Roku (NASDAQ:ROKU) Trading 1% Higher – Time to Buy?

Roku, Inc. (NASDAQ:ROKU) shares were up 1% on Wednesday . The stock traded as high as $79.75 and last traded at $79.56. Approximately 768,296 shares changed hands during mid-day trading, a decline of 82% from the average daily volume of 4,350,347 shares. The stock had previously closed at $78.80.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on ROKU shares. Piper Sandler lifted their price target on shares of Roku from $60.00 to $75.00 and gave the company a “neutral” rating in a research note on Thursday, October 31st. Macquarie reissued an “outperform” rating and set a $90.00 target price on shares of Roku in a research report on Thursday, October 31st. UBS Group started coverage on shares of Roku in a research report on Friday, November 22nd. They set a “neutral” rating and a $73.00 target price for the company. Citigroup upped their price objective on shares of Roku from $60.00 to $77.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company boosted their target price on shares of Roku from $72.00 to $74.00 and gave the company an “equal weight” rating 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, twelve have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $83.81.

Roku Trading Up 1.0 %

The stock’s fifty day moving average price is $75.37 and its 200 day moving average price is $67.99. The stock has a market cap of $11.55 billion, a P/E ratio of -66.30 and a beta of 2.06.

Roku (NASDAQ:ROKU) last released its earnings results on Wednesday, October 30th. The company reported ($0.06) EPS for the quarter, beating 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 last year, the firm earned ($2.33) EPS. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, analysts anticipate that Roku, Inc. will post -1.1 earnings per share for the current year.

Insider Activity at Roku

In other Roku news, CFO Dan Jedda sold 1,000 shares of the 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 completion of the sale, the chief financial officer now owns 64,555 shares of the company’s stock, valued at $5,340,635.15. This represents a 1.53 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Thursday, October 10th. The shares were sold at an average price of $77.20, for a total transaction of $1,930,000.00. Following the sale, the chief executive officer now directly owns 5,020 shares of the company’s stock, valued at $387,544. The trade was a 83.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 73,096 shares of company stock valued at $5,661,223. Insiders own 13.98% of the company’s stock.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of the business. GS Investments Inc. increased its stake in Roku by 33.4% during the 3rd quarter. GS Investments Inc. now owns 587 shares of the company’s stock valued at $44,000 after purchasing an additional 147 shares in the last quarter. PFG Investments LLC increased its stake in Roku by 3.7% during the 3rd quarter. PFG Investments LLC now owns 4,157 shares of the company’s stock valued at $310,000 after purchasing an additional 150 shares in the last quarter. True Vision MN LLC increased its stake in Roku by 3.1% during the 3rd quarter. True Vision MN LLC now owns 5,018 shares of the company’s stock valued at $375,000 after purchasing an additional 152 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in Roku by 4.5% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 4,721 shares of the company’s stock valued at $352,000 after purchasing an additional 202 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC grew its stake in shares of Roku by 11.2% in the third quarter. Allspring Global Investments Holdings LLC now owns 2,207 shares of the company’s stock worth $165,000 after acquiring an additional 222 shares during the period. 86.30% of the stock is 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.