Roku’s (NASDAQ:ROKU) quiet period is set to expire on Tuesday, November 7th. Roku had issued 15,668,000 shares in its initial public offering on September 28th. The total size of the offering was $219,352,000 based on an initial share price of $14.00. During the company’s quiet period, underwriters and any insiders that worked on the IPO are restricted from issuing any research reports for the company because of regulations issued by the Securities and Exchange Commission. Following the end of the company’s quiet period, the brokerages that served as underwriters will likely initiate research coverage on the company.
Several brokerages have issued reports on ROKU. Needham & Company LLC began coverage on Roku in a research report on Monday, October 23rd. They issued a “buy” rating and a $28.00 target price on the stock. Royal Bank Of Canada began coverage on Roku in a research report on Monday, October 23rd. They issued a “sector perform” rating and a $26.00 target price on the stock. William Blair began coverage on Roku in a research report on Monday, October 23rd. They issued an “outperform” rating on the stock. Oppenheimer Holdings, Inc. began coverage on Roku in a research report on Monday, October 23rd. They issued a “market perform” rating and a $26.00 target price on the stock. Finally, CIBC began coverage on Roku in a research report on Monday, October 23rd. They issued a “market perform” rating on the stock. Five analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Roku has a consensus rating of “Hold” and a consensus price target of $25.20.
In other news, major shareholder Mv Management X, L.L.C. sold 6,900,000 shares of the company’s stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $14.00, for a total value of $96,600,000.00. The sale was disclosed in a filing with the SEC, which is available at this hyperlink.
A hedge fund recently bought a new stake in Roku stock. Nationwide Fund Advisors bought a new position in Roku, Inc. (NASDAQ:ROKU) during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 38,020 shares of the company’s stock, valued at approximately $1,009,000. Nationwide Fund Advisors owned about 0.24% of Roku as of its most recent SEC filing. Institutional investors own 0.17% of the company’s stock.
Roku, Inc is a United States-based company engaged in creating streaming platform for delivering entertainment to the television. The Company’s products include Roku 4, Roku 3, Roku 2, Roku 1, Roku Streaming Stick and accessories, such as cables, remote controls, power adapters and headphones. Its Roku streaming players and the Roku Streaming Stick are sold through retailers in the United States, Canada, the United Kingdom, the Republic of Ireland, Mexico and France.
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