Roku (NASDAQ:ROKU) Stock Price Up 1% – Should You Buy?

Shares of Roku, Inc. (NASDAQ:ROKU) shot up 1% during mid-day trading on Wednesday . The stock traded as high as $81.48 and last traded at $80.96. 542,981 shares were traded during mid-day trading, a decline of 80% from the average session volume of 2,706,731 shares. The stock had previously closed at $80.16.

Wall Street Analysts Forecast Growth

ROKU has been the subject of several recent analyst reports. Baird R W upgraded Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Wedbush reiterated an “outperform” rating and issued a $100.00 target price on shares of Roku in a research note on Wednesday, January 8th. Macquarie reissued an “outperform” rating and set a $90.00 price target on shares of Roku in a research note on Thursday, October 31st. Loop Capital lifted their price objective on Roku from $70.00 to $80.00 and gave the stock a “hold” rating in a research report on Monday, December 9th. Finally, Piper Sandler raised their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research report on Thursday, October 31st. Three analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $83.18.

Roku Stock Up 1.0 %

The stock has a 50 day simple moving average of $78.97 and a 200 day simple moving average of $72.36. The stock has a market cap of $11.76 billion, a price-to-earnings ratio of -67.44 and a beta of 2.05.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction dated Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the completion of the transaction, the chief executive officer now owns 26,538 shares of the company’s stock, valued at $2,116,936.26. The trade was a 48.51 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, January 15th. The shares were sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the transaction, the chief financial officer now owns 63,555 shares in the company, valued at approximately $4,905,174.90. This trade represents a 1.55 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 72,885 shares of company stock valued at $5,712,912. Corporate insiders own 13.98% of the company’s stock.

Institutional Trading of Roku

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Holocene Advisors LP acquired a new position in shares of Roku during the 3rd quarter valued at about $129,015,000. Kessler Investment Group LLC lifted its holdings in Roku by 21.8% in the 3rd quarter. Kessler Investment Group LLC now owns 75,968 shares of the company’s stock worth $5,672,000 after buying an additional 13,590 shares in the last quarter. National Bank of Canada FI increased its position in shares of Roku by 11,626.3% during the third quarter. National Bank of Canada FI now owns 150,800 shares of the company’s stock worth $11,259,000 after acquiring an additional 149,514 shares during the last quarter. EULAV Asset Management boosted its holdings in Roku by 59.1% in the third quarter. EULAV Asset Management now owns 183,000 shares of the company’s stock valued at $13,663,000 after purchasing an additional 68,000 shares during the last quarter. Finally, Smith Group Asset Management LLC purchased a new stake in Roku during the 3rd quarter worth approximately $547,000. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.