Roku (NASDAQ:ROKU) Shares Up 3.3% – Time to Buy?

Shares of Roku, Inc. (NASDAQ:ROKU) rose 3.3% during trading on Friday . The company traded as high as $79.88 and last traded at $79.47. Approximately 821,546 shares traded hands during trading, a decline of 81% from the average daily volume of 4,382,481 shares. The stock had previously closed at $76.95.

Wall Street Analyst Weigh In

ROKU has been the subject of a number of research reports. Needham & Company LLC restated a “buy” rating and set a $100.00 target price on shares of Roku in a research note on Friday, September 13th. Wells Fargo & Company raised shares of Roku from an “underweight” rating to an “equal weight” rating and increased their price target for the company from $50.00 to $72.00 in a report on Thursday, September 5th. Robert W. Baird upped their target price on Roku from $56.00 to $75.00 and gave the company a “neutral” rating in a research report on Monday, September 30th. Citigroup lifted their price target on Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Benchmark reaffirmed a “buy” rating and issued a $105.00 price objective on shares of Roku in a report on Thursday, September 12th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $81.24.

Roku Trading Up 3.4 %

The company has a market capitalization of $11.51 billion, a price-to-earnings ratio of -22.90 and a beta of 2.08. The business’s 50 day moving average price is $70.03 and its two-hundred day moving average price is $62.72.

Roku (NASDAQ:ROKU) last issued its quarterly earnings data on Thursday, August 1st. The company reported ($0.24) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.21. The business had revenue of $968.18 million during the quarter, compared to the consensus estimate of $937.78 million. Roku had a negative net margin of 13.16% and a negative return on equity of 21.03%. The firm’s revenue was up 14.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.76) EPS. Analysts expect that Roku, Inc. will post -1.44 EPS for the current year.

Insider Transactions at Roku

In other news, insider Gilbert Fuchsberg sold 1,693 shares of Roku stock in a transaction on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total transaction of $109,012.27. Following the transaction, the insider now owns 38,602 shares in the company, valued at approximately $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CFO Dan Jedda sold 1,000 shares of the firm’s stock in a transaction dated Tuesday, September 17th. The stock was sold at an average price of $75.33, for a total transaction of $75,330.00. Following the completion of the transaction, the chief financial officer now directly owns 54,267 shares in the company, valued at $4,087,933.11. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The shares were sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the sale, the insider now owns 38,602 shares in the company, valued at $2,485,582.78. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 69,566 shares of company stock worth $5,254,000. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the company. Mcdonald Partners LLC boosted its position in shares of Roku by 0.9% during the 2nd quarter. Mcdonald Partners LLC now owns 19,608 shares of the company’s stock valued at $1,175,000 after purchasing an additional 175 shares in the last quarter. Benjamin Edwards Inc. grew its position in shares of Roku by 43.5% during the 1st quarter. Benjamin Edwards Inc. now owns 617 shares of the company’s stock worth $40,000 after buying an additional 187 shares during the period. Beacon Capital Management LLC increased its stake in shares of Roku by 17.7% in the 1st quarter. Beacon Capital Management LLC now owns 1,547 shares of the company’s stock valued at $101,000 after acquiring an additional 233 shares in the last quarter. Arizona State Retirement System lifted its position in shares of Roku by 0.7% during the 2nd quarter. Arizona State Retirement System now owns 34,656 shares of the company’s stock valued at $2,077,000 after acquiring an additional 251 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in Roku by 6.4% during the second quarter. Sequoia Financial Advisors LLC now owns 4,519 shares of the company’s stock worth $271,000 after acquiring an additional 270 shares in the last quarter. Institutional investors and hedge funds own 86.30% of the company’s stock.

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.