Roku (NASDAQ:ROKU) Trading Up 0.6% – Should You Buy?

Roku, Inc. (NASDAQ:ROKU)’s stock price traded up 0.6% on Wednesday . The company traded as high as $67.62 and last traded at $66.71. 717,952 shares traded hands during trading, a decline of 84% from the average session volume of 4,400,405 shares. The stock had previously closed at $66.31.

Analyst Ratings Changes

ROKU has been the topic of several research reports. Macquarie reaffirmed an “outperform” rating and issued a $90.00 price target on shares of Roku in a report on Thursday, October 31st. Jefferies Financial Group cut their target price on Roku from $60.00 to $55.00 and set an “underperform” rating on the stock in a research report on Friday, November 1st. Rosenblatt Securities increased their price target on Roku from $61.00 to $86.00 and gave the company a “neutral” rating in a research report on Thursday, October 31st. Loop Capital boosted their price objective on Roku from $65.00 to $70.00 and gave the stock a “hold” rating in a report on Thursday, October 31st. Finally, Robert W. Baird raised shares of Roku from a “neutral” rating to an “outperform” rating and upped their price objective for the company from $70.00 to $90.00 in a research note on Monday, November 18th. Two analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $82.62.

Roku Stock Up 2.1 %

The business has a fifty day moving average of $73.77 and a 200 day moving average of $65.28.

Roku (NASDAQ:ROKU) last announced its quarterly earnings results on Wednesday, October 30th. The company reported ($0.06) 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 company had revenue of $1.06 billion for the quarter, compared to analyst estimates of $1.02 billion. During the same quarter in the prior year, the business posted ($2.33) EPS. Roku’s quarterly revenue was up 16.5% on a year-over-year basis. Analysts expect that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insider Buying and Selling at Roku

In other Roku news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction that occurred on Thursday, October 10th. The stock was sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the transaction, the chief executive officer now owns 5,020 shares in the company, valued at $387,544. This trade represents a 83.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Matthew C. Banks sold 8,693 shares of the business’s stock in a transaction on Monday, November 18th. The stock was sold at an average price of $71.44, for a total transaction of $621,027.92. Following the completion of the sale, the chief accounting officer now owns 7,264 shares of the company’s stock, valued at $518,940.16. The trade was a 54.48 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 90,240 shares of company stock worth $6,729,582 over the last three months. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

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

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.