Roku (NASDAQ:ROKU) Trading 1% Higher – Should You Buy?

Roku, Inc. (NASDAQ:ROKU) shares shot up 1% during mid-day trading on Wednesday . The company traded as high as $81.48 and last traded at $80.96. 542,981 shares traded hands during mid-day trading, a decline of 80% from the average session volume of 2,706,731 shares. The stock had previously closed at $80.16.

Analyst Upgrades and Downgrades

ROKU has been the topic of a number of research reports. JPMorgan Chase & Co. raised their price objective on Roku from $90.00 to $92.00 and gave the company an “overweight” rating in a report on Thursday, October 10th. Citizens Jmp raised shares of Roku to a “strong-buy” rating in a research note on Tuesday, January 21st. UBS Group began coverage on shares of Roku in a research note on Friday, November 22nd. They issued a “neutral” rating and a $73.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and issued a $100.00 target price on shares of Roku in a research report on Tuesday, January 7th. Finally, Baird R W raised Roku from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 18th. Three research analysts have rated the stock with a sell rating, eight have issued a hold rating, thirteen have given a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $83.18.

Roku Stock Up 4.8 %

The company has a market capitalization of $12.34 billion, a P/E ratio of -70.83 and a beta of 2.05. The company has a 50-day moving average of $79.52 and a two-hundred day moving average of $72.48.

Insider Activity

In other news, CEO Anthony J. Wood sold 25,000 shares of the stock in a transaction on Friday, January 10th. The stock was sold at an average price of $79.77, for a total value of $1,994,250.00. Following the sale, the chief executive officer now directly owns 26,538 shares of the company’s stock, valued at approximately $2,116,936.26. This represents a 48.51 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Dan Jedda sold 1,000 shares of Roku stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $75.00, for a total value of $75,000.00. Following the completion of the transaction, the chief financial officer now directly owns 65,555 shares of the company’s stock, valued at approximately $4,916,625. This represents a 1.50 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 72,885 shares of company stock worth $5,712,912. Corporate insiders own 13.98% of the company’s stock.

Institutional Investors Weigh In On Roku

Several institutional investors and hedge funds have recently made changes to their positions in the company. FMR LLC raised its holdings in shares of Roku by 1.7% during the third quarter. FMR LLC now owns 14,570,372 shares of the company’s stock valued at $1,087,824,000 after purchasing an additional 244,793 shares during the last quarter. Holocene Advisors LP bought a new stake in Roku in the 3rd quarter worth approximately $129,015,000. Westfield Capital Management Co. LP raised its stake in Roku by 126.1% during the 3rd quarter. Westfield Capital Management Co. LP now owns 1,535,576 shares of the company’s stock valued at $114,646,000 after buying an additional 856,401 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its holdings in shares of Roku by 3.7% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 990,867 shares of the company’s stock valued at $73,661,000 after buying an additional 34,898 shares during the period. Finally, Point72 Asset Management L.P. boosted its stake in shares of Roku by 352.5% in the 3rd quarter. Point72 Asset Management L.P. now owns 651,658 shares of the company’s stock worth $48,653,000 after buying an additional 507,643 shares during the last quarter. Institutional investors own 86.30% of the company’s stock.

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.