Roku Inc (NASDAQ:ROKU) shares gapped up prior to trading on Thursday . The stock had previously closed at $57.20, but opened at $55.60. Roku shares last traded at $56.83, with a volume of 116868 shares.
Several research analysts recently weighed in on the company. BidaskClub raised Roku from a “hold” rating to a “buy” rating in a research report on Saturday. Wedbush raised Roku from a “neutral” rating to an “outperform” rating and set a $65.00 price objective on the stock in a research report on Thursday. They noted that the move was a valuation call. Royal Bank of Canada raised Roku from a “sector perform” rating to an “outperform” rating and raised their price objective for the company from $48.00 to $70.00 in a research report on Friday, October 19th. Cannonball Research raised their price objective on Roku from $68.00 to $97.00 and gave the company a “buy” rating in a research report on Monday, October 1st. Our analysis of the composition of advertising revenue growth gives us incremental comfort with our revenue forecast for FY18-20. It also supports our Buy thesis based on the belief that ROKU works only if the advertising revenue story works. We think that inventory sell through which has been a relatively small revenue driver so far can become more significant in the mid-term. Finally, ValuEngine raised Roku from a “hold” rating to a “buy” rating in a research report on Wednesday, October 3rd. Five investment analysts have rated the stock with a hold rating, eleven have assigned a buy rating and one has issued a strong buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $63.25.
In other news, CEO Anthony J. Wood sold 370,486 shares of Roku stock in a transaction dated Tuesday, August 14th. The stock was sold at an average price of $57.10, for a total transaction of $21,154,750.60. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Chas Smith sold 130,908 shares of Roku stock in a transaction dated Friday, August 10th. The stock was sold at an average price of $58.09, for a total value of $7,604,445.72. The disclosure for this sale can be found here. Insiders sold 1,327,883 shares of company stock worth $84,053,444 over the last three months. 0.55% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in ROKU. Stratos Wealth Partners LTD. purchased a new stake in shares of Roku during the third quarter worth about $130,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Roku during the first quarter worth about $156,000. SevenBridge Financial Group LLC purchased a new stake in shares of Roku during the second quarter worth about $158,000. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in shares of Roku during the third quarter worth about $168,000. Finally, Gabelli Funds LLC purchased a new stake in shares of Roku during the second quarter worth about $213,000. 33.21% of the stock is currently owned by institutional investors and hedge funds.
Roku Company Profile (NASDAQ: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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