Roku’s (NASDAQ:ROKU) lock-up period is set to end on Tuesday, March 27th. Roku had issued 15,668,000 shares in its public offering on September 28th. The total size of the offering was $219,352,000 based on an initial share price of $14.00. After the end of the company’s lock-up period, major shareholders and company insiders will be able to sell their shares of the company.
Several research firms have recently weighed in on ROKU. Zacks Investment Research raised Roku from a “hold” rating to a “buy” rating and set a $53.00 price objective for the company in a research report on Wednesday, January 10th. Royal Bank of Canada upped their price objective on Roku to $45.00 and gave the stock a “sector perform” rating in a research report on Thursday, February 22nd. Vetr cut Roku from a “strong-buy” rating to a “hold” rating and set a $47.12 price objective for the company. in a research report on Thursday, February 8th. Morgan Stanley reaffirmed an “underweight” rating and set a $32.00 price objective (up from $30.00) on shares of Roku in a research report on Thursday, February 22nd. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $50.00 price objective (up from $28.00) on shares of Roku in a research report on Monday, November 27th. Three investment analysts have rated the stock with a sell rating, six have assigned a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Roku presently has a consensus rating of “Hold” and a consensus price target of $40.36.
Roku stock opened at $34.25 on Thursday. Roku has a 52-week low of $15.75 and a 52-week high of $58.80.
A number of hedge funds and other institutional investors have recently modified their holdings of ROKU. Nationwide Fund Advisors acquired a new position in Roku during the third quarter valued at approximately $1,009,000. Sei Investments Co. acquired a new position in Roku during the third quarter valued at approximately $544,000. SG Americas Securities LLC acquired a new position in Roku during the third quarter valued at approximately $273,000. FNY Managed Accounts LLC acquired a new position in Roku during the third quarter valued at approximately $599,000. Finally, Citadel Advisors LLC acquired a new position in Roku during the third quarter valued at approximately $1,122,000. 10.29% of the stock is owned by hedge funds and other institutional investors.
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Roku, Inc operates television streaming platform. The Company connects users to streaming content, enables content publishers to build and monetize audiences and provides advertisers with capabilities to engage consumers. Its Roku platform allows users to personalize their content selection with cable television replacement offerings and other streaming services that suit their budget and needs.
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