Roku (NASDAQ:ROKU) Stock Price Up 3.1% – Time to Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price was up 3.1% during mid-day trading on Tuesday . The stock traded as high as $62.50 and last traded at $58.92. Approximately 1,845,308 shares changed hands during mid-day trading, a decline of 51% from the average daily volume of 3,740,003 shares. The stock had previously closed at $57.13.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on the stock. FBN Securities assumed coverage on shares of Roku in a research note on Friday, March 28th. They set an “outperform” rating and a $93.00 target price for the company. Pivotal Research raised shares of Roku from a “hold” rating to a “buy” rating and raised their target price for the company from $65.00 to $125.00 in a report on Friday, February 14th. Redburn Atlantic raised Roku from a “neutral” rating to a “buy” rating and set a $100.00 target price on the stock in a report on Monday. UBS Group upgraded shares of Roku from a “hold” rating to a “strong-buy” rating in a research report on Thursday, March 27th. Finally, Needham & Company LLC restated a “buy” rating and issued a $120.00 price target on shares of Roku in a report on Monday, March 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating, eighteen have issued a buy rating and three have assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $96.70.

Roku Stock Performance

The stock has a market capitalization of $7.97 billion, a PE ratio of -61.53 and a beta of 2.17. The business’s 50-day moving average price is $79.19 and its 200 day moving average price is $77.25.

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

Insider Transactions at Roku

In other news, CEO Anthony J. Wood sold 25,000 shares of the business’s stock in a transaction that occurred on 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 sale, the chief executive officer now directly 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 document filed with the SEC, which is available through the SEC website. Also, insider Charles Collier sold 7,181 shares of the firm’s stock in a transaction dated Tuesday, March 4th. The shares were sold at an average price of $78.25, for a total transaction of $561,913.25. Following the sale, the insider now owns 7,380 shares of the company’s stock, valued at approximately $577,485. This represents a 49.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,905 shares of company stock worth $8,632,306. Company insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Hedge funds have recently added to or reduced their stakes in the stock. Geneos Wealth Management Inc. increased its position in Roku by 369.9% in the fourth quarter. Geneos Wealth Management Inc. now owns 343 shares of the company’s stock worth $25,000 after buying an additional 270 shares in the last quarter. Vision Financial Markets LLC bought a new stake in Roku during the 4th quarter worth approximately $30,000. Raelipskie Partnership purchased a new position in Roku during the third quarter valued at approximately $32,000. Game Plan Financial Advisors LLC bought a new position in shares of Roku in the fourth quarter worth approximately $37,000. Finally, Harvest Fund Management Co. Ltd increased its stake in shares of Roku by 4,091.7% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 503 shares of the company’s stock worth $37,000 after purchasing an additional 491 shares in the last quarter. 86.30% of the stock is currently owned by hedge funds and other institutional investors.

About Roku

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.