Roku (NASDAQ:ROKU) Shares Up 0% – Still a Buy?

Roku, Inc. (NASDAQ:ROKU) shares rose 0% during mid-day trading on Thursday . The stock traded as high as $69.72 and last traded at $68.74. Approximately 786,869 shares traded hands during mid-day trading, a decline of 82% from the average daily volume of 4,416,027 shares. The stock had previously closed at $68.71.

Wall Street Analyst Weigh In

ROKU has been the topic of several analyst reports. Wolfe Research raised shares of Roku from a “peer perform” rating to an “outperform” rating and set a $93.00 target price on the stock in a report on Thursday, September 12th. Citigroup upped their price objective on shares of Roku from $60.00 to $77.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Wedbush boosted their target price on Roku from $75.00 to $85.00 and gave the company an “outperform” rating in a report on Friday, October 25th. Benchmark restated a “buy” rating and set a $105.00 price target on shares of Roku in a research note on Thursday, September 12th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $100.00 price objective on shares of Roku in a research note on Thursday, October 31st. Two investment analysts have rated the stock with a sell rating, nine have issued a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, Roku has an average rating of “Moderate Buy” and a consensus price target of $84.14.

Roku Trading Up 0.8 %

The firm has a fifty day moving average price of $74.56 and a 200-day moving average price of $65.00.

Roku (NASDAQ:ROKU) last released its 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 business had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $1.02 billion. During the same period last year, the company earned ($2.33) earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. Research analysts expect that Roku, Inc. will post -1.1 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CEO Anthony J. Wood sold 25,000 shares of the company’s stock in a transaction dated Thursday, September 12th. The stock was sold at an average price of $75.00, for a total value of $1,875,000.00. Following the completion of the sale, the chief executive officer now owns 5,020 shares of the company’s stock, valued at $376,500. This represents a 83.28 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Gilbert Fuchsberg sold 1,693 shares of the company’s stock in a transaction that occurred on Wednesday, September 4th. The stock was sold at an average price of $64.39, for a total value of $109,012.27. Following the completion of the transaction, the insider now owns 38,602 shares of the company’s stock, valued at approximately $2,485,582.78. This represents a 4.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 90,240 shares of company stock worth $6,729,582 over the last three months. 13.98% of the stock is owned by insiders.

Hedge Funds Weigh In On Roku

Hedge funds have recently bought and sold shares of the company. UniSuper Management Pty Ltd lifted its holdings in Roku by 100.0% in the first quarter. UniSuper Management Pty Ltd now owns 1,800 shares of the company’s stock worth $117,000 after acquiring an additional 900 shares during the last quarter. CANADA LIFE ASSURANCE Co boosted its position in Roku by 127.2% during the 1st quarter. CANADA LIFE ASSURANCE Co now owns 49,912 shares of the company’s stock worth $3,255,000 after acquiring an additional 27,940 shares during the period. Natixis acquired a new position in shares of Roku during the first quarter valued at $53,000. Axxcess Wealth Management LLC raised its stake in shares of Roku by 42.9% during the first quarter. Axxcess Wealth Management LLC now owns 13,566 shares of the company’s stock valued at $884,000 after purchasing an additional 4,074 shares in the last quarter. Finally, Canada Pension Plan Investment Board lifted its holdings in Roku by 138.1% in the first quarter. Canada Pension Plan Investment Board now owns 342,400 shares of the company’s stock worth $22,314,000 after purchasing an additional 198,600 shares during the period. 86.30% of the stock is currently 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.