position in Roku by 901.7% in the third quarter. Wells Fargo & Company MN now owns 921,147 shares of the company’s stock valued at $67,272,000 after acquiring an additional 829,193 shares during the last quarter. Finally, Whale Rock Capital Management LLC purchased a new stake in Roku in the second quarter valued at $31,972,000. Hedge funds and other institutional investors own 33.21% of the company’s stock.

About Roku

Roku, Inc operates a TV streaming platform. The company operates in two segments, Player and Platform. Its platform allows users to search, discover, and access approximately 500,000 movies and TV episodes, as well as live sports, music, news, and others. As of December 31, 2017, the company had 19.3 million active accounts.

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