Roku (NASDAQ:ROKU) Trading Up 2.7% – Time to Buy?

Roku, Inc. (NASDAQ:ROKU)’s share price traded up 2.7% during mid-day trading on Thursday . The stock traded as high as $75.10 and last traded at $74.07. 1,072,267 shares changed hands during mid-day trading, a decline of 71% from the average session volume of 3,676,265 shares. The stock had previously closed at $72.14.

Analyst Ratings Changes

Several brokerages recently commented on ROKU. Wells Fargo & Company upgraded shares of Roku from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $74.00 to $129.00 in a report on Friday, February 14th. Citigroup raised their price target on Roku from $70.00 to $103.00 and gave the stock a “neutral” rating in a research note on Thursday, February 20th. Rosenblatt Securities restated a “neutral” rating and set a $86.00 price objective on shares of Roku in a report on Thursday, February 13th. UBS Group increased their target price on Roku from $73.00 to $90.00 and gave the stock a “neutral” rating in a research note on Friday, February 14th. Finally, Jefferies Financial Group raised shares of Roku from an “underperform” rating to a “hold” rating and boosted their target price for the company from $55.00 to $100.00 in a research note on Thursday, February 20th. One analyst has rated the stock with a sell rating, seven have issued a hold rating, fourteen have assigned a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $96.71.

Roku Price Performance

The business has a fifty day simple moving average of $80.89 and a two-hundred day simple moving average of $77.14. The company has a market cap of $11.43 billion, a PE ratio of -87.97 and a beta of 2.12.

Roku (NASDAQ:ROKU) last posted its earnings results on Thursday, February 13th. The company reported ($0.24) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.44) by $0.20. The company had revenue of $1.20 billion for the quarter, compared to analyst estimates of $1.15 billion. Roku had a negative return on equity of 5.34% and a negative net margin of 3.15%. On average, equities research analysts predict that Roku, Inc. will post -0.3 EPS for the current year.

Insider Transactions at Roku

In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction on Wednesday, January 15th. The stock was sold at an average price of $77.18, for a total value of $77,180.00. Following the completion of the sale, the chief financial officer now owns 63,555 shares of the company’s stock, valued at $4,905,174.90. This trade represents a 1.55 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Matthew C. Banks sold 1,906 shares of the company’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $80.36, for a total value of $153,166.16. Following the transaction, the chief accounting officer now directly owns 7,256 shares in the company, valued at $583,092.16. This represents a 20.80 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 97,908 shares of company stock valued at $8,633,436 in the last 90 days. Insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Institutional investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC increased its holdings in shares of Roku by 23.9% during the fourth quarter. Farther Finance Advisors LLC now owns 627 shares of the company’s stock valued at $47,000 after acquiring an additional 121 shares in the last quarter. United Advisor Group LLC grew its position in Roku by 0.9% during the 4th quarter. United Advisor Group LLC now owns 14,430 shares of the company’s stock worth $1,073,000 after purchasing an additional 130 shares during the last quarter. Cerity Partners LLC increased its stake in Roku by 0.5% during the 4th quarter. Cerity Partners LLC now owns 26,679 shares of the company’s stock valued at $1,984,000 after purchasing an additional 145 shares in the last quarter. True Vision MN LLC raised its holdings in shares of Roku by 3.1% in the third quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock worth $375,000 after buying an additional 152 shares during the last quarter. Finally, Richard W. Paul & Associates LLC lifted its stake in shares of Roku by 1.1% during the fourth quarter. Richard W. Paul & Associates LLC now owns 15,997 shares of the company’s stock worth $1,189,000 after buying an additional 177 shares during the period. 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.