Roku (NASDAQ:ROKU) Trading 4.5% Higher – Time to Buy?

Roku, Inc. (NASDAQ:ROKU) shares were up 4.5% on Monday . The stock traded as high as $81.48 and last traded at $80.89. Approximately 974,046 shares traded hands during mid-day trading, a decline of 46% from the average daily volume of 1,791,405 shares. The stock had previously closed at $77.38.

Wall Street Analyst Weigh In

A number of research firms recently commented on ROKU. Piper Sandler lifted their price target on Roku from $60.00 to $75.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Wells Fargo & Company boosted their price target on Roku from $72.00 to $74.00 and gave the company an “equal weight” rating in a report on Thursday, October 31st. Rosenblatt Securities raised their price objective on Roku from $61.00 to $86.00 and gave the stock a “neutral” rating in a research note on Thursday, October 31st. Macquarie reiterated an “outperform” rating and set a $90.00 target price on shares of Roku in a research note on Thursday, October 31st. Finally, Moffett Nathanson raised shares of Roku from a “sell” rating to a “neutral” rating and set a $80.00 price target for the company in a report on Tuesday, October 1st. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Roku currently has a consensus rating of “Moderate Buy” and a consensus target price of $83.81.

Roku Stock Up 6.4 %

The firm has a market cap of $12.05 billion, a P/E ratio of -69.17 and a beta of 2.05. The company has a 50 day moving average of $75.50 and a two-hundred day moving average of $69.71.

Roku (NASDAQ:ROKU) last posted its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.29. Roku had a negative net margin of 4.42% and a negative return on equity of 7.22%. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the previous year, the business posted ($2.33) earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. Research analysts expect that Roku, Inc. will post -1.1 earnings per share for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $82.73, for a total transaction of $82,730.00. Following the sale, the chief financial officer now directly owns 64,555 shares of the company’s stock, valued at $5,340,635.15. The trade was a 1.53 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Anthony J. Wood sold 25,000 shares of the firm’s stock in a transaction on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total value of $1,930,000.00. Following the completion of the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at approximately $387,544. This trade represents a 83.28 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 73,095 shares of company stock valued at $5,661,038. 13.98% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On Roku

Several hedge funds have recently bought and sold shares of ROKU. Raelipskie Partnership acquired a new position in shares of Roku in the 3rd quarter valued at about $32,000. Future Financial Wealth Managment LLC purchased a new position in Roku during the third quarter valued at approximately $43,000. GS Investments Inc. increased its stake in Roku by 33.4% in the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after buying an additional 147 shares during the period. EverSource Wealth Advisors LLC lifted its position in Roku by 123.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 679 shares of the company’s stock worth $40,000 after buying an additional 375 shares in the last quarter. Finally, Cedar Wealth Management LLC acquired a new stake in shares of Roku during the 2nd quarter valued at $48,000. 86.30% of the stock is owned by hedge funds and other institutional investors.

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.